Kyocera expects improving solar business profitability despite revenue decline

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  Kyocera’s Applied Ceramic Products Group, which houses its solar operations, had first quarter sales of 52,514 million yen (US$422.2 million), down 2.4% from the prior year period. Image: Kyocera

Japanese electronics firm Kyocera Corporation reported a small but consistent decline in PV sales in the first quarter of its 2016 financial results. 

Kyocera’s Applied Ceramic Products Group, which houses its solar operations, had first quarter sales of 52,514 million yen (US$422.2 million), down 2.4% from the prior year period. 

However, profits increased due to cost reduction measures, according to the company, resulting in a reported profit of 3,581 million yen (US$28.7 million). 

Applied Ceramic Products Group sales in the quarter declined compared with the previous first quarter due to weaker solar energy business for the public and commercial sectors primarily in Japan. 

Overall, Kyocera expects the Applied Ceramic Products Group to have FY2016 sales of 247,000 million yen (US$1.98 billion) down 11% from the previous year. Profit guidance of 19,000 million yen (US$152.7 million) for the financial year equates to a 500% increase of the previous year.