Demand for Kyocera Services Up but Down for Supplies

Demand for Kyocera Services Up but Down for Supplies

During the three months ended June 30, 2020 (“the first quarter”), Kyocera reported that both sales revenue and profits were below those for the three months ended June 30, 2019 (“the previous first quarter”), due mainly to stagnation in major markets as a result of global economic deterioration caused by the spread of the COVID-19 epidemic.

Some highlights include:

• sales revenue decreased by 67,843 million yen (US$650.10 million), or 17.6%, to 317,094 million yen (US$3.04 billion), compared with the previous first quarter;
• Operating profit decreased by 15,055 million yen (US$144.27 million), or 66.5%, to 7,574 million yen (US$72.57 million), profit before income taxes decreased by 15,075 million yen (US$144.44 million), or 33.1%, to 30,411 million yen (US$291.38 million), and profit attributable to owners of the parent decreased by 9,657 million yen (US$92.52 million), or 30.1%, to 22,380 million yen (US$214.40 million), compared with the previous first quarter.

In document solution group, sales revenue for the first quarter decreased by 27,072 million yen (US$259.29 million), or 31.1%, to 60,058 million yen compared with 87,130 million yen (US$834.51 million) in the previous first quarter.

Although demand for document solution services increased, demand for equipment and consumables declined significantly due to restrictions on office attendance. Business profit decreased by 7,157 million yen (US$68.54 million), or 79.8%, to 1,809 million yen (US$17.32 million) compared with 8,966 million yen (US$85.86 million) in the previous first quarter as a result of lower sales revenue.

Related:

• Revealed: Kyocera’s Profits Fall in Most Recent First Half

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