Kyocera Hits Record High in Q1

Kyocera Hits Record High in Q1

According to Kyocera, sales revenue increased 32.7% year-over-year to 420,712 million yen (US$3.84 billion) in the first quarter (Q1) ended June 30, marking a record high for a first quarter period.

Some other highlights include:

• Operating profit increased 327.5% to 32,376 million yen (US$295.60 million),
• Profit before income taxes increased 79.1%, to 54,476 million yen (US$497.38 million),
• Profit attributable to owners of the parent increased 82.1% to 40,760 million yen (US$372.15 million), compared with the previous first quarter.

In Solution Business, Sales revenue for the first quarter increased 31.5% to 228,017 million yen (US$2.08 billion) compared with the previous first quarter. Business profit increased 481.3% to 15,324 million yen (US$139.91 million), and the business profit ratio improved from 1.5% to 6.7%, compared with the previous first quarter.

“This was mainly driven by higher sales and profits in the Industrial Tools Unit and the Document Solutions Unit, where demand was sluggish during the previous first quarter due to the impact of COVID-19. Demand for cutting tools as well as pneumatic and power tools in the Industrial Tools Unit and demand for equipment and consumables in the Document Solutions Unit was on a recovery trend,” said Hideo Tanimoto, Kyocera President.

Related:

• Kyocera Reports Decline for Nine Months
• Ups and Downs for Kyocera – Revenue and Profits for 2019

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