Kyocera Corporation releases consolidated financial results for the first half of fiscal year 2018 on October 30.
Robust market conditions for information and telecommunications equipment, automobiles, and industrial machinery fueled a significant increase in first-half revenue from industrial components, automotive components and electronic devices. Revenue from document solutions business expanded as well, following new product launches and related sales promotion activities. As a result, the company achieved record first-half sales of JPY738, 345 (USD6, 534) million, an increase of JPY85, 102 (USD753) million, or 13.0%, over the same period of the prior year.
Profit increased significantly in the components business and equipment & systems business due mainly to corporate restructuring implemented during the prior year, as well as to stronger sales and cost reduction efforts. Profit from operations increased 105.7%, to JPY69, 505 (USD615) million; income before income taxes increased 80.8%, to JPY87, 840 (USD777) million; and net income attributable to shareholders of Kyocera Corporation increased 69.8%, to JPY61, 387 (USD543) million.
Average exchange rates for the first half reflect the Japanese yen weakening against the U.S. dollar by approximately 5.7%, to JPY111, and by 6.8% against the euro, to JPY126, as compared with the same period of the prior year. As a result, net sales and income before income taxes were pushed up by approximately JPY24 billion and JPY7 billion, respectively, as compared with the prior first half.