KYOTO (dpa-AFX) - Kyocera Corp. (KYO) reported that its profit attributable to owners of the parent for the nine months ended December 31, 2018 declined to 79.42 billion yen or 219.00 yen per share from 93.09 billion yen or 253.16 yen per share last year.
Operating profit decreased by 44.1% to 60.58 billion yen from last year.
Profits decreased as compared with the previous nine months, due to the recording of settlement expenses in the amount of 52.31 billion yen relating to long-term purchase agreements for procurement of polysilicon material in the solar energy business and to the recording of impairment loss relating to machinery, equipment and goodwill in the organic materials business in the amount of 16.18 billion yen, which more than offset the effects of increased sales revenue and cost reductions efforts in each division.
Sales revenue for the period rose 6.1 percent to 1.21 trillion yen from 1.15 trillion yen last year. Sales increased in the Electronic Devices Group and the Industrial & Automotive Components Group as well as the Document Solutions Group due in part to contributions from aggressive merger and acquisition activities conducted from fiscal 2018.
Looking ahead for the year ending March 31, 2019, the company now expects Profit attributable to owners of the parent to be 90.00 billion yen or 248.36 yen per basic share, operating profit of 76.00 billion yen, and Sales revenue of 1.60 trillion yen.
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