Indicate
by check mark whether the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F:
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereto duly authorized.
|
KYOCERA CORPORATION
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(Registrant)
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|
/s/ S
HOICHI
A
OKI
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(Signature)
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Shoichi Aoki
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Director,
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Managing Executive Officer and
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General Manager of
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Corporate Financial and Accounting Group
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Date: February 1, 2018
Information furnished on this form:
EXHIBITS
Consolidated Financial Results of Kyocera Corporation and its Subsidiaries
for the Nine Months Ended December 31, 2017
The consolidated financial information is prepared in accordance with generally accepted accounting principles in the United States of America.
1. Consolidated Financial Results for the Nine Months Ended December 31, 2017
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(1) Consolidated results of operations
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(% of change from previous period)
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Net sales
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Profit from operations
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Income before income taxes
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Net income attributable to
Kyocera Corporations
shareholders
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Million yen
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%
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Million yen
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%
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Million yen
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%
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Million yen
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|
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%
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Nine months ended December 31, 2017
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1,145,016
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12.9
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108,984
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62.4
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144,864
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46.8
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90,267
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27.4
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Nine months ended December 31, 2016
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1,014,628
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(7.2
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)
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67,102
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1.6
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98,706
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1.4
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70,852
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19.1
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(Note) Comprehensive income:
99,687 million yen for the nine months ended December 31, 2017, 49.2% of change from previous period
66,794 million yen for the nine months ended December 31, 2016, (58.2)% of change from previous period
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Net income attributable to
Kyocera Corporations
shareholders
per share - Basic
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Net income attributable to
Kyocera Corporations
shareholders
per share - Diluted
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Yen
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Yen
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Nine months ended December 31, 2017
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245.49
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245.49
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Nine months ended December 31, 2016
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192.88
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192.88
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(2) Consolidated financial condition
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Total assets
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Total equity
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Kyocera Corporations
shareholders equity
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Kyocera Corporations
shareholders equity
to total assets
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Million yen
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Million yen
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Million yen
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%
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December 31, 2017
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3,201,583
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2,472,081
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2,386,003
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74.5
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March 31, 2017
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3,110,470
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2,418,909
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2,334,219
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75.1
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2. Dividends
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Dividends per share
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End of
first quarter
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End of
second quarter
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End of
third quarter
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Year-end
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Annual
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Yen
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Yen
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Yen
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Yen
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Yen
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Year ended March 31, 2017
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50.00
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60.00
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110.00
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Year ending March 31, 2018
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60.00
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60.00
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120.00
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Note:
Year-end
and annual dividends per share for the year ending March 31, 2018 are the forecasts at the date of the submission of this report.
1
3. Consolidated Financial Forecasts for the Year Ending March 31, 2018
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(% of change from previous year)
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Net sales
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Profit from
operations
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Income before
income taxes
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Net income
attributable to
Kyocera Corporations
shareholders
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Net income
attributable to
Kyocera Corporations
shareholders
per share
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Million yen
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%
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Million yen
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%
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Million yen
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%
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Million yen
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%
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Yen
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Year ending March 31, 2018
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1,560,000
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9.6
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135,000
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29.1
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170,000
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23.3
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108,000
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4.0
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293.71
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Note:
Forecast of earnings per
share attributable to Kyocera Corporations shareholders is calculated based on the diluted average number of shares outstanding during the nine months ended December 31, 2017.
Notes:
(1) Increase or decrease in significant subsidiaries
during the nine months ended December 31, 2017: Yes
New companies : Not applicable
Removal companies : 1 (Kyocera Crystal Device Corporation)
Please refer to (3) Notes to the Consolidated Financial Statements on page 13.
(2) Adoption of concise quarterly accounting method or procedure: Not applicable
(3) Changes in accounting policies:
(i) Changes due to adoption of new accounting standards: Yes
(ii) Changes due to other than adoption of new accounting standards: Not applicable
Please refer to (3) Notes to the Consolidated Financial Statements on page 13.
(4) Number of shares (common stock):
(i) Number of shares issued:
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377,618,580 shares at December 31, 2017
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377,618,580 shares at March 31, 2017
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(ii) Number of treasury stock:
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9,910,450 shares at December 31, 2017
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9,906,197 shares at March 31, 2017
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(iii) Average number of shares outstanding:
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367,710,007 shares for the nine months ended
December 31, 2017
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367,333,543 shares for the nine months ended
December 31, 2016
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Presentation of Situation of Review Procedure
The consolidated financial information included in this Form
6-K
is out of scope of audit procedure.
2
Instruction for Forecasts and Other Notes
Cautionary Statement for Forecasts:
Certain of the statements
made in this document are forward-looking statements (within the meaning of Section 21E of the U.S. Securities and Exchange Act of 1934), which are based on our current assumptions and beliefs in light of the information currently available to
us. These forward-looking statements involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors include, but are not limited to the following:
(1)
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General conditions in the Japanese or global economy;
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(2)
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Unexpected changes in economic, political and legal conditions in countries where we operate;
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(3)
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Various export risks which may affect the significant percentage of our revenues derived from overseas sales;
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(4)
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The effect of foreign exchange fluctuations on our results of operations;
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(5)
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Intense competitive pressures to which our products are subject;
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(6)
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Fluctuations in the price and ability of suppliers to provide the required quantity of raw materials for use in Kyoceras production activities;
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(7)
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Manufacturing delays or defects resulting from outsourcing or internal manufacturing processes;
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(8)
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Shortages and rising costs of electricity affecting our production and sales activities;
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(9)
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The possibility that future initiatives and
in-process
research and development may not produce the desired results;
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(10)
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Companies or assets acquired by us not produce the returns or benefits, or bring in business opportunities;
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(11)
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Inability to secure skilled employees, particularly engineering and technical personnel;
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(12)
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Insufficient protection of our trade secrets and intellectual property rights including patents;
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(13)
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Expenses associated with licenses we require to continue to manufacture and sell products;
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(14)
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Environmental liability and compliance obligations by tightening of environmental laws and regulations;
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(15)
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Unintentional conflict with laws and regulations or newly enacted laws and regulations;
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(16)
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Our market or supply chains being affected by terrorism, plague, wars or similar events;
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(17)
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Earthquakes and other natural disasters affecting our headquarters and major facilities as well as our suppliers and customers;
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(18)
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Credit risk on trade receivables;
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(19)
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Fluctuations in the value of, and impairment losses on, securities and other assets held by us;
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(20)
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Impairment losses on long-lived assets, goodwill and intangible assets;
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(21)
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Unrealized deferred tax assets and additional liabilities for unrecognized tax benefits; and
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(22)
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Changes in accounting principles.
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Such risks, uncertainties and other factors may cause our actual results,
performance, achievements or financial condition to be materially different from any future results, performance, achievements or financial condition expressed or implied by these forward-looking statements. We undertake no obligation to publicly
update any forward-looking statements included in this document.
Other Note:
This is an English translation of the Japanese original of the Consolidated Financial Results of Kyocera Corporation and its Subsidiaries for the Nine Months
Ended December 31, 2017. The translation is prepared solely for the reference and convenience of foreigners. In the event of any discrepancy between this translation and the Japanese original, the latter shall prevail.
3
1. BUSINESS RESULTS, FINANCIAL CONDITION AND PROSPECTS
(1) Business Results for the Nine Months Ended December 31, 2017
Consolidated Financial Results
During the nine months ended December 31, 2017
(the nine months), sales in the Electronic Devices Group and Industrial & Automotive Components Group increased significantly on the back of strong component demand in information and communications, automotive-related and
industrial machinery markets. Sales in the Document Solutions Group also increased due to new product introductions and aggressive sales promotion activities. Consolidated net sales for the nine months increased by ¥130,388 million, or
12.9%, compared with the nine months ended December 31, 2016 (the previous nine months) to ¥1,145,016 million due partly to contributions from merger and acquisition activity. This result is a record high for the nine-month
period.
Profit increased significantly compared with the previous nine months due to an increase in sales and a reduction in costs. Profit
from operations increased by ¥41,882 million, or 62.4%, to ¥108,984 million and income before income taxes increased by ¥46,158 million, or 46.8%, to ¥144,864 million compared with the previous nine months. Net
income attributable to Kyocera Corporations shareholders for the nine months increased by ¥19,415 million, or 27.4%, to ¥90,267 million. Net income attributable to Kyocera Corporations shareholders decreased by
approximately ¥11 billion in the third quarter (October 1 to December 31, 2017) due to tax expenses in our subsidiaries such as AVX Corporation, a U.S. subsidiary, primarily resulting from tax law revisions in the United States.
Average exchange rates for the nine months were ¥112 to the U.S. dollar, marking depreciation of the yen by ¥5 (4.7%), and ¥129
to the Euro, marking depreciation of the yen by ¥11 (9.3%), compared with the previous nine months. As a result, net sales and income before income taxes after translation into yen for the nine months increased by approximately
¥39 billion and ¥13 billion, respectively, compared with the previous nine months.
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|
|
Nine months ended December 31,
|
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Increase
(Decrease)
|
|
|
|
2016
|
|
|
2017
|
|
|
|
|
Amount
|
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|
%
|
|
|
Amount
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%
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|
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Amount
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%
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|
|
(Yen in millions, except exchange rates)
|
|
Net sales
|
|
¥
|
1,014,628
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|
|
|
100.0
|
|
|
¥
|
1,145,016
|
|
|
|
100.0
|
|
|
¥
|
130,388
|
|
|
|
12.9
|
|
Profit from operations
|
|
|
67,102
|
|
|
|
6.6
|
|
|
|
108,984
|
|
|
|
9.5
|
|
|
|
41,882
|
|
|
|
62.4
|
|
Income before income taxes
|
|
|
98,706
|
|
|
|
9.7
|
|
|
|
144,864
|
|
|
|
12.7
|
|
|
|
46,158
|
|
|
|
46.8
|
|
Net income attributable to Kyocera Corporations shareholders
|
|
|
70,852
|
|
|
|
7.0
|
|
|
|
90,267
|
|
|
|
7.9
|
|
|
|
19,415
|
|
|
|
27.4
|
|
Average US$ exchange rate
|
|
|
107
|
|
|
|
|
|
|
|
112
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Euro exchange rate
|
|
|
118
|
|
|
|
|
|
|
|
129
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
Consolidated Results by Reporting Segment
1) Industrial & Automotive Components Group
Sales of
industrial tools increased on the back of increased demand and merger and acquisition activity. In addition, sales of automotive displays and fine ceramic parts for semiconductor processing equipment increased. Due primarily to these factors, sales
in this reporting segment increased compared with the previous nine months. Operating profit increased significantly due to the growth in sales and a reduction in costs. The operating profit ratio improved to the double-digit level.
2) Semiconductor Components Group
Sales in this reporting
segment increased compared with the previous nine months due mainly to an increase in sales of ceramic packages for smartphones and organic packages for automotive application. Operating profit increased due to the sales growth and cost reductions.
The operating profit ratio also improved.
3) Electronic Devices Group
Sales of capacitors, crystal components and connectors increased due to expansion of production capacity on the back of solid demand for smartphone parts and
to new product introductions. Additionally, demand for printing devices for industrial equipment was strong. There was also a contribution from merger and acquisition activity at AVX Corporation. As a result, sales in this reporting segment
increased compared with the previous nine months. Operating profit increased significantly due to the sales growth and cost reductions, and the operating profit ratio also improved.
4) Communications Group
Sales increased compared with the
previous nine months due to solid performance in the information and communications services business, which provides engineering services, etc., and, as a result, operating profit was recorded in this reporting segment. These results were despite a
decrease in sales in the telecommunications equipment business due to a reduction in sales volume of mobile phones for the U.S. market.
5) Document
Solutions Group
Sales in this reporting segment increased compared with the previous nine months due to an increase in sales volume resulting from
launching of new products and aggressive sales promotion activities. Sales by businesses acquired through merger and acquisition activity also contributed. Operating profit increased significantly due to the increase in sales, cost reductions and
the impact of foreign exchange rate fluctuations. The operating profit ratio improved to the double-digit level.
6) Life & Environment Group
Sales in this reporting segment decreased compared with the previous nine months due to downsizing of the solar energy business in the United States and
lower sales in the Japanese solar energy market. Operating loss was recorded in this reporting segment.
5
Net Sales by Reporting Segment
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|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended December 31,
|
|
|
Increase
(Decrease)
|
|
|
|
2016
|
|
|
2017
|
|
|
|
|
Amount
|
|
|
%
|
|
|
Amount
|
|
|
%
|
|
|
Amount
|
|
|
%
|
|
|
|
(Yen in millions)
|
|
Industrial & Automotive Components Group
|
|
¥
|
165,181
|
|
|
|
16.3
|
|
|
¥
|
205,456
|
|
|
|
18.0
|
|
|
¥
|
40,275
|
|
|
|
24.4
|
|
Semiconductor Components Group
|
|
|
181,309
|
|
|
|
17.9
|
|
|
|
196,226
|
|
|
|
17.1
|
|
|
|
14,917
|
|
|
|
8.2
|
|
Electronic Devices Group
|
|
|
176,858
|
|
|
|
17.4
|
|
|
|
223,451
|
|
|
|
19.5
|
|
|
|
46,593
|
|
|
|
26.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Components Business
|
|
|
523,348
|
|
|
|
51.6
|
|
|
|
625,133
|
|
|
|
54.6
|
|
|
|
101,785
|
|
|
|
19.4
|
|
Communications Group
|
|
|
172,213
|
|
|
|
17.0
|
|
|
|
181,321
|
|
|
|
15.8
|
|
|
|
9,108
|
|
|
|
5.3
|
|
Document Solutions Group
|
|
|
227,750
|
|
|
|
22.4
|
|
|
|
266,902
|
|
|
|
23.3
|
|
|
|
39,152
|
|
|
|
17.2
|
|
Life & Environment Group
|
|
|
104,312
|
|
|
|
10.3
|
|
|
|
79,747
|
|
|
|
7.0
|
|
|
|
(24,565
|
)
|
|
|
(23.5
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equipment & Systems Business
|
|
|
504,275
|
|
|
|
49.7
|
|
|
|
527,970
|
|
|
|
46.1
|
|
|
|
23,695
|
|
|
|
4.7
|
|
Others
|
|
|
16,696
|
|
|
|
1.6
|
|
|
|
14,068
|
|
|
|
1.2
|
|
|
|
(2,628
|
)
|
|
|
(15.7
|
)
|
Adjustments and eliminations
|
|
|
(29,691
|
)
|
|
|
(2.9
|
)
|
|
|
(22,155
|
)
|
|
|
(1.9
|
)
|
|
|
7,536
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
¥
|
1,014,628
|
|
|
|
100.0
|
|
|
¥
|
1,145,016
|
|
|
|
100.0
|
|
|
¥
|
130,388
|
|
|
|
12.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Profit (Loss) by Reporting Segment
|
|
|
|
|
|
|
|
|
|
|
Nine months ended December 31,
|
|
|
Increase
(Decrease)
|
|
|
|
2016
|
|
|
2017
|
|
|
|
|
Amount
|
|
|
%
*
|
|
|
Amount
|
|
|
%
*
|
|
|
Amount
|
|
|
%
|
|
|
|
(Yen in millions)
|
|
Industrial & Automotive Components Group
|
|
¥
|
13,499
|
|
|
|
8.2
|
|
|
¥
|
24,099
|
|
|
|
11.7
|
|
|
¥
|
10,600
|
|
|
|
78.5
|
|
Semiconductor Components Group
|
|
|
19,109
|
|
|
|
10.5
|
|
|
|
27,277
|
|
|
|
13.9
|
|
|
|
8,168
|
|
|
|
42.7
|
|
Electronic Devices Group
|
|
|
22,501
|
|
|
|
12.7
|
|
|
|
36,419
|
|
|
|
16.3
|
|
|
|
13,918
|
|
|
|
61.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Components Business
|
|
|
55,109
|
|
|
|
10.5
|
|
|
|
87,795
|
|
|
|
14.0
|
|
|
|
32,686
|
|
|
|
59.3
|
|
Communications Group
|
|
|
(290
|
)
|
|
|
|
|
|
|
2,291
|
|
|
|
1.3
|
|
|
|
2,581
|
|
|
|
|
|
Document Solutions Group
|
|
|
20,041
|
|
|
|
8.8
|
|
|
|
29,411
|
|
|
|
11.0
|
|
|
|
9,370
|
|
|
|
46.8
|
|
Life & Environment Group
|
|
|
(545
|
)
|
|
|
|
|
|
|
(2,270
|
)
|
|
|
|
|
|
|
(1,725
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equipment & Systems Business
|
|
|
19,206
|
|
|
|
3.8
|
|
|
|
29,432
|
|
|
|
5.6
|
|
|
|
10,226
|
|
|
|
53.2
|
|
Others
|
|
|
(1,522
|
)
|
|
|
|
|
|
|
1,094
|
|
|
|
7.8
|
|
|
|
2,616
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit
|
|
|
72,793
|
|
|
|
7.2
|
|
|
|
118,321
|
|
|
|
10.3
|
|
|
|
45,528
|
|
|
|
62.5
|
|
Corporate gains and equity in earnings (losses) of affiliates and an unconsolidated subsidiary
|
|
|
26,995
|
|
|
|
|
|
|
|
27,817
|
|
|
|
|
|
|
|
822
|
|
|
|
3.0
|
|
Adjustments and eliminations
|
|
|
(1,082
|
)
|
|
|
|
|
|
|
(1,274
|
)
|
|
|
|
|
|
|
(192
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes
|
|
¥
|
98,706
|
|
|
|
9.7
|
|
|
¥
|
144,864
|
|
|
|
12.7
|
|
|
¥
|
46,158
|
|
|
|
46.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*
|
% to net sales of each corresponding segment
|
Note: Kyocera has changed the classification of its reporting segments from the year ending March 31, 2018. Business results for the nine months
ended December 31, 2016 have been reclassified in line with the change to reporting segment classifications.
6
(2) Financial Condition
Consolidated Cash Flows
Cash and cash equivalents
at December 31, 2017 decreased by ¥26,511 million to ¥349,684 million from ¥376,195 million at March 31, 2017.
1)
Cash flows from operating activities
Net cash provided by operating activities for the nine months increased by ¥17,711 million to
¥112,925 million from ¥95,214 million for the previous nine months. This was due mainly to an increase in net income as well as cash flow adjustments related to increases in notes and account payable and accrued income taxes, which
exceeded cash flow adjustments related to an increase in inventories.
2) Cash flows from investing activities
Net cash used in investing activities for the nine months decreased by ¥3,407 million to ¥95,325 million from ¥98,732 million for
the previous nine months. This was due mainly to an increase in payments for acquisitions of businesses and a decrease in purchase of
held-to-maturity
securities, which
was partly offset by a decrease in maturities of
held-to-maturity
securities.
3) Cash flows from financing activities
Net cash used in
financing activities for the nine months increased by ¥4,214 million to ¥51,004 million from ¥46,790 million for the previous nine months. This was due mainly to an increase in dividends paid.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended December 31,
|
|
|
Increase
(Decrease)
|
|
|
|
2016
|
|
|
2017
|
|
|
|
|
(Yen in millions)
|
|
Cash flows from operating activities
|
|
¥
|
95,214
|
|
|
¥
|
112,925
|
|
|
¥
|
17,711
|
|
Cash flows from investing activities
|
|
|
(98,732
|
)
|
|
|
(95,325
|
)
|
|
|
3,407
|
|
Cash flows from financing activities
|
|
|
(46,790
|
)
|
|
|
(51,004
|
)
|
|
|
(4,214
|
)
|
Effect of exchange rate changes on cash and cash equivalents
|
|
|
7,014
|
|
|
|
6,893
|
|
|
|
(121
|
)
|
Net decrease in cash and cash equivalents
|
|
|
(43,294
|
)
|
|
|
(26,511
|
)
|
|
|
16,783
|
|
Cash and cash equivalents at beginning of period
|
|
|
374,020
|
|
|
|
376,195
|
|
|
|
2,175
|
|
Cash and cash equivalents at end of period
|
|
¥
|
330,726
|
|
|
¥
|
349,684
|
|
|
¥
|
18,958
|
|
7
(3) Consolidated Financial Forecasts for the Year Ending March 31, 2018
Kyocera has made no changes to its consolidated forecasts for the year ending March 31, 2018 with respect to its previous projections for net sales,
profit from operations or income before income taxes in light of results for the nine months and the outlook for the fourth quarter (January 1 to March 31, 2018). However, net income attributable to Kyocera Corporations shareholders has
been revised as shown in the table below due to the recording of tax expenses in the third quarter primarily resulting from the tax law revisions in the United States.
Kyocera has also revised its forecasts by reporting segment as shown on the following page taking into consideration the level of achievement toward previous
projections, reflecting lower sales in the solar energy business and the contrasting strong performance of the components business.
With regard to
average exchange rates for the fiscal year, the forecast for the
U.S.-Yen
exchange rate remains unchanged from the previous projection at ¥111 to the U.S. dollar while the forecast for the
Euro-Yen
exchange rate has been revised from ¥128 to ¥130 to the Euro, marking depreciation of ¥2 (1.6%).
Kyocera will work to continue expanding sales and comprehensively reduce costs with the aim of achieving its full-year financial forecasts.
Please refer to Cautionary Statement for Forecasts in Instruction for Forecasts and Other Notes on page 3.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Results for
the year
ended
March 31, 2017
|
|
|
Forecasts for the year ending
March 31, 2018
announced on
|
|
|
Increase
(Decrease)
to Results
|
|
|
|
|
October 30, 2017
(Previous)
|
|
|
February 1, 2018
(Revised)
|
|
|
|
|
Amount
|
|
|
%
|
|
|
Amount
|
|
|
%
|
|
|
Amount
|
|
|
%
|
|
|
%
|
|
|
|
(Yen in millions, except exchange rates)
|
|
Net sales
|
|
¥
|
1,422,754
|
|
|
|
100.0
|
|
|
¥
|
1,560,000
|
|
|
|
100.0
|
|
|
¥
|
1,560,000
|
|
|
|
100.0
|
|
|
|
9.6
|
|
Profit from operations
|
|
|
104,542
|
|
|
|
7.3
|
|
|
|
135,000
|
|
|
|
8.7
|
|
|
|
135,000
|
|
|
|
8.7
|
|
|
|
29.1
|
|
Income before income taxes
|
|
|
137,849
|
|
|
|
9.7
|
|
|
|
170,000
|
|
|
|
10.9
|
|
|
|
170,000
|
|
|
|
10.9
|
|
|
|
23.3
|
|
Net income attributable to Kyocera Corporations shareholders
|
|
|
103,843
|
|
|
|
7.3
|
|
|
|
119,000
|
|
|
|
7.6
|
|
|
|
108,000
|
|
|
|
6.9
|
|
|
|
4.0
|
|
Average US$ exchange rate
|
|
|
108
|
|
|
|
|
|
|
|
111
|
|
|
|
|
|
|
|
111
|
|
|
|
|
|
|
|
|
|
Average Euro exchange rate
|
|
|
119
|
|
|
|
|
|
|
|
128
|
|
|
|
|
|
|
|
130
|
|
|
|
|
|
|
|
|
|
8
Net Sales by Reporting Segment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Results for
the year
ended
March 31, 2017
|
|
|
Forecasts for the year ending
March 31, 2018
announced on
|
|
|
Increase
(Decrease)
to Results
|
|
|
|
|
October 30, 2017
(Previous)
|
|
|
February 1, 2018
(Revised)
|
|
|
|
|
Amount
|
|
|
%
|
|
|
Amount
|
|
|
%
|
|
|
Amount
|
|
|
%
|
|
|
%
|
|
|
|
(Yen in millions)
|
|
Industrial & Automotive Components Group
|
|
¥
|
230,229
|
|
|
|
16.2
|
|
|
¥
|
280,000
|
|
|
|
18.0
|
|
|
¥
|
284,000
|
|
|
|
18.2
|
|
|
|
23.4
|
|
Semiconductor Components Group
|
|
|
245,727
|
|
|
|
17.3
|
|
|
|
256,000
|
|
|
|
16.4
|
|
|
|
254,000
|
|
|
|
16.3
|
|
|
|
3.4
|
|
Electronic Devices Group
|
|
|
240,798
|
|
|
|
16.9
|
|
|
|
289,000
|
|
|
|
18.5
|
|
|
|
303,000
|
|
|
|
19.4
|
|
|
|
25.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Components Business
|
|
|
716,754
|
|
|
|
50.4
|
|
|
|
825,000
|
|
|
|
52.9
|
|
|
|
841,000
|
|
|
|
53.9
|
|
|
|
17.3
|
|
Communications Group
|
|
|
252,641
|
|
|
|
17.7
|
|
|
|
255,000
|
|
|
|
16.4
|
|
|
|
252,000
|
|
|
|
16.2
|
|
|
|
(0.3
|
)
|
Document Solutions Group
|
|
|
324,012
|
|
|
|
22.8
|
|
|
|
350,000
|
|
|
|
22.4
|
|
|
|
369,000
|
|
|
|
23.6
|
|
|
|
13.9
|
|
Life & Environment Group
|
|
|
149,207
|
|
|
|
10.5
|
|
|
|
139,000
|
|
|
|
8.9
|
|
|
|
112,000
|
|
|
|
7.2
|
|
|
|
(24.9
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equipment & Systems Business
|
|
|
725,860
|
|
|
|
51.0
|
|
|
|
744,000
|
|
|
|
47.7
|
|
|
|
733,000
|
|
|
|
47.0
|
|
|
|
1.0
|
|
Others
|
|
|
22,066
|
|
|
|
1.5
|
|
|
|
17,000
|
|
|
|
1.1
|
|
|
|
18,000
|
|
|
|
1.2
|
|
|
|
(18.4
|
)
|
Adjustments and eliminations
|
|
|
(41,926
|
)
|
|
|
(2.9
|
)
|
|
|
(26,000
|
)
|
|
|
(1.7
|
)
|
|
|
(32,000
|
)
|
|
|
(2.1
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
¥
|
1,422,754
|
|
|
|
100.0
|
|
|
¥
|
1,560,000
|
|
|
|
100.0
|
|
|
¥
|
1,560,000
|
|
|
|
100.0
|
|
|
|
9.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Profit (Loss) by Reporting Segment
|
|
|
|
|
|
|
|
Results for
the year
ended
March 31, 2017
|
|
|
Forecasts for the year ending
March 31, 2018
announced on
|
|
|
Increase
(Decrease)
to Results
|
|
|
|
|
October 30, 2017
(Previous)
|
|
|
February 1, 2018
(Revised)
|
|
|
|
|
Amount
|
|
|
%
*
|
|
|
Amount
|
|
|
%
*
|
|
|
Amount
|
|
|
%
*
|
|
|
%
|
|
|
|
(Yen in millions)
|
|
Industrial & Automotive Components Group
|
|
¥
|
22,442
|
|
|
|
9.7
|
|
|
¥
|
30,000
|
|
|
|
10.7
|
|
|
¥
|
31,000
|
|
|
|
10.9
|
|
|
|
38.1
|
|
Semiconductor Components Group
|
|
|
25,310
|
|
|
|
10.3
|
|
|
|
35,000
|
|
|
|
13.7
|
|
|
|
35,000
|
|
|
|
13.8
|
|
|
|
38.3
|
|
Electronic Devices Group
|
|
|
30,558
|
|
|
|
12.7
|
|
|
|
40,000
|
|
|
|
13.8
|
|
|
|
46,000
|
|
|
|
15.2
|
|
|
|
50.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Components Business
|
|
|
78,310
|
|
|
|
10.9
|
|
|
|
105,000
|
|
|
|
12.7
|
|
|
|
112,000
|
|
|
|
13.3
|
|
|
|
43.0
|
|
Communications Group
|
|
|
8,528
|
|
|
|
3.4
|
|
|
|
1,000
|
|
|
|
0.4
|
|
|
|
1,000
|
|
|
|
0.4
|
|
|
|
(88.3
|
)
|
Document Solutions Group
|
|
|
28,080
|
|
|
|
8.7
|
|
|
|
40,000
|
|
|
|
11.4
|
|
|
|
40,000
|
|
|
|
10.8
|
|
|
|
42.5
|
|
Life & Environment Group
|
|
|
1,345
|
|
|
|
0.9
|
|
|
|
1,000
|
|
|
|
0.7
|
|
|
|
(9,000
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equipment & Systems Business
|
|
|
37,953
|
|
|
|
5.2
|
|
|
|
42,000
|
|
|
|
5.6
|
|
|
|
32,000
|
|
|
|
4.4
|
|
|
|
(15.7
|
)
|
Others
|
|
|
(1,759
|
)
|
|
|
|
|
|
|
(1,000
|
)
|
|
|
|
|
|
|
1,000
|
|
|
|
5.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit
|
|
|
114,504
|
|
|
|
8.0
|
|
|
|
146,000
|
|
|
|
9.4
|
|
|
|
145,000
|
|
|
|
9.3
|
|
|
|
26.6
|
|
Corporate and others
|
|
|
23,345
|
|
|
|
|
|
|
|
24,000
|
|
|
|
|
|
|
|
25,000
|
|
|
|
|
|
|
|
7.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes
|
|
¥
|
137,849
|
|
|
|
9.7
|
|
|
¥
|
170,000
|
|
|
|
10.9
|
|
|
¥
|
170,000
|
|
|
|
10.9
|
|
|
|
23.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*
|
% to net sales of each corresponding segment
|
Note: Kyocera has changed the classification of its reporting
segments from the year ending March 31, 2018. Business results for the year ended March 31, 2017 have been reclassified in line with the change to reporting segment classifications.
9
2. CONSOLIDATED FINANCIAL STATEMENTS
(1) Consolidated Balance Sheets (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2017
|
|
|
December 31, 2017
|
|
|
Increase
(Decrease)
|
|
|
|
Amount
|
|
|
%
|
|
|
Amount
|
|
|
%
|
|
|
|
|
(Yen in millions)
|
|
ASSETS
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
¥
|
376,195
|
|
|
|
|
|
|
¥
|
349,684
|
|
|
|
|
|
|
¥
|
(26,511
|
)
|
Short-term investments in debt securities
|
|
|
84,703
|
|
|
|
|
|
|
|
55,530
|
|
|
|
|
|
|
|
(29,173
|
)
|
Other short-term investments
|
|
|
212,668
|
|
|
|
|
|
|
|
234,898
|
|
|
|
|
|
|
|
22,230
|
|
Trade notes receivables
|
|
|
28,370
|
|
|
|
|
|
|
|
24,141
|
|
|
|
|
|
|
|
(4,229
|
)
|
Trade accounts receivables
|
|
|
291,485
|
|
|
|
|
|
|
|
308,250
|
|
|
|
|
|
|
|
16,765
|
|
Less allowances for doubtful accounts and sales returns
|
|
|
(5,593
|
)
|
|
|
|
|
|
|
(5,477
|
)
|
|
|
|
|
|
|
116
|
|
Inventories
|
|
|
331,155
|
|
|
|
|
|
|
|
407,988
|
|
|
|
|
|
|
|
76,833
|
|
Other current assets
|
|
|
119,714
|
|
|
|
|
|
|
|
127,846
|
|
|
|
|
|
|
|
8,132
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
1,438,697
|
|
|
|
46.3
|
|
|
|
1,502,860
|
|
|
|
46.9
|
|
|
|
64,163
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments and advances:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term investments in debt and equity securities
|
|
|
1,130,756
|
|
|
|
|
|
|
|
1,094,703
|
|
|
|
|
|
|
|
(36,053
|
)
|
Other long-term investments
|
|
|
22,246
|
|
|
|
|
|
|
|
26,492
|
|
|
|
|
|
|
|
4,246
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments and advances
|
|
|
1,153,002
|
|
|
|
37.0
|
|
|
|
1,121,195
|
|
|
|
35.0
|
|
|
|
(31,807
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Land
|
|
|
59,963
|
|
|
|
|
|
|
|
60,962
|
|
|
|
|
|
|
|
999
|
|
Buildings
|
|
|
351,431
|
|
|
|
|
|
|
|
363,324
|
|
|
|
|
|
|
|
11,893
|
|
Machinery and equipment
|
|
|
841,973
|
|
|
|
|
|
|
|
890,882
|
|
|
|
|
|
|
|
48,909
|
|
Construction in progress
|
|
|
14,097
|
|
|
|
|
|
|
|
22,592
|
|
|
|
|
|
|
|
8,495
|
|
Less accumulated depreciation
|
|
|
(1,000,860
|
)
|
|
|
|
|
|
|
(1,043,330
|
)
|
|
|
|
|
|
|
(42,470
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total property, plant and equipment
|
|
|
266,604
|
|
|
|
8.6
|
|
|
|
294,430
|
|
|
|
9.2
|
|
|
|
27,826
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill
|
|
|
110,470
|
|
|
|
3.5
|
|
|
|
142,114
|
|
|
|
4.4
|
|
|
|
31,644
|
|
Intangible assets
|
|
|
61,235
|
|
|
|
2.0
|
|
|
|
68,577
|
|
|
|
2.2
|
|
|
|
7,342
|
|
Other assets
|
|
|
80,462
|
|
|
|
2.6
|
|
|
|
72,407
|
|
|
|
2.3
|
|
|
|
(8,055
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
non-current
assets
|
|
|
1,671,773
|
|
|
|
53.7
|
|
|
|
1,698,723
|
|
|
|
53.1
|
|
|
|
26,950
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
¥
|
3,110,470
|
|
|
|
100.0
|
|
|
¥
|
3,201,583
|
|
|
|
100.0
|
|
|
¥
|
91,113
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2017
|
|
|
December 31, 2017
|
|
|
Increase
(Decrease)
|
|
|
|
Amount
|
|
|
%
|
|
|
Amount
|
|
|
%
|
|
|
|
|
(Yen in millions)
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term borrowings
|
|
¥
|
191
|
|
|
|
|
|
|
¥
|
155
|
|
|
|
|
|
|
¥
|
(36
|
)
|
Current portion of long-term debt
|
|
|
8,235
|
|
|
|
|
|
|
|
8,916
|
|
|
|
|
|
|
|
681
|
|
Trade notes and accounts payable
|
|
|
129,460
|
|
|
|
|
|
|
|
159,353
|
|
|
|
|
|
|
|
29,893
|
|
Other notes and accounts payable
|
|
|
60,881
|
|
|
|
|
|
|
|
63,937
|
|
|
|
|
|
|
|
3,056
|
|
Accrued payroll and bonus
|
|
|
62,868
|
|
|
|
|
|
|
|
55,691
|
|
|
|
|
|
|
|
(7,177
|
)
|
Accrued income taxes
|
|
|
15,707
|
|
|
|
|
|
|
|
15,679
|
|
|
|
|
|
|
|
(28
|
)
|
Other accrued liabilities
|
|
|
51,062
|
|
|
|
|
|
|
|
53,363
|
|
|
|
|
|
|
|
2,301
|
|
Other current liabilities
|
|
|
36,257
|
|
|
|
|
|
|
|
49,903
|
|
|
|
|
|
|
|
13,646
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
364,661
|
|
|
|
11.7
|
|
|
|
406,997
|
|
|
|
12.7
|
|
|
|
42,336
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt
|
|
|
16,409
|
|
|
|
|
|
|
|
18,046
|
|
|
|
|
|
|
|
1,637
|
|
Accrued pension and severance liabilities
|
|
|
31,720
|
|
|
|
|
|
|
|
32,165
|
|
|
|
|
|
|
|
445
|
|
Deferred income taxes
|
|
|
258,859
|
|
|
|
|
|
|
|
245,089
|
|
|
|
|
|
|
|
(13,770
|
)
|
Other
non-current
liabilities
|
|
|
19,912
|
|
|
|
|
|
|
|
27,205
|
|
|
|
|
|
|
|
7,293
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
non-current
liabilities
|
|
|
326,900
|
|
|
|
10.5
|
|
|
|
322,505
|
|
|
|
10.1
|
|
|
|
(4,395
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities
|
|
|
691,561
|
|
|
|
22.2
|
|
|
|
729,502
|
|
|
|
22.8
|
|
|
|
37,941
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kyocera Corporations shareholders equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock
|
|
|
115,703
|
|
|
|
|
|
|
|
115,703
|
|
|
|
|
|
|
|
|
|
Additional
paid-in
capital
|
|
|
165,230
|
|
|
|
|
|
|
|
165,000
|
|
|
|
|
|
|
|
(230
|
)
|
Retained earnings
|
|
|
1,638,116
|
|
|
|
|
|
|
|
1,684,258
|
|
|
|
|
|
|
|
46,142
|
|
Accumulated other comprehensive income
|
|
|
447,479
|
|
|
|
|
|
|
|
453,381
|
|
|
|
|
|
|
|
5,902
|
|
Common stock in treasury, at cost
|
|
|
(32,309
|
)
|
|
|
|
|
|
|
(32,339
|
)
|
|
|
|
|
|
|
(30
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Kyocera Corporations shareholders equity
|
|
|
2,334,219
|
|
|
|
75.1
|
|
|
|
2,386,003
|
|
|
|
74.5
|
|
|
|
51,784
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncontrolling interests
|
|
|
84,690
|
|
|
|
2.7
|
|
|
|
86,078
|
|
|
|
2.7
|
|
|
|
1,388
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
2,418,909
|
|
|
|
77.8
|
|
|
|
2,472,081
|
|
|
|
77.2
|
|
|
|
53,172
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and equity
|
|
¥
|
3,110,470
|
|
|
|
100.0
|
|
|
¥
|
3,201,583
|
|
|
|
100.0
|
|
|
¥
|
91,113
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Accumulated other comprehensive income is as
follows:
|
|
|
|
March 31, 2017
|
|
|
December 31, 2017
|
|
|
Increase
(Decrease)
|
|
|
|
(Yen in millions)
|
|
Net unrealized gains on securities
|
|
|
¥499,650
|
|
|
|
¥484,105
|
|
|
¥
|
(15,545
|
)
|
Net unrealized losses on derivative financial instruments
|
|
|
|
|
|
|
(449
|
)
|
|
|
|
|
|
|
(472
|
)
|
|
|
(23
|
)
|
Pension liability adjustment
|
|
|
|
|
|
|
(35,362
|
)
|
|
|
|
|
|
|
(37,153
|
)
|
|
|
(1,791
|
)
|
Foreign currency translation adjustments
|
|
|
|
|
|
|
(16,360
|
)
|
|
|
|
|
|
|
6,901
|
|
|
|
23,261
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
¥447,479
|
|
|
|
¥453,381
|
|
|
¥
|
5,902
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11
(2) Consolidated Statements of Income and Comprehensive Income (Unaudited)
Consolidated Statements of Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended December 31,
|
|
|
Increase
(Decrease)
|
|
|
|
2016
|
|
|
2017
|
|
|
|
|
Amount
|
|
|
%
|
|
|
Amount
|
|
|
%
|
|
|
Amount
|
|
|
%
|
|
|
|
(Yen in millions and shares in thousands, except per share amounts)
|
|
Net sales
|
|
¥
|
1,014,628
|
|
|
|
100.0
|
|
|
¥
|
1,145,016
|
|
|
|
100.0
|
|
|
¥
|
130,388
|
|
|
|
12.9
|
|
Cost of sales
|
|
|
751,398
|
|
|
|
74.1
|
|
|
|
829,709
|
|
|
|
72.5
|
|
|
|
78,311
|
|
|
|
10.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
263,230
|
|
|
|
25.9
|
|
|
|
315,307
|
|
|
|
27.5
|
|
|
|
52,077
|
|
|
|
19.8
|
|
Selling, general and administrative expenses
|
|
|
196,128
|
|
|
|
19.3
|
|
|
|
206,323
|
|
|
|
18.0
|
|
|
|
10,195
|
|
|
|
5.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit from operations
|
|
|
67,102
|
|
|
|
6.6
|
|
|
|
108,984
|
|
|
|
9.5
|
|
|
|
41,882
|
|
|
|
62.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expenses) :
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and dividend income
|
|
|
30,904
|
|
|
|
3.0
|
|
|
|
38,625
|
|
|
|
3.4
|
|
|
|
7,721
|
|
|
|
25.0
|
|
Interest expense
|
|
|
(566
|
)
|
|
|
(0.1
|
)
|
|
|
(983
|
)
|
|
|
(0.1
|
)
|
|
|
(417
|
)
|
|
|
|
|
Foreign currency transaction gains, net
|
|
|
553
|
|
|
|
0.1
|
|
|
|
111
|
|
|
|
0.0
|
|
|
|
(442
|
)
|
|
|
(79.9
|
)
|
Gains on sales of securities, net
|
|
|
103
|
|
|
|
0.0
|
|
|
|
400
|
|
|
|
0.1
|
|
|
|
297
|
|
|
|
288.3
|
|
Other, net
|
|
|
610
|
|
|
|
0.1
|
|
|
|
(2,273
|
)
|
|
|
(0.2
|
)
|
|
|
(2,883
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expenses)
|
|
|
31,604
|
|
|
|
3.1
|
|
|
|
35,880
|
|
|
|
3.2
|
|
|
|
4,276
|
|
|
|
13.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes
|
|
|
98,706
|
|
|
|
9.7
|
|
|
|
144,864
|
|
|
|
12.7
|
|
|
|
46,158
|
|
|
|
46.8
|
|
Income taxes
|
|
|
24,235
|
|
|
|
2.4
|
|
|
|
53,256
|
|
|
|
4.7
|
|
|
|
29,021
|
|
|
|
119.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
74,471
|
|
|
|
7.3
|
|
|
|
91,608
|
|
|
|
8.0
|
|
|
|
17,137
|
|
|
|
23.0
|
|
Net income attributable to noncontrolling interests
|
|
|
(3,619
|
)
|
|
|
(0.3
|
)
|
|
|
(1,341
|
)
|
|
|
(0.1
|
)
|
|
|
2,278
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Kyocera Corporations shareholders
|
|
¥
|
70,852
|
|
|
|
7.0
|
|
|
¥
|
90,267
|
|
|
|
7.9
|
|
|
¥
|
19,415
|
|
|
|
27.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per share information:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Kyocera Corporations shareholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
¥
|
192.88
|
|
|
|
|
|
|
¥
|
245.49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
|
192.88
|
|
|
|
|
|
|
|
245.49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average number of shares of common stock outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
367,334
|
|
|
|
|
|
|
|
367,710
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
|
367,334
|
|
|
|
|
|
|
|
367,710
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note:
Basic earnings per share
attributable to Kyocera Corporations shareholders is calculated based on the average number of shares of common stock outstanding during each period, and diluted earnings per share attributable to Kyocera Corporations shareholders is
calculated based on the diluted average number of shares of stock outstanding during each period.
12
Consolidated Statements of Comprehensive Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended December 31,
|
|
|
Increase
(Decrease)
|
|
|
|
2016
|
|
|
2017
|
|
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
|
(Yen in millions)
|
|
Net income
|
|
¥
|
74,471
|
|
|
¥
|
91,608
|
|
|
¥
|
17,137
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive incomenet of taxes
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized losses on securities
|
|
|
(9,529
|
)
|
|
|
(15,547
|
)
|
|
|
(6,018
|
)
|
Net unrealized losses on derivative financial instruments
|
|
|
(207
|
)
|
|
|
(52
|
)
|
|
|
155
|
|
Pension liability adjustment
|
|
|
(597
|
)
|
|
|
(1,967
|
)
|
|
|
(1,370
|
)
|
Foreign currency translation adjustments
|
|
|
2,656
|
|
|
|
25,645
|
|
|
|
22,989
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other comprehensive income
|
|
|
(7,677
|
)
|
|
|
8,079
|
|
|
|
15,756
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
|
|
|
66,794
|
|
|
|
99,687
|
|
|
|
32,893
|
|
Comprehensive income attributable to noncontrolling interests
|
|
|
(4,351
|
)
|
|
|
(3,544
|
)
|
|
|
807
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to Kyocera Corporations shareholders
|
|
¥
|
62,443
|
|
|
¥
|
96,143
|
|
|
¥
|
33,700
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) Notes to the Consolidated Financial Statements
Cautionary Statement for Premise of a Going Concern
Not applicable.
Cautionary Statement for Significant Changes in Equity
Not applicable.
Increase or Decrease in Significant Subsidiaries during the nine months ended
December 31, 2017
For the nine months ended December 31, 2017, Kyocera Crystal Device Corporation which was Kyocera
Corporations significant subsidiary was excluded from consolidation of Kyocera Corporation due to dissolution of Kyocera Crystal Device Corporation resulted from absorption-type merger with Kyocera Corporation as the surviving company on
April 1, 2017.
Changes in Accounting Policies
Recently Adopted Accounting Standards
The accounting standards which Kyocera
adopted on or after April 1, 2017 did not have material impacts on Kyoceras consolidated results of operations, financial condition and cash flows.
13