Kyocera sees solar decline on back of falling demand

Although the company expects rising demand in its domestic solar market, it predicted uncertainty in China and "prolonged stagnation" in Europe, as it issued a negatively revised forecast for group revenues for the year ending March 31, 2013.

The Applied Ceramic Products segment of Kyocera‘s reporting figures – which includes cutting tools along with photovoltaics – lost Yen5.3 billion (around US$66.4 million) in sales on the same period of 2011, falling from Yen90.7 billion to Yen85.4 billion, with operating profit falling Yen1 billion on the same basis from Yen6.3 billion to Yen5.2 billion, a drop of 16.8%.

The Applied Ceramic Products forecast figures for the year ending March 31, 2013, were revised down accordingly with predicted net sales reduced by Yen10 billion to Yen210 billion, compared to the Yen179.8 billion recorded on March 31, 2012. The operating profit figure, however, was revised upwards from Yen17 billion to Yen17.6 billion.