By Monica Alleven
Friday, October 30, 2009
The global economy isn't doing much for Japan's Kyocera. The company says sales of mobile phone handsets remained low in Japan and the United States the first half of this year, and overall profit for the company declined more than 80 percent compared with the previous first half.
The company said it promoted comprehensive cost-cutting measures amid a harsh business environment. Still, net income attributable to shareholders for the first half amounted to $92 million (U.S.), a decrease of 80.7 percent compared with last year.
Looking ahead, the company says that although business conditions will remain uncertain during the second half, especially regarding the global economy and exchange rates, Kyocera will "vigorously strive to secure orders for products where demand is forecast to grow." In addition, Kyocera says it will pursue increased profitability by further cutting costs and improving productivity as a means to achieve its full-year financial forecasts.