Kyocera reports falling revenues for solar business

Japanese electronics company & cell/module manufacturer, Kyocera has reported improved overall financials for the first quarter of the Japanese financial year, with a 12.3% increase in revenues. For the company’s activities in solar, however, signs are less encouraging.

13.7 MW floating solar PV plant on the Yamakura Dam reservoir. Kyocera has remained active in Japan's large-scale project sector, despite the falling FIT.

Image: Kyocera Corporation

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Kyocera saw solar sales fall in the quarter ending June 30, 2018, as restructuring of its business in this segment continues. Despite this, the company was able to report JPY 387, 484 million (US$3,491 million) in revenues for the quarter, a 12.3% increase over the same period in 2017.

The company attributed strong performance in its electronic devices, industrial & automotive components and document solutions segments as the drivers behind this revenue increase.

For the ‘Life and Environment’ segment, which includes Kyocera’s solar activities, however, sales revenues fell by 24%, to JPY 18,692 million ($167.6 million). This meant a JPY 3,015 million ($27 million) loss for the segment.

“Sales in this reporting segment decreased compared with the previous first quarter due to a decline in sales in the solar energy business,” states the report. “A business loss was recorded due primarily to this decrease in sales and an increase in R&D expenses.”

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The figures for this quarter continue from Kyocera’s full year 2018 (to March 31, 2018) report, which also saw falling revenues in the Life and Environment reporting segment. Kyocera has cited downsizing of its solar activities in the United States, as well as the write down of a long-term polysilicon purchase agreement as reasons for the weaker performance over recent reporting periods.

The company is in the process of restructuring its solar manufacturing activities to focus on facilities in Shiga Prefecture, Japan, and Tianjin, China.

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