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Kyocera 6-K 2009

Documents found in this filing:

  1. 6-K
  2. 6-K
Form 6-K
Table of Contents

FORM 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of June 2009

Commission File Number: 1-07952

KYOCERA CORPORATION

6 Takeda Tobadono-cho, Fushimi-ku,

Kyoto 612-8501, Japan

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F        X            Form 40-F                

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Registration S-T Rule 101(b)(1):    

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Registration S-T Rule 101(b)(7):    

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes                        No        X    

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b); 82-            


Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

 

  KYOCERA CORPORATION
 

/s/ Shoichi Aoki

  Shoichi Aoki
  Director,
 

Managing Executive Officer

and General Manager of

  Corporate Financial & Accounting Group
Date: June 29, 2009  


Table of Contents

Information furnished on this form :

EXHIBITS

 

    Exhibit    
    Number    
    
1.    Correction of “Consolidated and Non-consolidated Financial Results for the Year Ended March 31, 2009”


Table of Contents

June 29, 2009

To All Persons Concerned

 

Name of Company Listed:   Kyocera Corporation
Name of Representative:   Tetsuo Kuba, President and Director
 

(Code number: 6971, The First Section of the Tokyo Stock Exchange,

The First Section of the Osaka Securities Exchange)

Person for inquiry:  

Shoichi Aoki

Director, Managing Executive Officer

and General Manager of Corporate Financial & Accounting Group

(Tel: +81-75-604-3500)

Correction of “Consolidated and Non-consolidated Financial Results for the Year Ended March 31, 2009”

This is to advise you that we hereby correct the information contained in the “Consolidated and Non-consolidated Financial Results for the Year Ended March 31, 2009” released on April 27, 2009.

1. Reason for correction

Certain corrections have been made to the consolidated balance sheets and the consolidated statements of cash flows in order to conform to appropriate presentation.

2. Matters to be corrected

Corrections are indicated by underscore in the corresponding pages.

 

  1) Consolidated cash flows (page 2 in this report)

 

  2) Analysis of Financial Position (page 3 in this report)

 

  3) “Liabilities” in the consolidated balance sheets (page 5 in this report)

 

  4) “Cash flows from operating activities” and “Cash flows from financing activities” in the consolidated statements of cash flows (page 6 in this report)

 

-1-


Table of Contents

1) Consolidated cash flows on page 1 in the Form 6-K released on April 27, 2009

<Before correction>

 

     (Japanese yen)
     March 31,
     2008         2009

Cash flows from operating activities

   ¥ 196,935   million       ¥ 99,664 million

Cash flows from investing activities

     14,894   million         (201,957) million

Cash flows from financing activities

     (28,071)   million         (64,287) million

Cash and cash equivalents at end of year

   ¥ 447,586   million       ¥ 269,247 million

<After correction>

 

     (Japanese yen)
     March 31,
     2008         2009

Cash flows from operating activities

   ¥ 196,935   million       ¥ 97,794 million

Cash flows from investing activities

     14,894   million         (201,957) million

Cash flows from financing activities

     (28,071)   million         (62,417) million

Cash and cash equivalents at end of year

   ¥ 447,586   million       ¥ 269,247 million

 

-2-


Table of Contents

2) Analysis of Financial Position on page 15 in the Form 6-K released on April 27, 2009

<Before correction>

1. Consolidated Cash Flows

Cash and cash equivalents at March 31, 2009 decreased by ¥178,339 million to ¥269,247 million compared with those at March 31, 2008.

 

     (Yen in millions)  
     Years Ended March 31,  
     2008     2009  

Cash flows from operating activities

   196,935      99,664   

Cash flows from investing activities

   14,894      (201,957

Cash flows from financing activities

   (28,071   (64,287 ) 

Effect of exchange rate changes on cash and cash equivalents

   (18,380   (11,759

Net increase (decrease) in cash and cash equivalents

   165,378      (178,339

Cash and cash equivalents at beginning of year

   282,208      447,586   

Cash and cash equivalents at end of year

   447,586      269,247   

(1) Cash flows from operating activities

Net cash provided by operating activities in fiscal 2009 decreased by ¥97,271 million to ¥99,664 million from ¥196,935 million in fiscal 2008. This was due mainly to a decrease in net income.

(2) Cash flows from investing activities

Cash flow from investing activities turned from ¥14,894 million of cash inflows in fiscal 2008 to ¥201,957 million of cash outflows in fiscal 2009. This was due mainly to a decrease in withdrawal of certificate deposits and time deposits, and a decrease in proceeds from sales and maturities of securities.

(3) Cash flows from financing activities

Net cash used in financing activities in fiscal 2009 increased by ¥36,216 million to ¥64,287 million from ¥28,071 million in fiscal 2008. This was due mainly to purchases of treasury stock from November 28, 2008 to December 22, 2008.

2. Indexes of Consolidated Cash Flows

 

     Years Ended March 31,  
     2005     2006     2007     2008     2009  

Stockholders’ equity to total assets

   67.3   66.7   71.1   73.4   74.6

Market capitalization to total assets

   82.2   101.3   98.4   80.2   67.0

Interest bearing debts per operating cash flows (years)

   1.0      0.8      0.2      0.1      0.6   

Operating cash flows per interest paid (ratio)

   62.4      88.5      93.4      161.8      153.8   

Interest bearing debts represent all debts with interest expense included in consolidated balance sheets.

 

-3-


Table of Contents

<After correction>

1. Consolidated Cash Flows

Cash and cash equivalents at March 31, 2009 decreased by ¥178,339 million to ¥269,247 million compared with those at March 31, 2008.

 

     (Yen in millions)  
     Years Ended March 31,  
     2008     2009  

Cash flows from operating activities

   196,935      97,794   

Cash flows from investing activities

   14,894      (201,957

Cash flows from financing activities

   (28,071   (62,417 ) 

Effect of exchange rate changes on cash and cash equivalents

   (18,380   (11,759

Net increase (decrease) in cash and cash equivalents

   165,378      (178,339

Cash and cash equivalents at beginning of year

   282,208      447,586   

Cash and cash equivalents at end of year

   447,586      269,247   

(1) Cash flows from operating activities

Net cash provided by operating activities in fiscal 2009 decreased by ¥99,141 million to ¥97,794 million from ¥196,935 million in fiscal 2008. This was due mainly to a decrease in net income.

(2) Cash flows from investing activities

Cash flow from investing activities turned from ¥14,894 million of cash inflows in fiscal 2008 to ¥201,957 million of cash outflows in fiscal 2009. This was due mainly to a decrease in withdrawal of certificate deposits and time deposits, and a decrease in proceeds from sales and maturities of securities.

(3) Cash flows from financing activities

Net cash used in financing activities in fiscal 2009 increased by ¥34,346 million to ¥62,417 million from ¥28,071 million in fiscal 2008. This was due mainly to purchases of treasury stock from November 28, 2008 to December 22, 2008.

2. Indexes of Consolidated Cash Flows

 

      Years Ended March 31,  
     2005     2006     2007     2008     2009  

Stockholders’ equity to total assets

   67.3   66.7   71.1   73.4   74.6

Market capitalization to total assets

   82.2   101.3   98.4   80.2   67.0

Interest bearing debts per operating cash flows (years)

   1.0      0.8      0.2      0.1      0.6   

Operating cash flows per interest paid (ratio)

   62.4      88.5      93.4      161.8      150.9   

Interest bearing debts represent all debts with interest expense included in consolidated balance sheets.

 

-4-


Table of Contents

3) “Liabilities” in the consolidated balance sheets on page 22 in the Form 6-K released on April 27, 2009

<Before correction>

 

     (Yen in millions)  
     March 31,    Increase
(Decrease)
 
     2008    2009   
     Amount    %    Amount    %   

Current liabilities :

              

Short-term borrowings

   ¥ 7,279       ¥ 11,000       ¥ 3,721   

Current portion of long-term debt

     3,432         5,523         2,091   

Trade notes and accounts payable

     95,390         62,579         (32,811

Other notes and accounts payable

     66,757         43,452         (23,305

Accrued payroll and bonus

     43,207         41,756         (1,451

Accrued income taxes

     27,118         7,430         (19,688

Other accrued liabilities

     32,815         26,967         (5,848

Other current liabilities

     25,684         39,254         13,570   
                                

Total current liabilities

     301,682    15.3      237,961    13.4      (63,721
                                

Non-current liabilities :

              

Long-term debt

     8,298         7,189         (1,109 ) 

Lease obligations

     2,088         22,964         20,876   

Accrued pension and severance liabilities

     15,041         34,567         19,526   

Deferred income taxes

     118,016         71,539         (46,477

Other non-current liabilities

     15,454         16,494         1,040   
                                

Total non-current liabilities

     158,897    8.0      152,753    8.6      (6,144
                                

Total liabilities

     460,579    23.3      390,714    22.0      (69,865
                                

<After correction>

 

     (Yen in millions)  
     March 31,    Increase
(Decrease)
 
     2008    2009   
     Amount    %    Amount    %   

Current liabilities :

              

Short-term borrowings

   ¥ 7,279       ¥ 11,000       ¥ 3,721   

Current portion of long-term debt

     3,432         13,865         10,433   

Trade notes and accounts payable

     95,390         62,579         (32,811

Other notes and accounts payable

     66,757         43,452         (23,305

Accrued payroll and bonus

     43,207         41,756         (1,451

Accrued income taxes

     27,118         7,430         (19,688

Other accrued liabilities

     32,815         26,967         (5,848

Other current liabilities

     25,684         30,912         5,228   
                                

Total current liabilities

     301,682    15.3      237,961    13.4      (63,721
                                

Non-current liabilities :

              

Long-term debt

     8,298         28,538         20,240   

Accrued pension and severance liabilities

     15,041         34,567         19,526   

Deferred income taxes

     118,016         71,539         (46,477

Other non-current liabilities

     17,542         18,109         567   
                                

Total non-current liabilities

     158,897    8.0      152,753    8.6      (6,144
                                

Total liabilities

     460,579    23.3      390,714    22.0      (69,865
                                

 

-5-


Table of Contents
4) “Cash flows from operating activities” and “Cash flows from financing activities” in the consolidated statements of cash flows on page 26 in the Form 6-K released on April 27, 2009

<Before correction>

 

     (Yen in millions)  
     Years ended March 31,  
     2008     2009  

Cash flows from operating activities :

    

Net income

   ¥ 107,244      ¥ 29,506   

Adjustments to reconcile net income to net cash provided by operating activities :

    

Depreciation and amortization

     87,045        97,577   

Write-down of inventories

     5,141        8,719   

Minority interests

     7,363        3,697   

Equity in earnings of affiliates and unconsolidated subsidiaries

     (6,091     (6,460

Losses (gains) on sales of property, plant and equipment, and intangible assets, net

     1,474        (8,314

Losses on sale of securities, net

     622        2,840   

Losses on impairments of securities

     248        7,141   

Decrease in receivables

     13,732        75,866   

(Increase) decrease in inventories

     (9,766     643   

Increase (decrease) in notes and accounts payable

     5,177        (77,648

Decrease in accrued income taxes

     (8,817     (21,024

Increase (decrease) in other current liabilities

     6,010        (12,404

Other, net

     (12,447     (475 ) 
                

Net cash provided by operating activities

     196,935        99,664   
                

Cash flows from financing activities :

    

Increase (decrease) in short-term debt

     (7,202     2,536   

Payments of long-term debt

     (6,647     (3,600 ) 

Dividends paid

     (24,566     (24,248

Purchase of treasury stock

     (211     (38,219

Reissuance of treasury stock

     7,031        3,045   

Other, net

     3,524        (3,801 ) 
                

Net cash used in financing activities

     (28,071     (64,287 ) 
                

 

-6-


Table of Contents

<After correction>

 

     (Yen in millions)  
     Years ended March 31,  
     2008     2009  

Cash flows from operating activities :

    

Net income

   ¥ 107,244      ¥ 29,506   

Adjustments to reconcile net income to net cash provided by operating activities :

    

Depreciation and amortization

     87,045        97,577   

Write-down of inventories

     5,141        8,719   

Minority interests

     7,363        3,697   

Equity in earnings of affiliates and unconsolidated subsidiaries

     (6,091     (6,460

Losses (gains) on sales of property, plant and equipment, and intangible assets, net

     1,474        (8,314

Losses on sale of securities, net

     622        2,840   

Losses on impairments of securities

     248        7,141   

Decrease in receivables

     13,732        75,866   

(Increase) decrease in inventories

     (9,766     643   

Increase (decrease) in notes and accounts payable

     5,177        (77,648

Decrease in accrued income taxes

     (8,817     (21,024

Increase (decrease) in other current liabilities

     6,010        (12,404

Other, net

     (12,447     (2,345 ) 
                

Net cash provided by operating activities

     196,935        97,794   
                

Cash flows from financing activities :

    

Increase (decrease) in short-term debt

     (7,202     2,536   

Payments of long-term debt

     (6,647     (5,588 ) 

Dividends paid

     (24,566     (24,248

Purchase of treasury stock

     (211     (38,219

Reissuance of treasury stock

     7,031        3,045   

Other, net

     3,524        57   
                

Net cash used in financing activities

     (28,071     (62,417 ) 
                

 

-7-

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