KYOCERA Announces Consolidated Financial Results For Three Months Ended June 30, 2012

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its consolidated financial results for the first quarter of fiscal year 2013 (the three months ended June 30, 2012, or "Q1"), as summarized below. Complete details are available at:

Financial Results: Three Months Ended June 30

Unit: Millions (except percentages and per-share amounts)
    Three months Ended June 30

2011(FY12-Q1)in JPY

2012(FY13-Q1)in JPY


2012(FY13-Q1)in USD

2012(FY13-Q1)in EUR

Amountin JPY
Net sales: 305,231 297,726 (7,505) (2.5) 3,769 3,007
Profit (loss) from operations: 33,313 (2,002) (35,315) - (25) (20)
Income before income taxes: 39,922 4,727 (35,195) (88.2) 60 48

Net income attributable toshareholders of KyoceraCorporation:
24,804 6,570 (18,234) (73.5) 83 66

Diluted earnings per shareattributable to shareholdersof Kyocera Corporation:
  135.19   35.82   -   -   0.45   0.36
Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided based on the BS rates of USD1 = JPY79 and EUR1 = JPY99 as of June 30, 2012, rounded to the nearest unit.

Summary of Consolidated Financial ResultsSales of components used in consumer electronics increased during Q1 as compared with the three months ended March 31, 2012; however, total Q1 revenue fell below that of the prior first quarter, ended June 30, 2011 ("the prior period") due mainly to a decline in sales of mobile phone handsets and components, despite contributions from Kyocera Unimerco A/S and Kyocera Display Corporation, which became consolidated subsidiaries of Kyocera in July 2011 and February 2012, respectively. The company's profits were also adversely affected by the yen's appreciation, coupled with a Q1 charge of JPY21,300* (USD266) million for environmental remediation at AVX Corporation, a U.S.-based subsidiary.

On a consolidated basis, Q1 net sales decreased 2.5% compared to the prior period, to JPY297,726 (USD3,769) million; a loss from operations of JPY2,002 (USD25) million was recorded due to the remediation charge at AVX Corporation; income before income taxes decreased 88.2%, to JPY4,727 (USD60) million; and net income attributable to shareholders of Kyocera Corporation decreased 73.5%, to JPY6,570 (USD83) million.

Consolidated Forecasts for the Year Ending March 31, 2013Despite continued trends in currency exchange fluctuations and financial problems in Europe, demand for components (especially those used in smartphones and tablet PCs) is expected to resume growing from the second quarter. In addition, demand for solar power generating systems is expected to increase in Japan through a new feed-in tariff for renewable energy that began in July 2012. The general business environment is therefore expected to improve.

The full-year profit forecast for fiscal 2013 has been revised from projections announced on April 26, 2012, as shown below, due to the recording of an environmental remediation charge at AVX Corporation in Q1. Kyocera has also revised its forecast of average exchange rates for fiscal year 2013 in light of first quarter results and trending.

Consolidated Forecasts: Year Ending March 31, 2013


Unit: Yen in millions (except percentages and exchange rates)
  Fiscal 2013 Forecasts Announced on  

Increase(Decrease)(%) toFiscal 2012Results

Fiscal 2012Results
April 26, 2012   August 1, 2012
Net sales: 1,190,870 1,370,000   1,370,000 15.0
Profit from operations: 97,675 140,000 118,700 21.5
Income before income taxes: 114,893 151,200 129,900 13.1

Net income attributable to shareholdersof Kyocera Corporation:
79,357 96,000 86,400 8.9
Average USD exchange rate: 79 80 79 -
Average EUR exchange rate: 109 105   97 -

* Q1 charge is converted into yen using the P&L rate of USD1 = JPY80, the average rate for Q1, rounded to the nearest unit, according to the actual amount recorded in Kyocera's Q1 consolidated results.

FORWARD-LOOKING STATEMENTSExcept for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, product demand, competition, regulatory approvals, the effect of economic conditions and technological difficulties, and other risks detailed in the Company's filings with the U.S. Securities and Exchange Commission.


Kyocera Corporation (NYSE:KYO)(TOKYO:6971) (, 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 plastics, and integrating them with other technologies, Kyocera has become a leading supplier of solar power generating systems, telecommunications equipment, printers, copiers, electronic components, semiconductor packages, cutting tools and industrial ceramics. During the year ended March 31, 2012, the company's net sales totaled 1.19 trillion yen (approx. USD14.5 billion). The company is ranked #426 on Forbes magazine's 2012 "Global 2000" listing of the world's largest publicly traded companies.

Copyright Business Wire 2010

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