Kyocera reports Q1 results
August 5, 2019
The OEM has reported its financial results for the first quarter which ended 30 June 2019.
Sales revenue in the three months ended 30 June 2019 was roughly on the same level as the three months ended 30 June 2018. Despite this, profits in the first quarter decreased compared with the same period during the previous fiscal year.
Kyocera reported that sales revenue in the Equipment & Systems Business increased as a result of higher sales of mobile phones in the Japanese market, while sales revenue in the Components Business decreased due to sluggish growth mainly in the smartphone and semiconductor-related markets and increasing uncertainty toward the future caused by trade friction between the United States and China.
As a result, sales revenue for the first quarter decreased 0.7 percent to ¥384.93 billion ($3.63 billion/ €3.25 billion) compared with the same period of the previous fiscal year. Operating profit decreased by 39.0 percent to ¥22.63 million ($213 million/ €191 million).
Kyocera’s Document Solutions Group sales revenue for the first quarter decreased by 1.9 percent, to ¥87.13 billion ($821 million/ €736 million) compared with ¥88.79 billion ($836 million/ €750 million) in the same period of the previous fiscal year, due mainly to the effect of currency fluctuation, Kyocera said.
Business profit for the Document Solutions Group decreased by 13.4 percent, to ¥8.96 billion ($84.41 million/ €75.71 million). Despite this, a double-digit business profit ratio was maintained on the back of efforts to enhance productivity and cost reductions.
As key initiatives Kyocera says for the fiscal year 2020 it wants to “maintain aggressive approach to M&A”, “develop energy business” and “strengthen R&D activities”.
Categories : City News
Tags : Business Financials Kyocera OEM
