Kyocera Q1 sales fall 4.2%, sells $1.6bn KDDI stake

Kyocera Corporation reported a 4.2% decline in first-quarter sales to JPY 478,038 million, hit by yen appreciation. Operating profit fell 11.5% to JPY 18,550 million due to a JPY 2.1 billion one-time cost from its silicon diode semiconductor business transfer.

Net profit rose 0.9% to JPY 37,143 million, boosted by JPY 4 billion lower tax expenses from selling KDDI shares. The company sold approximately 108 million KDDI shares for roughly JPY 250 billion, reducing cross-shareholdings by 17%.

Capital expenditures surged to JPY 59,015 million from JPY 31,914 million, driven by new factory construction.