KYOCERA Announces Consolidated Financial Results for Six Months Ended September 30, 2021

Kyocera Corporation (TOKYO:6971) today announced its consolidated financial results for the first half of fiscal year 2022, covering the six months ended September 30, 2021 (the “first half,” or “FY22-H1”), as summarized below. Complete details are available at: https://global.kyocera.com/ir/library/f_results.html

Consolidated Results of Operations: First Half

Summary

This first half was characterized by a significant increase in demand, especially from 5G- and semiconductor-related markets, as compared to a prior-year period constrained by initial COVID-19 impacts. The company concentrated on increasing orders, striving to raise production volumes and productivity alongside a medium-term strategic investment in facilities that we initiated in fiscal 2019. Consequently, first-half sales and profit increased significantly in all business segments.

Sales revenue increased 25.9% over the prior first half, to JPY876,337 (USD7,824) million, marking a record. Operating profit increased 214.5%, to JPY75,679 (USD676) million; profit before income taxes increased 105.9%, to JPY99,351 (USD887) million; and profit attributable to owners of the parent increased 113.1%, to JPY73,219 (USD654) million.

First-half average exchange rates show the Japanese yen weakened against both the U.S. dollar (by 2.8%, to JPY110) and the euro (by 8.3%, to JPY131) as compared to the prior first half. After yen conversion, first-half sales revenue and profit before income taxes consequently rose by approximately JPY26 billion (USD232 million) and JPY9 billion (USD80 million), respectively, due to these exchange rate fluctuations.

Consolidated Results of Operations: Second Quarter

Consolidated Forecasts: Year Ending March 31, 2022

First-half results, especially in the components business, exceeded projections. Strong demand from 5G- and semiconductor-related markets is expected to continue in the second half, but concern over supply shortages involving semiconductors and other components will continue as well. Although uncertainty remains, the company has upwardly revised its consolidated financial forecasts for the full year ending March 31, 2022 after carefully considering all factors, including first-half results and second-half demand outlook.

The company has also revised its currency-exchange outlook for the second half, and now forecasts average exchange rates of JPY110 (originally JPY105) to the U.S. dollar and JPY130 (originally JPY125) to the euro for the full year.

We will pursue continued growth in order bookings and sales revenue, and improve productivity further to achieve the revised forecast of consolidated financial results outlined in the table below.

Forward‐Looking Statements
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About KYOCERA
Kyocera Corporation (TOKYO:6971, https://global.kyocera.com/), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as “advanced ceramics”). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of industrial and automotive components, semiconductor packages, electronic devices, smart energy systems, printers, copiers, and mobile phones. During the year ended March 31, 2021, the company’s consolidated sales revenue totaled 1.5 trillion yen (approx. US$13.8 billion). Kyocera is ranked #603 on Forbes magazine’s 2021 “Global 2000” list of the world’s largest publicly traded companies, and has been listed among “The World’s 100 Most Sustainably Managed Companies” by The Wall Street Journal.

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