During FY23Q1, reflecting concerns about a resurgence of COVID-19 and unstable global situations, supply chain disruptions and price increases in raw materials, etc., continued. In addition, exchange rates for the yen fell sharply, affected by factors such as an interest rate hike in the United States. On the other hand, 5G and semiconductor-related markets, our principal markets, continued to show strong demand and proactive capital investment.
At Kyocera, due to the contribution of investments in expanding component production to meet robust demand and to an increase in sales by the Industrial Tools Unit, sales revenue for the first quarter increased by 16.9%, as compared with the three months ended June 30, 2021 ("FY22Q1"), marking a record high for a quarterly period.
Profit also increased as compared with FY22Q1, due to the increase in sales revenue and impact of the weaker yen, as well as the efforts to improve productivity in each business. Operating profit increased by 28.0%, profit before income taxes increased by 26.1%, and profit attributable to owners of the parent increased by 22.6%.
[Released on August 1, 2022]
The forecast for FY23 has not been changed from the forecast announced in April 2022.
Consolidated financial results for FY23Q1 were generally within the range of projections at the beginning of FY23. In the three months ending September 30, 2022 and onward, although the outlook remains uncertain due to the effects of price increases in raw materials, etc., we aim to achieve our consolidated financial forecasts by capturing the demand for components in the 5G and semiconductor-related markets.