Kyocera Corp. recently announced consolidated financial results for the first half of fiscal year 2017, covering the six months that ended September 30, 2016. Consolidated net sales for the first half of fiscal 2017 decreased 9.6% from the first half of 2016 to ¥653.2 billion (approximately $6.5 billion) mainly due to the appreciation of the yen. Profit from operations decreased 45.5% to ¥33.8 billion (~ $335 million). Income before taxes decreased 37.7% to ¥48.6 billion (~ $481 million), and net income attributable to shareholders decreased 28.8% to ¥36.2 billion (~ $358 million).

The principal markets served by Kyocera and its subsidiaries experienced mixed results during the first half. In the automotive market, growth remained stable due primarily to rising vehicle sales in China and Europe. In the information and communications market, while demand grew for certain miniaturized, highly functional components, demand for other component products slackened due to stagnating shipments of smartphones and production adjustments by mobile phone manufacturers worldwide. In the global solar energy market, photovoltaic module pricing continued to erode, and demand in Japan decreased due to the impact of changes to a feed-in tariff that reduced the price of power purchased from solar power system owners.

For the third quarter of fiscal 2017 ending December 31, 2016, and thereafter, uncertainty exists regarding the demand trend for smartphone components. However, Kyocera expects increased sales of solar energy products—mainly for industrial use in the Japanese market—and increased sales in its equipment business due to new product launches and sales promotion activities. Based on these expectations, Kyocera’s sales and profit forecasts for the fiscal year ending March 31, 2017, remain unchanged from those announced in April 2016.

For more information, visit http://global.kyocera.com.