Kyocera Corporation announced its consolidated financial results for the first half of fiscal year 2024, covering the six months ended 30 September 2023 (the “first half,” or “FY24-H1”).
Kyocera explained that geopolitical volatility and price inflation continued globally during the first half, leading to weaker demand and inventory adjustments in the Company’s key markets for Semiconductor-related components and Information & Communications components.
Although its Solutions segment (includes MFPs) sales increased, the company’s consolidated sales revenue decreased 2.7% over the prior first half, to ¥985,290 million ($6.56 billion/ €6.18 billion), due mainly to reduced demand in key components markets.
Profits decreased as well, due mainly to a combination of lower sales revenue and inflation raising the cost of raw materials and energy.
Consolidated operating profit decreased 29.4% from the prior first half, to ¥54,002 million ($360 million/ €338 million).
Kyocera added: “While first-half consolidated financial results approached the Company’s original projections, the business environment is expected to be severe during the second half ending 31 March 2024.
“Markets for Semiconductor-related components and Information & Communications components are expected to continue to show weakness, marked by declining industry-wide shipments of smartphones and deferred capital investment in data centres.”
Based on these new expectations, the company has revised its consolidated full-year financial forecast downwards.
