April 27, 2021
Financial Presentation
(Year Ended March 31, 2021)
Hideo Tanimoto
President and Representative Director
This is an English translation of the Japanese original. This translation is prepared for the reference and convenience solely for those who do not use Japanese. In the event of any discrepancy between this translation and the Japanese original, the latter shall prevail.
© KYOCERA Corporation
1. Financial Results for the Year Ended March 31, 2021
1 | © KYOCERA Corporation |
Financial Results for the Year Ended March 31, 2021
(Unit: Yen in millions)
For the year ended March 31, | Change | |||||||||||
2020 | 2021 | |||||||||||
Amount | % to sales | Amount | % to sales | Amount | % | |||||||
revenue | revenue | |||||||||||
Sales revenue | 1,599,053 | 100.0% | 1,526,897 | 100.0% | -72,156 | -4.5% | ||||||
Operating profit | 100,193 | 6.3% | 70,644 | 4.6% | -29,549 | -29.5% | ||||||
Profit before income taxes | 148,826 | 9.3% | 117,559 | 7.7% | -31,267 | -21.0% | ||||||
Profit attributable to owners of the parent | 107,721 | 6.7% | 90,214 | 5.9% | -17,507 | -16.3% | ||||||
EPS (Basic-yen) | 297.36 | − | 248.91 | − | -48.45 | − | ||||||
Capital expenditures | 106,003 | 6.6% | 117,106 | 7.7% | 11,103 | 10.5% | ||||||
Depreciation charge of property, plant | 62,413 | 3.9% | 73,811 | 4.8% | 11,398 | 18.3% | ||||||
and equipment | ||||||||||||
R&D expenses | 79,241 | 5.0% | 75,457 | 4.9% | -3,784 | -4.8% | ||||||
Average | US$ | 109 yen | 106 yen | |||||||||
exchange rate | Euro | 121 yen | 124 yen | |||||||||
(Reference) Foreign currency fluctuation effect on sales revenue and profit before income taxes for the year ended March 31, 2021 | ||||||||||||
compared with the previous fiscal year. | Sales revenue: Approx. -9 billion yen (No significant effect on profit) |
2 | © KYOCERA Corporation |
Sales Revenue by Reporting Segment for the Year Ended March 31, 2021
(Unit: Yen in millions)
For the year ended March 31, | Change | ||||||||||||
2020 | 2021 | ||||||||||||
Amount | % of sales | Amount | % of sales | Amount | % | ||||||||
revenue | revenue | ||||||||||||
Industrial & Automotive Components Group | 341,093 | 21.3% | 359,044 | 23.5% | 17,951 | 5.3% | |||||||
Semiconductor Components Group | 247,228 | 15.5% | 263,595 | 17.3% | 16,367 | 6.6% | |||||||
Electronic Devices Group | 324,113 | 20.3% | 305,170 | 20.0% | -18,943 | -5.8% | |||||||
Total Components Business | 912,434 | 57.1% | 927,809 | 60.8% | 15,375 | 1.7% | |||||||
Communications Group | ※ 270,818 | 17.0% | 232,739 | 15.2% | -38,079 | -14.1% | |||||||
Document Solutions Group | 359,915 | 22.5% | 316,226 | 20.7% | -43,689 | -12.1% | |||||||
63,898 | 4.2% | ||||||||||||
Life & Environment Group | ※ | 73,747 | 4.6% | -9,849 | -13.4% | ||||||||
Total Equipment & Systems Business | 704,480 | 44.1% | 612,863 | 40.1% | -91,617 | -13.0% | |||||||
Others | 16,737 | 1.0% | 18,169 | 1.2% | 1,432 | 8.6% | |||||||
Adjustments and eliminations | ※ | -34,598 | -2.2% | -31,944 | -2.1% | 2,654 | − | ||||||
Sales revenue | 1,599,053 | 100.0% | 1,526,897 | 100.0% | -72,156 | -4.5% | |||||||
※On April 1, 2020, a domestic subsidiary, Kyocera Communication Systems Co., Ltd., which is included in "Communications Group," absorbed and merged with a domestic subsidiary Kyocera Solar Corporation, which was included in "Life & Environment Group."
As a result, "For the year ended March 31, 2020" in the above table is presented in the reporting segment after the merger.
3 | © KYOCERA Corporation |
Business Profit by Reporting Segment for the Year Ended March 31, 2021
(Unit: Yen in millions)
For the year ended March 31, | Change | |||||||||||
2020 | 2021 | |||||||||||
Amount | % to sales | Amount | % to sales | Amount | % | |||||||
revenue | revenue | |||||||||||
Industrial & Automotive Components Group | 15,813 | 4.6% | 18,142 | 5.1% | 2,329 | 14.7% | ||||||
Semiconductor Components Group | 30,511 | 12.3% | 28,260 | 10.7% | -2,251 | -7.4% | ||||||
Electronic Devices Group | 31,744 | 9.8% | 25,268 | 8.3% | -6,476 | -20.4% | ||||||
Total Components Business | 78,068 | 8.6% | 71,670 | 7.7% | -6,398 | -8.2% | ||||||
Communications Group | ※ | 11,259 | 4.2% | 14,597 | 6.3% | 3,338 | 29.6% | |||||
Document Solutions Group | 34,489 | 9.6% | 28,759 | 9.1% | -5,730 | -16.6% | ||||||
Life & Environment Group | ※ -10,965 | − | -23,952 | − | -12,987 | − | ||||||
Total Equipment & Systems Business | 34,783 | 4.9% | 19,404 | 3.2% | -15,379 | -44.2% | ||||||
Others | -4,484 | − | -3,102 | − | 1,382 | − | ||||||
Total business profit | 108,367 | 6.8% | 87,972 | 5.8% | -20,395 | -18.8% | ||||||
Corporate and others | ※ | 40,459 | − | 29,587 | − | -10,872 | -26.9% | |||||
Profit before income taxes | 148,826 | 9.3% | 117,559 | 7.7% | -31,267 | -21.0% | ||||||
※On April 1, 2020, a domestic subsidiary, Kyocera Communication Systems Co., Ltd., which is included in "Communications Group," absorbed and merged with a domestic subsidiary Kyocera Solar Corporation, which was included in "Life & Environment Group."
As a result, "For the year ended March 31, 2020" in the above table is presented in the reporting segment after the merger.
4 | © KYOCERA Corporation |
Summary of Financial Results for the Year Ended March 31, 2021
Despite the impact of COVID-19 infection, active investments for growth centered on the Components Business were continued
Components
Business (Increase in sales revenue and decrease in profits)
Equipment & Systems Business (Decreases in sales revenue and profits)
- Demand was sluggish until Q1 but has been on a recovery track since Q2
- Increased demand for semiconductor and 5G-related components
- Fine ceramic components for semiconductor processing equipment (Industrial & Automotive Components Group)
- Ceramic packages for use in 5G capable devices (Semiconductor Components Group)
- Increase in depreciation expenses of approximately 10 billion yen
Continued active investments in anticipation of an increase in medium-term demand
- Demand decreased for mobile phone handsets and office equipment
- An impairment loss of 11.5 billion yen was recorded in the smart energy business
- Due to cost reduction efforts, profits increased in the Communications Group and profit margin maintained at virtually the same level as in the previous fiscal year in the Document Solutions Group
5 | © KYOCERA Corporation |
Financial Results for FY3/2021 by Reporting Segment (1)
Industrial & Automotive Components Group | Semiconductor Components Group | |||||||||||
Sales revenue | Business profit | Business profit ratio (%) | 500.0 | Sales revenue | Business profit | Business profit ratio (%) | ||||||
500.0 | (Unit : Yen in billions) | 400.0 | (Unit : Yen in billions) | |||||||||
341.1359.0
4.6%5.1%
15.818.1
0.0
FY3/2020FY3/2021
<Major reasons for change>
+ Increased sales in pneumatic/power tools due to the contribution of M&A and components for semiconductor processing equipment
+ Despite the impact of higher depreciation charge, business profit rose due to increased sales and cost reduction efforts
300.0 | 247.2 | 263.6 | |||||
12.3% | |||||||
200.0 | 10.7% | ||||||
30.5 | |||||||
100.0 | 28.3 | ||||||
0.0 | 0.0 | 0.0 | |||||
FY3/2020 | |||||||
FY3/2021 |
<Major reasons for change>
+ Demand for ceramic packages for use in 5G capable smartphones increased
- Business profit decreased due to increase in costs particularly in depreciation charge
6 | © KYOCERA Corporation |
Financial Results for FY3/2021 by Reporting Segment (2)
Electronic Devices Group
500
Sales revenue | Business profit | Business profit ratio (%) | ||
(Unit : Yen in billions)
324.1305.2
9.8% | 8.3% |
31.7 | ※ | 25.3 | ||
0 | 0 | |||
FY3/2020 | FY3/2021 |
<Major reasons for change>
+ Demand increased for ceramic capacitors, crystal devices and SAW devices for 5G capable smartphones
- Sales of AVX Corporation and of printing devices decreased due to lower demand in industrial markets
- Profits decreased due to a decline in sales revenue and an increase in depreciation charge
Communications Group
500.0
Sales revenue | Business profit | Business profit ratio (%) | |||||||
450.0 | |||||||||
400.0 | (Unit : Yen in billions) | ||||||||
350.0 | 270.8 | ||||||||
300.0 | 232.7 | ||||||||
250.0 | |||||||||
6.3% | |||||||||
200.0 | |||||||||
4.2% | |||||||||
150.0 | |||||||||
14.6 | |||||||||
100.0 | 11.3 | ||||||||
50.0 | |||||||||
0.0 | 0.0 | ||||||||
FY3/2020 | |||||||||
FY3/2021 |
<Major reasons for change>
- Decrease in the number of mobile phone handsets sold in the telecommunications equipment business
- Decreased sales of the engineering business in the information system and telecommunication services business
+ Business profit increased as a result of cost reduction efforts
- Costs related to litigation of approximately 10 billion yen was recorded
at AVX Corporation | 7 | © KYOCERA Corporation |
Financial Results for FY3/2021 by Reporting Segment (3)
Document Solutions Group | Life & Environment Group |
500 | Sales revenue | Business profit | Business profit ratio (%) | |||
170.0 | Sales revenue | Business profit | Business profit ratio (%) | ||
359.9
(Unit : Yen in billions)
(Unit : Yen in billions) |
120.0 |
316.2
9.6%9.1%
34.528.8
0 | 0 | |
FY3/2020FY3/2021
<Major reasons for change>
- Although demand has been in a recovery trend after bottoming out in Q1 FY3/2021, it has not reached the level of FY3/2020 and demand for printers, MFPs and consumables decreased
+ Business profit margin remained at virtually the same level thanks to productivity improvements and cost reduction efforts
70.0 | 73.7 | 63.9 | |
20.0 | |||
-30.0 | -11.0 | -24.0 | -30 |
FY3/2020 | FY3/2021 |
<Major reasons for change>
- Decreased sales of solar power generation systems in the smart energy business
- Recorded an impairment loss of 11.5 billion yen relating to machinery, equipment and goodwill as well as intangible assets in the smart energy business in FY3/2021
8 | © KYOCERA Corporation |
2. Change of Business Segment
9 | © KYOCERA Corporation |
Change of Business Segment
FY3/2018 to FY3/2021
Business segment | Major businesses and subsidiaries | ||
Fine Ceramic Components | |||
Industrial & Automotive | Automotive Components | ||
Liquid Crystal Displays | |||
Components Group | |||
Industrial Tools | |||
Optical Components | |||
Semiconductor | Ceramic Packages | ||
Components Group | Organic Packages and Boards | ||
Electronic Devices Group | Electronic Components | ||
AVX Corporation | |||
Printing Devices | |||
Telecommunications Equipment | |||
Communications Group | Information systems and | ||
Telecommunication Services (KCCS※1) | |||
Document Solutions Group | Information Equipment (KDC※2) | |
Smart Energy Business | ||
Life & Environment Group | Medical Devices | |
Jewelry and Applied Ceramic Related Products | ||
※1 | Kyocera Communication Systems Co., Ltd. | |
※2 | Kyocera Document Solutions Inc. |
FY3/2022 onward
Business segment | Major businesses and subsidiaries | ||||
Industrial & Automotive Components Unit | |||||
Fine Ceramic Components
Automotive Components
Optical Components
Core Components Semiconductor Components Unit
BusinessCeramic Packages
Organic Packages and Boards
Others | |||
Medical Devices | |||
Jewelry and Applied Ceramic Related Products | |||
Electronic Components | Electronic Components | ||
Business | AVX Corporation | ||
Industrial Tools Unit
Industrial Tools
Document Solutions Unit
Information Equipment (KDC※2)
Communications Unit
Solutions BusinessTelecommunications Equipment
Information systems and
Telecommunication Services (KCCS※1)
Others |
Liquid Crystal Displays |
Printing Devices |
SmartEnergy Business |
10 | © KYOCERA Corporation |
Aim of reorganization of business structure and priority measures for new business segments
1. Aim of reorganization of business structure
Strategic planning and execution | Greater mobility of | Enhance efficiency and |
human resources and | promote effective use of | |
across business divisions | ||
vitalization of organizations | management resources | |
Implement speedier and dynamic management decisions that transcend the existing organization framework by delegating substantial authority of top management to the directors in charge of each segment
2. Priority measures for each business segment
Core Components Business
Electronic Components Business
Solutions Business
Realize sales growth and improvements in profitability by focusing on growth fields such as 5G and semiconductors and strengthening technology development
Expand sales and profits by enhancing sales capabilities through the consolidation of global sales forces and maximizing synergy through a combination of manufacture and development resources
Establish New Brand
Build a new business model by utilizing communication technologies and software
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
11 | © KYOCERA Corporation |
3. Financial Forecasts for the Year Ending March 31, 2022
12 | © KYOCERA Corporation |
Financial Forecasts for the Year Ending March 31, 2022
(Unit: Yen in millions)
Year ended March 31, | Year ending March 31, | Change | |||||||||||
2021 | 2022 | ||||||||||||
Amount | % to sales | Amount | % to sales | Amount | % | ||||||||
revenue | revenue | ||||||||||||
Sales revenue | 1,526,897 | 100.0% | 1,730,000 | 100.0% | 203,103 | 13.3% | |||||||
Operating profit | 70,644 | 4.6% | 117,000 | 6.8% | 46,356 | 65.6% | |||||||
Profit before income taxes | 117,559 | 7.7% | 160,000 | 9.2% | 42,441 | 36.1% | |||||||
Profit attributable to owners of the parent | 90,214 | 5.9% | 113,000 | 6.5% | 22,786 | 25.3% | |||||||
EPS (Basic-yen) | 248.91 | - | 311.78 | - | 62.87 | - | |||||||
Capital expenditures | 117,106 | 7.7% | 170,000 | 9.8% | 52,894 | 45.2% | |||||||
Depreciation charge of property, plant | 73,811 | 4.8% | 100,000 | 5.8% | 26,189 | 35.5% | |||||||
and equipment | |||||||||||||
R&D expenses | 75,457 | 4.9% | 90,000 | 5.2% | 14,543 | 19.3% | |||||||
Average | US$ | 106 yen | 105 yen | ||||||||||
exchange rate | Euro | 124 yen | 125 yen |
(Reference) Estimated foreign currency fluctuation effect on sales revenue and profit before income taxes for the year ending March 31, 2022 compared with the previous fiscal year.
Note: Forecast of EPS (Basic-yen) is calculated using the average number of shares outstanding for the year ended March 31, 2021. Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
13 | © KYOCERA Corporation |
Summary of Financial Forecast for the Year Ending March 31, 2022
(1) Planning for record-high sales revenue | (2) Continue active business investment |
-
Increase in demand for components in main markets
・Components for 5G and semiconductor markets ・ADAS-related components - Trend of Sales Revenue (Yen in billions) >
Record-high
- Capital investment for further increasing production of strategic products
- Accelerate development of new businesses
-
Trend of Capital Expenditures and R&D Expenses (Yen in billions) >
Capital expenditures R&D expenses
Record-high
1,623.7 | 1,599.1 | 1,730.0 | |
1,526.9 | |||
FY3/2019 | FY3/2020 | FY3/2021 | FY3/2022 |
(Forecast) |
260.0 | |||
186.9 | 185.2 | 192.6 | 90.0 |
69.9 | 79.2 | 75.5 | |
117.0 | 106.0 | 117.1 | 170.0 |
FY3/2019 | FY3/2020 | FY3/2021 | FY3/2022 |
(Forecast) |
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
14 | © KYOCERA Corporation |
Main Business Investments in FY3/2022
Capital Expenditures: Increase production capacity of strategic products
Expand production capacity mainly for 5G related components
Ceramic packages | Organic packages | Ceramic Capacitors |
Kagoshima Sendai Plant | Kyoto Ayabe Plant | Kagoshima Kokubu Plant |
R&D: Accelerate new business and new product development
Strengthen commercialization of development themes and new product development for medium- to-long-term growth
GaN(Gallium Nitride) | AI Collaborative Robot | 5G Smart Routers | Local 5G System | Inkjet Printer |
Systems Business | System Business | |||
Organize as a new business | Full-scale deployment | Promote verification | Promote development |
department from FY3/2022 | in May 2021 | testing toward launch | for new product |
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
15 | © KYOCERA Corporation |
Sales Revenue Forecast by Reporting Segment for the Year Ending March 31, 2022
(Unit: Yen in millions)
Year ended | Year ending | Change | ||||||||
March 31, 2021 | March 31, 2022 | |||||||||
Amount | % of sales | Amount | % of sales | Amount | % | |||||
revenue | revenue | |||||||||
Core Components Business | 424,669 | 27.8% | 455,000 | 26.3% | 30,331 | 7.1% | ||||
Industrial & Automotive Components Unit | 135,884 | 8.9% | 145,000 | 8.4% | 9,116 | 6.7% | ||||
Semiconductor Components Unit | 263,595 | 17.3% | 280,000 | 16.2% | 16,405 | 6.2% | ||||
Others | 25,190 | 1.6% | 30,000 | 1.7% | 4,810 | 19.1% | ||||
Electronic Components Business | 273,002 | 17.9% | 320,000 | 18.5% | 46,998 | 17.2% | ||||
Solutions Business | 835,213 | 54.7% | 957,000 | 55.3% | 121,787 | 14.6% | ||||
Industrial Tools Unit | 193,066 | 12.6% | 209,000 | 12.1% | 15,934 | 8.3% | ||||
Document Solutions Unit | 316,226 | 20.7% | 370,000 | 21.4% | 53,774 | 17.0% | ||||
Communications Unit | 232,739 | 15.2% | 270,000 | 15.6% | 37,261 | 16.0% | ||||
Others | 93,182 | 6.2% | 108,000 | 6.2% | 14,818 | 15.9% | ||||
Others | 18,169 | 1.2% | 28,000 | 1.6% | 9,831 | 54.1% | ||||
Adjustments and eliminations | -24,156 | -1.6% | -30,000 | -1.7% | -5,844 | − | ||||
Sales revenue | 1,526,897 | 100.0% | 1,730,000 | 100.0% | 203,103 | 13.3% |
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
16 | © KYOCERA Corporation |
Business Profit (Loss) Forecast by Reporting Segment for the Year Ending March 31, 2022
(Unit: Yen in millions)
Year ended | Year ending | Change | |||||||||
March 31, 2021 | March 31, 2022 | ||||||||||
Amount | % to sales | Amount | % to sales | Amount | % | ||||||
revenue | revenue | ||||||||||
Core Components Business | 30,549 | 7.2% | 41,000 | 9.0% | 10,451 | 34.2% | |||||
Industrial & Automotive Components Unit | 4,241 | 3.1% | 12,000 | 8.3% | 7,759 | 183.0% | |||||
Semiconductor Components Unit | 28,260 | 10.7% | 29,000 | 10.4% | 740 | 2.6% | |||||
Others | -1,952 | - | 0 | 0.0% | 1,952 | − | |||||
Electronic Components Business | 23,000 | 8.4% | 40,000 | 12.5% | 17,000 | 73.9% | |||||
Solutions Business | 37,506 | 4.5% | 74,000 | 7.7% | 36,494 | 97.3% | |||||
Industrial Tools Unit | 15,721 | 8.1% | 22,000 | 10.5% | 6,279 | 39.9% | |||||
Document Solutions Unit | 28,759 | 9.1% | 42,000 | 11.4% | 13,241 | 46.0% | |||||
Communications Unit | 14,597 | 6.3% | 12,000 | 4.4% | -2,597 | -17.8% | |||||
Others | -21,571 | − | -2,000 | − | 19,571 | − | |||||
Others | -3,102 | − | -15,000 | − | -11,898 | − | |||||
Total business profit | 87,953 | 5.8% | 140,000 | 8.1% | 52,047 | 59.2% | |||||
Corporate and others | 29,606 | − | 20,000 | − | -9,606 | -32.4% | |||||
Profit before income taxes | 117,559 | 7.7% | 160,000 | 9.2% | 42,441 | 36.1% |
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
17 | © KYOCERA Corporation |
Financial Forecasts for FY3/2022 by Reporting Segment
(1) Core Components Business
Sales revenue | Business profit | |
Industrial & Automotive | (Unit : Yen in billions) |
Components Unit |
Business profit ratio (%) (Unit : Yen in billions)
Semiconductor | (+7%) |
Components Unit | |
Others |
7.2%
9.0%
FY3/2021 FY3/2022 (Forecast)
Industrial & Automotive Components Unit
- Increase in demand for fine ceramic components for semiconductor processing equipment and automotive cameras along with the advance of ADAS
(+34%)
41.0
12.0
29.0
0
FY3/2021 カFY3/2022テゴリ 2 (Forecast)
- Increase in profits due to higher sales revenue and cost reduction efforts such as a doubling of productivity in the Industrial & Automotive Components Unit
Semiconductor Components Unit
- Increase in demand for ceramic packages and organic packages for 5G capable smartphones and communication infrastructure
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
18 | © KYOCERA Corporation |
Financial Forecasts for FY3/2022 by Reporting Segment
(2) Electronic Components Business
Sales revenue
(Unit : Yen in billions)
(+17%)
FY3/2021 FY3/2022 (Forecast)
Business profit
Business profit ratio (%) (Unit : Yen in billions)
12.5%
8.4%
(+74%) 40.0
FY3/2021FY3/2022 カテゴリ 2 (Forecast)
- Sales increase at AVX Corporation along with a recovery of demand in industrial markets and the automotive- related market
- Increase in demand for 5G-related and in-vehicle electronic components
- Sales increase due to further collaboration between Kyocera and AVX Corporation
- Increase in profits due to a rise in sales of high-profit products and cost reduction efforts
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
19 | © KYOCERA Corporation |
Financial Forecasts for FY3/2022 by Reporting Segment
(3) Solutions Business
Sales revenue | |||||||
Industrial Tools Unit | (Unit : Yen in billions) | ||||||
Document Solutions Unit | (+15%) | ||||||
Communications Unit | |||||||
Others | |||||||
FY3/2021 FY3/2022 (Forecast)
Document Solutions Unit- Recovery in demand for printers, MFPs and consumables and an increase in sales of the solution business and the inkjet printing business
Business profit
Business profit ratio (%) (Unit : Yen in billions)
7.7%
4.5%
(+97%) 74.0
22.0
42.0
12.0
※-2.0
FY3/2021FY3/2022 (Forecast)
- Increase in profits due to higher sales revenue and cost reduction efforts such as review of production system in each business
Communications Unit
- Increase in sales of communications equipment for companies and 5G capable devices
※An impairment loss of 11.5 billion yen was recorded in the smart energy business
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
20 | © KYOCERA Corporation |
4. Enhance Corporate Value
21 | © KYOCERA Corporation |
Initiatives for Strengthening Corporate Governance
1. Strengthening the supervisory functions of the Board of Directors
[Current]
Internal Directors 12 persons
Outside Directors 3 persons
① ② ③
① CPA ② Professor of Graduate School ③ Attorney-at-law
[Scheduled proposal for submission at the Ordinary General Meeting of Shareholders in June 2021]
Internal Directors 6 persons
Outside Directors 3 persons
② ③ ④
- Corporate Executive
Total 15 persons | Total 9 persons |
Toward a 1/3 ratio of Outside Directors |
2. Appointment of Independent Outside Director
New Candidate for Director
(Scheduled proposal for submission at the Ordinary General Meeting of Shareholders in June 2021)
Name | New Title |
Eiji Kakiuchi | Outside Director |
[Representative Director, Chairman, Member of the Board of SCREEN Holdings Co., Ltd.] | |
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
22 | © KYOCERA Corporation |
Aiming for Sustainable Growth in Corporate Value
Management indicators
4.5%
.0
1,623.7
8.7%
Sales revenue (billion yen)
4.6%
1,599.1 1,526.9
9.3%
Profit before income taxes (billion yen) Profit margin (%) ROE (%)
Toward the medium-term
3.6% | target of 8% or higher | ||
2,000.0 | |||
700 | |||
1,730.0 | |||
600 | |||
Quickly achieve sales | 15.0% | 500 | |
7.7% | 9.2% of 2 trillion yen toward | 300.0 | 400 |
further growth | 300 | ||
140.6 | 148.8 | 117.6 | 160.0 | 200 | |||||||
.0 | 100 | ||||||||||
0 | |||||||||||
FY3/2019FY3/2019 | FY3/2020FY3/2020 | FY3/2021FY3/2021 | FY3/2022FY3/2022 | 列1 | (Target)(Target) | ||||||
(Forecast) | |||||||||||
Management | ・ Set ROE target | Consider initiatives for further | |||||||||
・ Announce the appropriate | strengthening our management base | ||||||||||
measures | |||||||||||
implementation of share buybacks | ・ Implement organizational restructuring | ||||||||||
・ Raise the dividend payout ratio | ・ Strengthen the supervisory functions of the Board of Directors | ||||||||||
・Establish nomination | ・ Appoint female officers | (aim for a 1/3 ratio of outside directors) ※ | |||||||||
・ Appoint corporate manager as an Outside Director ※ | |||||||||||
and remuneration | ・ Introduce restricted stock | ||||||||||
committees | compensation system | ※ Scheduled proposal for submission at the Ordinary General Meeting of Shareholders in June 2021 | |||||||||
FY3/2019 | FY3/2020 | FY3/2021 | FY3/2022 |
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
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Shareholder Return
<Trends in cash dividends per share and the payout ratio>
Dividend Policy (Based on consolidated payout ratio)
Aim to further improve
Around 40% from FY3/2017
55.8%
49.1%
38.9%
Commemoration | ||||||
dividend of 20 yen 140 yen | ||||||
120 yen | 20 yen | |||||
110 yen | ||||||
60 yen | 60 yen | |||||
60 yen | ||||||
50 yen | 60 yen | 60 yen |
Around 50% from FY3/2020
53.8% 56.2% 51.3%
Increase of 20 | |
yen from the | |
160 yen latest forecast | 160 yen |
140 yen |
80 yen | 120 yen |
80 yen
80 yen
60 yen
shareholder return through improved business performance
Consolidated Payout Ratio
Year-end Dividend per share
Interim Dividend per share
Latest forecast of
annual dividend per share for FY3/2021
FY3/2017 | FY3/2018 | FY3/2019 | FY3/2020 | FY3/2021 | FY3/2022 |
IFRS | (Plan) | (Forecast) | |||
Please refer to "Cautionary Statements with respect to Forward-Looking Statements" on the last page.
24 | © KYOCERA Corporation |
Cautionary Statements with respect to Forward-Looking Statements
Certain of the statements made in this document are forward-looking statements, which are based on our current assumptions and beliefs in light of the information currently available to us. These forward-looking statements involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors include, but are not limited to the following:
- General conditions in the Japanese or global economy;
- Unexpected changes in economic, political and legal conditions in countries where we operate or export;
- The effect of foreign exchange fluctuations on our results of operations;
- Intense competitive pressures to which our products are subject;
- Fluctuations in the price and ability of suppliers to provide the required quantity of raw materials for use in our production activities;
- Manufacturing delays or defects resulting from outsourcing or internal manufacturing processes;
- The possibility that future initiatives and in-process research and development may not produce the desired results;
- Companies or assets acquired by us not produce the returns or benefits, or bring in business opportunities;
- Inability to secure skilled employees;
- Damages on our information security systems from cyberattacks, etc. and significant costs in order to recover and maintain the systems;
- Insufficient protection of our trade secrets and intellectual property rights including patents;
- Expenses associated with licenses we require to continue to manufacture and sell products;
- Unintentional conflict with laws and regulations or newly enacted laws and regulations;
- Environmental liability and compliance obligations by tightening of environmental laws and regulations;
- Inability to respond to global climate change problems or delay in such response, which may lead to increased costs and negatively impact our corporate brands;
- Our market or supply chains being affected by plague, infectious diseases, terrorism, wars or similar events;
- Earthquakes and other natural disasters affecting our headquarters and major facilities as well as our suppliers and customers;
- Credit risk on trade receivables;
- Fluctuations in the value of financial instruments held by us;
- Impairment losses on property, plant and equipment, goodwill and intangible assets;
- Uncertainty over income tax and deferred tax assets; and
- Changes in accounting standards.
Due to such risks, uncertainties and other factors, our actual results, performance, achievements or financial condition may be substantially different from any future results, performance, achievements or financial condition expressed or implied by these forward-looking statements. We undertake no obligation to publicly update any forward-looking statements included in this document.
25 | © KYOCERA Corporation |
© KYOCERA Corporation
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Kyocera Corporation published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 07:04:05 UTC.