Jan. 31 (Bloomberg) — Kyocera Corp. reduced its forecast
for net income for the year ending March 31 because a slump in
demand for digital consumer products offset gains from its solar
energy business.
The Japanese electronics maker based in Kyoto said it
expects its profit to drop 24 percent to 57 billion yen ($627
million). The solar energy business in Japan will grow
“significantly” in the three months ending March 31, it said
in a statement today. Kyocera said in October it projects a net
income of 75 billion yen.
Japan began an incentive program for clean energy in July
that’s boosting solar panel installations across the country.
Kyocera has been developing solar cells since 1975.
Net income in the three months ended December rose 22.6
percent to 33 billion yen from a year ago, according to Kyocera.
Sales rose 13.2 percent to 318 billion yen.
Net income for the April-December period fell 37.6 percent
to 45 billion yen on year, while revenue rose 4.6 percent to 927
billion yen, Kyocera said in a filing.
Sales for its applied ceramic products increased during the
nine months because of growing demand in the solar business in
Japan as well as higher revenue from sales of cutting tools, the
company said.
To contact the reporter on this story:
Chisaki Watanabe in Tokyo at
cwatanabe5@bloomberg.net
To contact the editor responsible for this story:
Reed Landberg at
landberg@bloomberg.net
