Kyocera’s solar sales in Japan drop in fiscal 9-mo

SeeNews Renewables — Japan’s Kyocera Corp (TYO:6971) reported lower sales from its Applied Ceramic Products unit in the April-December 2015 period, as a result of falling solar sales in Japan.

The company noted that solar energy sales in the US have increased.

The Applied Ceramic division reported sales of JPY 177.76 billion (USD 1.5bn/EUR 1.3bn) for the first nine months of Kyocera’s fiscal 2015/16, marking a decline of 6.1% year-on-year. Growth in the cutting tool business has in part offset the lower solar sales in Japan, Kyocera said.

Operating profit at Applied Ceramic Products, meanwhile, grew by 30.6% to JPY 12.5 billion, mainly due to measures taken to cut costs in the solar energy business.

Kyocera reported consolidated nine-month sales of JPY 1.093 trillion, down by 0.8% on the year. Its operating profit fell by 26.8% to JPY 66.02 billion and net profit contracted by 19.6% to JPY 59.5 billion.

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