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Financial results presentation6971KYOCERA CORPORATIONElectrical Equipment and Precision Instruments

Financial Results Presentation Materials for the Fiscal Year Ending March 2026

In the fiscal year ended March 2026, profit increased significantly, driven by higher sales of semiconductor-related components, structural reforms and one-time gains. For the fiscal year ending March 2027, sales are projected to decline, while operating profit is expected to increase as the benefits of structural reforms take effect. The dividend policy will be changed to a DOE-based policy with progressive dividends.

Worth reading
64In focus
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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
90839
¥ million (year-on-year increase in operating income)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ending March 2026, full year12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,070,203 million+2.8%
Operating profit¥118,138 million+332.8%
Net income¥140,969 million +485.0%profit attributable to owners of the parent
Operating profit margin5.7 %
Results for the three months of the current quarter
Net Sales
¥548,207 million
Operating profit
¥47,517 million
Income before taxes
¥46,964 million
Quarterly profit attributable to owners of the parent
¥43,018 million
Full-year earnings forecast
Net Sales
¥1,940,000 million
Operating profit
¥130,000 million
Income before taxes
¥170,000 million
Profit for the period attributable to owners of the parent
¥141,000 million
EPS
¥100.54
Capital expenditures
¥225,000 million
Depreciation of property, plant and equipment
¥120,000 million
Research and development costs
¥120,000 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Reversal of impairment losses and other items recorded in the previous fiscal year in the Semiconductor Components Organic Materials businessApproximately +¥43.0 billion
  • Impairment loss on idle assets in the Semiconductor Components Organic Materials businessApproximately -¥5.0 billion
  • Loss on the transfer of the Silicon Diode and Power Semiconductor businessesApproximately -¥1.5 billion
  • Impairment loss in the Automotive Systems businessApproximately -¥5.0 billion
  • Gain on the transfer of SouthernCarlsonApproximately +¥17.0 billion
  • Impact of foreign exchange movements on profit before taxApproximately +¥6.5 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • ¥150
    AssumptionsAverage exchange rate for the fiscal year ending March 2027 (US dollar)
  • ¥175
    AssumptionsAverage exchange rate for the fiscal year ending March 2027 (euro)
  • Market prices in the second half of the fiscal year ending March 2026
    AssumptionsPrices of raw materials, including rare metals, rare earths, gold and semiconductor memory
New initiatives
  • Establishment of the Corporate Planning Office
  • Enhancement of business portfolio and investment management using ROIC
  • Change in the dividend policy to a DOE-based policy with progressive dividends
  • Plan to acquire approximately ¥250.0 billion of treasury shares in the fiscal year ending March 2027
  • Plan to cancel treasury shares, reducing the number from approximately 193 million to approximately 102 million
  • Plan to transfer the Chemicals business to Sumitomo Bakelite
  • Entry into the advanced electrostatic chuck market
  • Development of ceramic core substrates for chiplet packages
  • Expansion of the market shares of MLCCs and polymer tantalum capacitors for AI servers and data centers
Key KPIsA metric the company considers important as a management benchmark.
  • EPS¥102.7
  • ROE4.3 %
    Year on year against the same period last yearImproved from 0.7% in the fiscal year ended March 2025
  • Dividend payout ratio50.6 %
  • Policy-held shares as a percentage of net assets48.3 %
    Year on year against the same period last yearDown from 51.6% at the end of the fiscal year ended March 2025
  • Sales mix of advanced semiconductor and AI-related businessesApproximately 40%
Segment results
Core Components
Net Sales
¥653,429 million+10.4%
Profit
¥63,082 million
Electronic components
Net Sales
¥363,486 million+2.5%
Profit
¥7,316 million
Solutions
Net Sales
¥1,070,919 million-1.4%
Profit
¥103,943 million+41.0%
Other Businesses
Net Sales
¥14,196 million-17.1%
Profit
¥-41,168 million
Medium-term management plan targets
Fiscal year ending March 2028
Net Sales¥2,050.0 billion
Operating profit¥160.0 billion
Income before taxes¥192.0 billion
Profit for the period attributable to owners of the parent¥150 billion
ROE5.0% or more
Fiscal year ending March 2031
ROEAt least 8.0%
Market capitalizationTargeting a market capitalization of more than ¥5 trillion
Financial targets
ROE
Actual results for the fiscal year ending March 20264.3%
Forecast for the fiscal year ending March 20274.3%
Target for the fiscal year ending March 20285.0% or more
Target for the fiscal year ending March 2031At least 8.0%
ROICAchieve 10% in the Solutions business
Market Size / Share
Market shareHigh market shares are reported in ceramic structural components for SPE, ceramic packages for optical communications, and high-capacity miniature capacitors. Specific figures: not disclosed
Capital expenditures
149,099 Millions of yen fiscal year ended March 2026 actual
Annual Dividend
Fiscal year ending March 2026
Annual¥52 per share
Interim¥25 per share
End of period¥27 per share
Forecast for the fiscal year ending March 2027
Annual¥56 per share
Interim¥28 per share
End of period¥28 per share
Payout ratio
Fiscal year ending March 202650.6 %
PolicyDOE of approximately 3.5% for the fiscal years ending March 2027 and March 2028, with progressive dividends
Acquisition of treasury shares
Fiscal year ending March 2026
Approximately ¥200 billion
Number of SharesApproximately 91 million shares
PeriodResolved in May 2025 and completed in March 2026
Planned for the fiscal year ending March 2027
Approximately ¥250.0 billion
PeriodDuring the fiscal year ending March 2027
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFiscal year ending March 2026, full year
Net Sales¥2,070,203 million (YoY +2.8%)
Operating profit¥118,138 million (YoY +332.8%)
Net income¥140,969 million (profit attributable to owners of the parent) (YoY +485.0%)
Operating profit margin5.7 %
Results for the three months of the current quarterNet Sales ¥548,207 million / Operating profit ¥47,517 million / Income before taxes ¥46,964 million / Quarterly profit attributable to owners of the parent ¥43,018 million
Full-year earnings forecastNet Sales ¥1,940,000 million / Operating profit ¥130,000 million / Income before taxes ¥170,000 million / Profit for the period attributable to owners of the parent ¥141,000 million / EPS ¥100.54 / Capital expenditures ¥225,000 million / Depreciation of property, plant and equipment ¥120,000 million / Research and development costs ¥120,000 million
Segment resultsCore Components Net Sales ¥653,429 million (YoY +10.4%) / Profit ¥63,082 million / Electronic components Net Sales ¥363,486 million (YoY +2.5%) / Profit ¥7,316 million / Solutions Net Sales ¥1,070,919 million (YoY -1.4%) / Profit ¥103,943 million (YoY +41.0%) / Other Businesses Net Sales ¥14,196 million (YoY -17.1%) / Profit ¥-41,168 million
Breakdown of Factors Affecting the ChangeFactors Reversal of impairment losses and other items recorded in the previous fiscal year in the Semiconductor Components Organic Materials business / Amount Approximately +¥43.0 billion, Factors Impairment loss on idle assets in the Semiconductor Components Organic Materials business / Amount Approximately -¥5.0 billion, Factors Loss on the transfer of the Silicon Diode and Power Semiconductor businesses / Amount Approximately -¥1.5 billion, Factors Impairment loss in the Automotive Systems business / Amount Approximately -¥5.0 billion, Factors Gain on the transfer of SouthernCarlson / Amount Approximately +¥17.0 billion, Factors Impact of foreign exchange movements on profit before tax / Amount Approximately +¥6.5 billion
Key KPIsIndicator name EPS / Value ¥102.7 / Year on year against the same period last year Not disclosed, Indicator name ROE / Value 4.3 % / Year on year against the same period last year Improved from 0.7% in the fiscal year ended March 2025, Indicator name Dividend payout ratio / Value 50.6 % / Year on year against the same period last year Not disclosed, Indicator name Policy-held shares as a percentage of net assets / Value 48.3 % / Year on year against the same period last year Down from 51.6% at the end of the fiscal year ended March 2025, Indicator name Sales mix of advanced semiconductor and AI-related businesses / Value Approximately 40% / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookAssumptions Average exchange rate for the fiscal year ending March 2027 (US dollar) / Value ¥150, Assumptions Average exchange rate for the fiscal year ending March 2027 (euro) / Value ¥175, Assumptions Prices of raw materials, including rare metals, rare earths, gold and semiconductor memory / Value Market prices in the second half of the fiscal year ending March 2026
Medium-term management plan targetsFiscal year ending March 2028 Net Sales ¥2,050.0 billion / Operating profit ¥160.0 billion / Income before taxes ¥192.0 billion / Profit for the period attributable to owners of the parent ¥150 billion / ROE 5.0% or more / Fiscal year ending March 2031 ROE At least 8.0% / Market capitalization Targeting a market capitalization of more than ¥5 trillion
Financial targetsROE Actual results for the fiscal year ending March 2026 4.3% / Forecast for the fiscal year ending March 2027 4.3% / Target for the fiscal year ending March 2028 5.0% or more / Target for the fiscal year ending March 2031 At least 8.0% / Equity ratio Not disclosed / Debt-to-equity ratio Not disclosed / ROIC Achieve 10% in the Solutions business
Annual DividendFiscal year ending March 2026 Annual ¥52 per share / Interim ¥25 per share / End of period ¥27 per share / Forecast for the fiscal year ending March 2027 Annual ¥56 per share / Interim ¥28 per share / End of period ¥28 per share
Payout ratioFiscal year ending March 2026 50.6 % / Policy DOE of approximately 3.5% for the fiscal years ending March 2027 and March 2028, with progressive dividends
Acquisition of treasury sharesFiscal year ending March 2026 Amount Approximately ¥200 billion / Number of Shares Approximately 91 million shares / Period Resolved in May 2025 and completed in March 2026 / Planned for the fiscal year ending March 2027 Amount Approximately ¥250.0 billion / Number of Shares Not disclosed / Period During the fiscal year ending March 2027
Capital expenditures149,099 Millions of yen (fiscal year ended March 2026 actual)
Market Size / ShareMarket share High market shares are reported in ceramic structural components for SPE, ceramic packages for optical communications, and high-capacity miniature capacitors. Specific figures: not disclosed
New initiativesEstablishment of the Corporate Planning Office, Enhancement of business portfolio and investment management using ROIC, Change in the dividend policy to a DOE-based policy with progressive dividends, Plan to acquire approximately ¥250.0 billion of treasury shares in the fiscal year ending March 2027, Plan to cancel treasury shares, reducing the number from approximately 193 million to approximately 102 million, Plan to transfer the Chemicals business to Sumitomo Bakelite, Entry into the advanced electrostatic chuck market, Development of ceramic core substrates for chiplet packages, Expansion of the market shares of MLCCs and polymer tantalum capacitors for AI servers and data centers
Items this document does not state (11)
Ordinary incomeGross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

In the fiscal year ended March 2026, profit growth was driven by higher sales centered on semiconductor components, progress in structural reforms, the absence of impairment losses recorded in the previous fiscal year, and a one-time gain associated with the transfer of SouthernCarlson. For the fiscal year ending March 2027, the transfer of SouthernCarlson is expected to reduce sales, while the benefits of structural reforms in the Core Components and Electronic Components businesses are expected to increase profit.

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Financial Results Presentation Materials for the Fiscal Year Ending March 2026 | KYOCERA CORPORATION (6971) timely disclosure | Komori