Kyocera H1 Profit Down

(RTTNews) - Kyocera Corp. (KYO), a Japanese ceramics and electronics manufacturer, Thursday reported more than 40 percent decline in profit for the first half, as sales slid by nearly 13 percent, reflecting economic deterioration caused by the spread of COVID-19 pandemic.

For the half year, the Group's profit attributable to owners of the parent declined by 42.4 percent to 34.36 billion yen. Earnings per share dropped to 94.80 yen from 164.58 yen last year.

Operating profit for the period fell by 60.1 percent from last year to 24.06 billion yen.

Sales revenue for the first half slid 12.9 percent to 696.04 billion yen from last year's 799.05 billion yen.

Looking ahead, for the year ending March 31, 2021, the Group said it continues to expect attributable profit of 88 billion yen, basic earnings per share of 242.80 yen and sales revenue of 1.5 trillion yen.