Kyocera Corp. said Friday it has cut its group earnings projections for the fiscal first half amid disappointing sales of mobile phones and personal handy-phone system handsets.
The comprehensive ceramics maker said that the smaller-than-expected mobile handset sales reflect the delayed launch of these products.
Kyocera also blamed the revised estimates on delayed sales of new copier machines and other information-equipment products, as well as on procurement-related one-time losses of some 7.5 billion yen at a U.S. subsidiary.
Kyocera had initially planned to book these one-time losses in the second half.
Kyocera said it now expects to generate a group net profit of 13 billion yen for the six months to Sept. 30, revised downward from the 22 billion yen projected in April.
The company also revised its group pretax profit estimate to 21.5 billion yen from the earlier projected 40 billion yen.