On Jan. 30, Kyocera Corp. announced its financial results for the third quarter and nine-month period ending Dec. 31, 2019.

For the nine-month period, sales revenue of ¥1,196,885 million ($11 billion), down 1.4% from the year-ago period. Operating profit was up 56.6%, which Kyocera said was due mainly to the absence of a one-time charge in the aggregate amount of approximately ¥68.5 billion, which resulted from, among others, structural reforms in the solar energy business and the organic materials business, recorded in the previous nine months.

The document solutions group saw sales revenue of ¥267.5 billion ($2.46 billion), down 2.3% year over year, and business profit down 8.6% to ¥27.5 billion ($252.7 million). In its earnings presentation, Kyocera noted that “despite the contribution from M&A conducted in the previous fiscal year, sales and profit decreased due to the yen’s appreciation” but that the company “maintained a profit margin of 10% by enhancing productivity and reducing costs.”

The forecast for the full fiscal year ending March 31, 2020, was revised 4.4% downward from ¥1,700,000 to ¥1,625,000, which would result in a year-over-year change of .1% from 2019’s sales revenues of ¥1,632,710.

The forecast for the document solutions group was revised downward from ¥397,000 million to ¥375,500 million, which would again be near-even with the previous year’s reporting of ¥375,147 million.

For the next quarter, Kyocera expects continued adjustments in the automotive-related and industrial machinery markets, while for FY 2021 it expects to see a recovery in the semiconductor industry and a further increase in the demand for 5G-related products.

See the full report and supporting materials at Kyocera’s Investor Relations page.

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