Japan: Solar lifts the gloom for Kyocera

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Although the parent group revised down its full-year operating profits forecast for its Applied Ceramics Products group, which includes its solar business, sales and operating profits for the segment for the nine months to the end of 2012 both rose year on year.

Increased sales and cost reductions in solar, as well as increased sales in cutting tools, drove sales for the Applied Ceramics division up 2.3% to Y136.7 billion (US$1.47 billion) with operating profits up a huge 37% to Y9.9 billion.

The rise was attributed mostly to the introduction of FITs in Japan in July and Kyocera is predicting continuing sales growth in its domestic market although its prediction for full year operating profits in Applied Ceramics has been revised down by Y1.5 billion to Y16.1 billion from the figure released in October.

For the group as a whole, sales rose 4.6% for the nine months to December 31, hitting Y926.5 billion although profits plunged 42% to Y51.2 billion and income before tax dropped 32.9% to Y68.8 billion.