Kyocera Corporation shares fell 4% on Monday after reporting operating profit of ¥16.5 billion for the July-September quarter, missing the ¥40.5 billion consensus estimate.
A ¥29.5 billion impairment on GaN devices and ¥7.6 billion in provisions for energy-related products drove the shortfall. Excluding these impairments, underlying performance exceeded consensus expectations, according to Citi analysts.
Ceramic products for solid polymer electrolyte applications, multilayer ceramic capacitors, and tantalum capacitors performed strongly for artificial intelligence data centers. In cutting tools, demand increased ahead of planned price increases. Citi said the operating environment supports continued sales growth from the second half of the fiscal year.
Kyocera maintained its full-year operating profit guidance despite the impairments. Management stated that assumptions for some products remain conservative.