Kyocera H1 Profit Down; Cuts FY Outlook

(RTTNews) – Kyocera Corp. (KYO), a Japanese ceramics and electronics manufacturer, reported that its profit attributable to owners of the parent for the six months ended September 30, 2024 decreased by 20.41 billion yen or 36.1% to 36.08 billion yen from the prior year, due mainly to a lower utilization ratio of production facilities caused by sluggish orders for components and an increase in labor and other costs. On a per share basis, net income was 25.61 yen down from 39.90 yen in the prior year.

Operating profit decreased by 29.9% year-over-year to 37.88 billion yen.

But sales revenue for the first half increased by 1.3% to 998.59 billion yen, from the prior year, as sales revenue of the Electronic Components Business and the Solutions Business increased partly due to the impact of a weaker yen, while sales revenue of the Core Components Business remained flat.

For the year ending March 31, 2025, the company now expects profit attributable to owners of the parent to be 71.00 billion yen, basic earnings per share of 50.40 yen, and sales revenue of 2.02 trillion yen.

The company said in April 2024 that it expected annual profit attributable to owners of the parent to be 112.0 billion yen, basic earnings per share of 79.31 yen and sales revenue of 2.05 trillion yen.

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