# KYOCERA CORPORATION: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第72期(2025/04/01－2026/03/31) (S100YF47)
> Page: https://vizora.meequs.com/en/company/kyocera
> Retrieved: 2026-09-30T19:49:38.210Z

## Company

Kyocera, founded in 1959, is a company in Smartphones & Communications Equipment listed on TSE Prime. It has 73,856 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | KYOCERA CORPORATION |
| Ticker | 6971 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6971.T) |
| Listing | TSE Prime |
| Head office | 京都市伏見区竹田鳥羽殿町6番地 |
| Representative (per filing) | 代表取締役社長 執行役員社長 最高経営責任者 作島史朗 |
| Founded | Apr 1959 |
| Share capital | ¥115.7B |
| Employees (consolidated) | 73,856 |
| Average salary (parent only) | ¥7.4M |
| Fiscal year end | March |
| Website | www.kyocera.co.jp (https://www.kyocera.co.jp/) |
| Corporate number | 4130001000049 |
| EDINET | E01182 |
| Industries (Vizora) | Smartphones & Communications Equipment, Glass & Ceramics, Electronic Components, Printers & Office Equipment |

> Profile source: annual securities report (S100YF47, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: Printers & Office Equipment (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 37.5 | 12 |
| Profitability | 50 | 11 |
| Cash conversion | 86.4 | 11 |
| Efficiency | 4.2 | 12 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 50% of Kyocera's sales come from Solutions Business, with Core Components Business and Electronic Components Business making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +2.8% from the prior year, operating profit +332.8%.

## Company structure

- Segment revenue mix: Solutions Business 50.5%、Core Components Business 31.5%、Electronic Components Business 17.5%、Other 0.5%
- Revenue → net income: ¥2070203000000 → ¥144920000000
- Net income → operating cash flow: ¥144920000000 → ¥226235000000（difference ¥81315000000）
- Main uses of operating cash flow: CapEx ¥173046000000 / dividends ¥72173000000 / buybacks ¥200003000000
- Change in cash: ¥11143000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥2.07T |  |
| Operating income | ¥118.1B | Margin 5.7% |
| Net income | ¥141B | Margin 6.8% |
| Free cash flow | ¥53.2B |  |
| Largest business | Solutions Business | of segment revenue 50.5% |
| Employees (consolidated) | 73,856 |  |
| EPS | ¥102.7 |  |
| Book value per share | ¥1853.54 |  |
| Equity ratio | 71.9% | Derived from disclosed figures |
| Shares outstanding | 1,510,474,320 |  |
| Treasury shares | 193,068,300 |  |
| Shareholders | 95,561 |  |
| Average salary (parent only) | ¥7.4M | Filing company only |
| Cash ratio | 9.8% | Cash ÷ revenue 22.0% |
| Vs. industry median margin | +0.4 pp | Smartphones & Communications Equipment |
| ROE | 4.3% | Derived from disclosed figures |
| ROA | 3.1% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -4% while operating income rose 333%
- FY2026, buybacks were 2.8× dividends

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1526897000000 | ¥2070203000000 | +35.6% |
| Operating income | ¥70644000000 | ¥118138000000 | +67.2% |
| Operating margin | 4.6% | 5.7% | +1.1 pp |
| Employees | 78,490 people | 73,856 people | -5.9% |
| Cash and equivalents | ¥386727000000 | ¥455887000000 | +17.9% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 産業・自動車用部品 → 事業再編・廃止 | 11.8% |
| コアコンポーネント → コアコンポーネント | 14.2% |
| 半導体関連部品 → 事業再編・廃止 | 8.7% |
| 電子部品 → 電子部品 | 9.0% |
| ソリューション → ソリューション | 26.8% |
| 電子デバイス → 事業再編・廃止 | 9.9% |
| その他の事業 → その他の事業 | 0.3% |
| コミュニケーション → 事業再編・廃止 | 7.0% |
| ドキュメントソリューション → 事業再編・廃止 | 10.4% |
| 生活・環境 → 事業再編・廃止 | 2.0% |
| 新設・再編 → コアコンポーネント | 17.3% |
| 新設・再編 → 電子部品 | 8.6% |
| 新設・再編 → ソリューション | 23.6% |
| 新設・再編 → その他の事業 | 0.3% |

Segment revenue source references: 14 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Solutions Business | 5 years | +5.1% | ¥1044452000000 | 10.0% | 2 |
| Core Components Business | 5 years | +8.6% | ¥652597000000 | 9.7% | 2 |
| Electronic Components Business | 5 years | +5.9% | ¥362646000000 | 2.0% | 2 |
| Other | 5 years | +6.5% | ¥10508000000 | -391.8% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,070,203 | 100.0% | S100YF47 |
| Cost of revenue | 1,462,560 | 70.6% | S100YF47 |
| Gross profit | 607,643 | 29.4% | S100YF47 |
| SG&A | 512,622 | 24.8% | S100YF47 |
| Operating income | 118,138 | 5.7% | S100YF47 |
| Pretax income | 168,994 | 8.2% | S100YF47 |
| Income tax | 24,074 | 1.2% | S100YF47 |
| Net income | 144,920 | 7.0% | S100YF47 |
| Net income attributable to owners | 140,969 | 6.8% | S100YF47 |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 70 |
| SG&A | 25 |
| Other operating | -1 |
| Operating income | 6 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 29.4% → Operating margin 5.7% → Net margin 6.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +2.8%; Core profit growth: +332.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 120.24×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 2,014,454 | 2,070,203 | 55,749 | +2.8% |
| Gross profit | 559,174 | 607,643 | 48,469 | +8.7% |
| Operating income | 27,299 | 118,138 | 90,839 | +332.8% |
| Net income attributable to owners | 24,097 | 140,969 | 116,872 | +485.0% |
| Operating cash flow | 237,918 | 226,235 | -11,683 | -4.9% |
| Free cash flow | 70,074 | 53,189 | -16,885 | -24.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 1,422,754 | — | — | 103,843 | 164,231 | — | S100LQMQ |
| FY ending Mar 2018 | 1,577,039 | — | — | 79,137 | 158,905 | — | S100OH5T |
| FY ending Mar 2019 | 1,623,710 | — | — | 103,210 | 220,025 | — | S100R598 |
| FY ending Mar 2020 | 1,599,053 | 100,193 | 6.3% | 107,721 | 214,630 | 93,896 | S100LQMQ |
| FY ending Mar 2021 | 1,526,897 | 70,644 | 4.6% | 90,214 | 220,821 | 88,695 | S100OH5T |
| FY ending Mar 2022 | 1,838,938 | 148,910 | 8.1% | 148,414 | 201,957 | 55,055 | S100R598 |
| FY ending Mar 2023 | 2,025,332 | 128,517 | 6.3% | 127,988 | 179,212 | -7,431 | S100TPZT |
| FY ending Mar 2024 | 2,004,221 | 92,923 | 4.6% | 101,074 | 269,069 | 109,330 | S100W0VP |
| FY ending Mar 2025 | 2,014,454 | 27,299 | 1.4% | 24,097 | 237,918 | 70,074 | S100YF47 |
| FY ending Mar 2026 | 2,070,203 | 118,138 | 5.7% | 140,969 | 226,235 | 53,189 | S100YF47 |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥28M |
| Operating income per employee (consolidated) | ¥1.6M |
| Net income per employee (consolidated) | ¥1.9M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 83,001 | 81,209 | 79,185 | 77,136 | 73,856 |
| Average salary (parent company) | ¥7.3M | ¥7.2M | ¥6.9M | ¥6.9M | ¥7.4M |
| Average age (parent company) | 40.5 years | 39.7 years | 40.0 years | 40.0 years | 40.1 years |
| Average tenure (parent company) | 16.4 years | 16.1 years | 15.6 years | 15.7 years | 16.0 years |

Year over year: Employees (consolidated) -4.3% · Revenue (consolidated) +2.8%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Core Components Business | 652,597 | 31.5% | 63,082 | 9.7% |
| Electronic Components Business | 362,646 | 17.5% | 7,316 | 2.0% |
| Solutions Business | 1,044,452 | 50.5% | 103,943 | 10.0% |
| Other | 10,508 | 0.5% | -41,168 | -391.8% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Core Components Business | 31.5% | 36.2% | 4.7 | 9.7% |
| Electronic Components Business | 17.5% | 4.2% | -13.3 | 2.0% |
| Solutions Business | 50.5% | 59.6% | 9.2 | 10.0% |
| Other | 0.5% | — | — | -391.8% |

Loss-making segment (excluded from profit shares): Other -41,168 JPY mn

Segment → industry: Solutions Business → Smartphones & Communications Equipment / Core Components Business → Glass & Ceramics / Electronic Components Business → Electronic Components / Core Components Business → Electronic Components / Solutions Business → Printers & Office Equipment

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 226,235 | 10.9% | S100YF47 |
| Capital expenditure | 173,046 | 8.4% | S100YF47 |
| Free cash flow | 53,189 | 2.6% | 算出 |
| Investing cash flow | 74,539 | 3.6% | S100YF47 |
| Financing cash flow | -311,961 | -15.1% | S100YF47 |
| Dividends paid | 72,173 | 3.5% | S100YF47 |
| Share buyback | 200,003 | 9.7% | S100YF47 |
| Change in cash | 11,143 | 0.5% | S100YF47 |
| Cash and equivalents | 455,887 | 22.0% | S100YF47 |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 414,129 | 373,500 | 424,792 | 444,744 | 455,887 | S100TPZT, S100W0VP, S100YF47 |
| Total assets | 3,917,265 | 4,093,928 | 4,465,376 | 4,511,307 | 4,646,314 | S100R598, S100TPZT, S100W0VP, S100YF47 |
| Net assets | 2,898,273 | 3,048,835 | 3,252,858 | 3,243,234 | 3,367,372 | S100TPZT, S100W0VP, S100YF47 |
| Share capital | 115,703 | 115,703 | 115,703 | 115,703 | 115,703 | S100R598, S100TPZT, S100W0VP, S100YF47 |
| Property, plant and equipment | 512,175 | 587,478 | 665,990 | 651,949 | 685,492 | S100R598, S100TPZT, S100W0VP, S100YF47 |
| Goodwill | 262,985 | 271,156 | 282,879 | 282,239 | 273,968 | S100R598, S100TPZT, S100W0VP, S100YF47 |
| Current assets | 1,329,123 | 1,357,312 | 1,439,354 | 1,435,748 | 1,501,151 | S100R598, S100TPZT, S100W0VP, S100YF47 |
| Total liabilities | 1,018,992 | 1,045,093 | 1,212,518 | 1,268,073 | 1,278,942 | S100R598, S100TPZT, S100W0VP, S100YF47 |
| Equity attributable to owners of parent | 2,871,554 | 3,023,777 | 3,225,595 | 3,217,788 | 3,339,431 | S100R598, S100TPZT, S100W0VP, S100YF47 |
| Retained earnings | 1,846,102 | 1,912,372 | 1,967,527 | 1,942,485 | 2,215,875 | S100R598, S100TPZT, S100W0VP, S100YF47 |
| Treasury stock | -93,299 | -93,243 | -143,141 | -142,994 | -342,951 | S100R598, S100TPZT, S100W0VP, S100YF47 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 10% | S100YF47 |
| Property, plant and equipment | 15% | S100YF47 |
| Intangibles and goodwill | 6% | — |
| Other assets | 69% | S100YF47 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 28% | S100YF47 |
| Equity | 72% | S100YF47 |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 3,917,265 | 4,093,928 | 4,465,376 | 4,511,307 | 4,646,314 |
| Equity | 2,898,273 | 3,048,835 | 3,252,858 | 3,243,234 | 3,367,372 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 414,129 | 373,500 | 424,792 | 444,744 | 455,887 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 33.1% | S100YF47 |
| Fixed assets ÷ total assets | 14.8% | S100YF47 |
| Goodwill ÷ parent equity | 8.2% | S100YF47 |

Goodwill over 4 years: 262,985 → 273,968 JPY; total investing cash flow: -482,645 JPY. This does not imply causation.

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 9.8% |
| Cash ÷ revenue | 22.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 191.5% |
| Cash vs. profit gap | 85,266 JPY mn (of net income 60.5%) |
| Shareholder returns / net income | 193.1% |
| Shareholder returns / FCF | 511.7% |
| Shareholder payments — dividends / net income | 51.2% |
| Shareholder payments — dividends / FCF | 135.7% |
| CapEx intensity (capex ÷ revenue) | 8.4% |
| Investing CF relative to operating CF | 32.9% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 8.1% | 0.47× | 3.8% | 1.36× | 5.2% | S100R598 |
| 2023 | 6.3% | 0.51× | 3.2% | 1.36× | 4.3% | S100TPZT |
| 2024 | 5.0% | 0.47× | 2.4% | 1.37× | 3.2% | S100W0VP |
| 2025 | 1.2% | 0.45× | 0.5% | 1.39× | 0.7% | S100YF47 |
| 2026 | 6.8% | 0.45× | 3.1% | 1.40× | 4.3% | S100YF47 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行㈱ （信託口） | Major shareholder | 23.2% | 2026-03-31 |
| ㈱日本カストディ銀行（信託口） | Major shareholder | 8.6% | 2026-03-31 |
| ㈱京都銀行 | Major shareholder | 4.4% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 ㈱みずほ銀行） | Major shareholder | 4.1% | 2026-03-31 |
| 公益財団法人稲盛財団 | Major shareholder | 2.8% | 2026-03-31 |
| 京セラ自社株投資会 | Major shareholder | 1.8% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 （常任代理人 ㈱みずほ銀行） | Major shareholder | 1.4% | 2026-03-31 |
| ㈱三菱UFJ銀行 | Major shareholder | 1.4% | 2026-03-31 |
| HSBC HONG KONG - TREASURY SERVICES A/C ASIAN EQUITIES DERIVATIVES （常任代理人 香港上海銀行） | Major shareholder | 1.3% | 2026-03-31 |
| 第一生命保険㈱ | Major shareholder | 1.3% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue edged up +2.8% to ¥2.07T in the FY ending Mar 2026, from ¥2.01T a year earlier.
- Profits bounced back sharply: operating income rose +332.8% to ¥118.1B, and net income attributable to owners rose +485.0% to ¥141B.
- Cash told a different story. Operating cash flow slipped -4.9% to ¥226.2B, and free cash flow fell -24.1% to ¥53.2B.

### Drivers

- Sales of chip-related parts, such as organic packages for data centers, grew and lifted the Core Components segment
- Last year's impairment loss in the organic materials business for chip parts did not recur, and this year added a gain from selling the US subsidiary Kyocera Industrial Tools
- Selling KDDI shares raised taxable income and with it tax credits, cutting the tax bill; withholding tax paid on that sale weighed on operating cash flow

### Risks

- Unexpected changes in foreign laws and rules, such as higher tariffs or import and export controls
- Data leaks or system outages from cyberattacks and similar incidents
- Weaker demand in key markets or steeper-than-expected price declines, which could strain cash

Cited: Annual securities report (72nd fiscal period) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual securities report (72nd fiscal period) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第72期(2025/04/01－2026/03/31) | S100YF47 | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YF47,, |
| 有価証券報告書－第71期(2024/04/01－2025/03/31) | S100W0VP | 2025-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0VP,, |
| 有価証券報告書－第70期(2023/04/01－2024/03/31) | S100TPZT | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TPZT,, |
| 有価証券報告書－第69期(2022/04/01－2023/03/31) | S100R598 | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R598,, |
| 有価証券報告書－第68期(令和3年4月1日－令和4年3月31日) | S100OH5T | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OH5T,, |
| 有価証券報告書－第67期(令和2年4月1日－令和3年3月31日) | S100LQMQ | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQMQ,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| 加賀電子 | Supply/OEM | 京セラの部品を加賀電子が販売（販売代理店契約） | S100YNQJ |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).