KYOCERA CORPORATION, The Current Fiscal Year Net Income Revised Downward to an Unexpected 30% Decrease

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Wed Oct 30, 2024 3:00 pm JST Earnings

6971 KYOCERA CORPORATION 【IFRS】

Earnings Report

KYOCERA CORPORATION <6971> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 30th (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 36.1% from the same period last year to 36 billion yen.

In addition, the full-year consolidated net income has downwardly by 36.6%, from the previous forecast of 112 billion yen to 71 billion yen (compared to 101 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 29.8% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 21.7% from the same period last year to 34.9 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 719 million yen (compared to a profit of 19 billion yen in the same period last year). The operating profit margin worsened from 5.6% in the same period last year to 3.4%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	1,012,172	76,488	104,311	75,586	52.7	59.2	Oct 31, 2022	IFRS
Apr - Sep, 2023	985,290	54,002	77,867	56,487	39.9	57.2	Nov 1, 2023	IFRS
Apr - Sep, 2024	998,588	37,876	51,820	36,078	25.6	51.8	Oct 30, 2024	IFRS
YoY	+1.3%	-29.9%	-33.5%	-36.1%	-35.8%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	－	Apr 26, 2024	IFRS
Apr - Sep, 2024 Results	998,588	37,876	51,820	36,078	25.6	25	Oct 30, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,050,000	110,000	150,000	112,000	79.5	50	Apr 26, 2024	IFRS
Mar, 2025 New	2,020,000	68,000	100,000	71,000	50.4	50	Oct 30, 2024	IFRS
Revision Rate	-1.5%	-38.2%	-33.3%	-36.6%	-36.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,018,931	38,921	58,276	44,587	31.6	25	Apr 26, 2024	IFRS
Oct - Mar, 2024 Guidance	1,021,412	30,124	48,180	34,922	24.8	25	Oct 30, 2024	IFRS
YoY	+0.2%	-22.6%	-17.3%	-21.7%	-21.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,025,332	128,517	176,192	127,988	89.2	50	May 15, 2023	IFRS
Mar, 2024	2,004,221	92,923	136,143	101,074	71.6	50	Apr 26, 2024	IFRS
Mar, 2025 Guidance	2,020,000	68,000	100,000	71,000	50.4	50	Oct 30, 2024	IFRS
YoY	+0.8%	-26.8%	-26.5%	-29.8%	-29.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	505,870	28,325	27,390	19,095	13.5	5.6	Nov 1, 2023	IFRS
Oct - Dec, 2023	507,382	25,842	47,771	33,879	24.0	5.1	Feb 1, 2024	IFRS
Jan - Mar, 2024	511,549	13,079	10,505	10,708	7.6	2.6	Apr 26, 2024	IFRS
Apr - Jun, 2024	498,868	20,956	47,765	36,797	26.1	4.2	Aug 1, 2024	IFRS
Jul - Sep, 2024	499,720	16,920	4,055	-719	-0.5	3.4	Oct 30, 2024	IFRS
YoY	-1.2%	-40.3%	-85.2%	－	－