Japanese electronics firm, Kyocera reported first six months financial results that echoed those of Panasonic and Sharp, which have been impacted by weaker domestic demand for products due to an increase in the consumption tax rate.
Growth in the solar energy market in Japan declined, dragging overall sales and profits down, according to Kyocera.
The company said that it’s Applied Ceramic Products Group, which includes its PV business was also impacted by a small ASP decline, probably as a result of strong competition from Chinese producers in the Japanese market as well as the absence of sales to large-scale PV projects and the commercial sector in the period covered.
Applied Ceramic Products Group reported sales of 124.7 billion yen (US$1,097 billion), a 2.2% decline from the same period a year ago. Operating profit was said to have declined to 5.7 billion yen (US$50.1 million), or 61%.