During FY21, sales revenue and profit decreased compared with the year ended March 31, 2020 ("FY20") due to the impact of the economic downturn caused by the spread of COVID-19.
Sales revenue in the Components Business increased slightly compared with FY20 due to the contribution of M&A activities and increased demand in the semiconductor and 5G-related markets, which more than offset the significant adverse impact of a slump in the automotive-related market during the three months ended June 30, 2020. On the other hand, sales revenue in the Equipment & Systems Business decreased. As a result, sales revenue decreased by 4.5% compared with FY20.
Profits decreased as compared with FY20 due to the decrease in sales revenue and also an increase in depreciation charges as well as the recording of a one-time loss in the smart energy business. Operating profit decreased by 29.5%, profit before income taxes decreased by 21.0%, and profit attributable to owners of the parent decreased by 16.3%, compared with FY20.
[Released on April 27, 2021]
For FY22, although the impact of Covid-19 on the economy still remains a concern, the global economy is expected to recover as compared with FY21 as a result of the implementation of various infection prevention and economic stimulus measures adopted by countries around the world .
We aim to expand the Core Components Business and the Electronic Components Business by enhancing production systems and increasing production capacity of components mainly for 5G, semiconductors and ADAS-related products, for which demand will continue to increase in association with the progress of digitalization. In the Solutions Business, we will also actively develop new products and new businesses mainly in the document solutions unit. In addition, to further improve the productivity of Kyocera Group as a whole, we will promote the introduction of automated production lines utilizing artificial intelligence (AI) and robots.
Under the new management structure, we will strengthen our management foundation and steadily implement our initiatives with the aim of achieving record-high sales and improving profitability.