Kyocera lowers FY 2012/13 profit projections to USD 1.1bn

Aug 1, 2012 - Japanese electronic and solar power equipment maker Kyocera Corp (TYO:6971) today cut its net profit forecast for fiscal 2012/13 through March to JPY 86.4 billion (USD 1.1bn/EUR 899m) from the JPY 96 billion it guided for in April.

For comparison, the company booked a profit of JPY 79.4 billion in fiscal 2011/12.

Pretax profit is now seen at JPY 129.9 billion, compared with the earlier guidance of JPY 151.2 billion. The company also lowered its operating profit expectations to JPY 118.7 billion from JPY 140 billion. In fiscal 2011/12, Kyocera's pretax profit was JPY 114.9 billion, while its operating profit stood at JPY 97.7 billion.

The company reaffirmed its projections for revenues of JPY 1.37 trillion in the year through March 2013.

Kyocera also said it expected the general business environment to improve as demand for solar power system was to surge on the recent launch of feed-in tariffs for renewable energy in Japan, and also due to a projected growth in demand for components for smartphones, tablets and other pieces of machinery, regardless of the currency exchange fluctuations and the financial crisis in Europe.

(JPY 100 = USD 1.280/EUR 1.041)

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