Kyocera profits on solar strength

Kyocera’s group net profit spiked 33.5% to ¥88.8bn ($868.3m) in the fiscal year to 31 March, partly due to strong demand for its PV modules in Japan.

The Kyoto-based conglomerate’s operating profit grew 56.8% to ¥43.7m, from ¥76.9m in the previous fiscal year.

Sales in its applied ceramics unit – which produces PV modules, among other items – jumped 29% on the year to ¥272.8bn.

It attributed the division’s strong sales to “remarkable growth” in Japan’s utility-scale and commercial PV segments.

The company did not disclose how many PV modules it shipped for the year.

Last November, when it started running a 70MW PV plant in southern Japan’s Kagoshima prefecture, it raised its full-year shipment target from 1GW to 1.2GW.