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.