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Kyocera 6-K 2010

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 of

the Securities Exchange Act of 1934

For the month of May 2010

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):    


Table of Contents

SIGNATURE

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 : May 28, 2010


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, 2010”


Table of Contents

May 28, 2010

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, 2010”

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, 2010” released on April 27, 2010.

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

4) Consolidated statements of cash flows (page 7 in this report)

 

– 1 –


Table of Contents

1) Consolidated cash flows on page 1 in the Form 6-K released on April 27, 2010

<Before correction>

 

     Operating activities    Investing activities     Financing activities     Cash and cash equivalents
at  end of year
     Million yen    Million yen     Million yen     Million yen

Fiscal 2010

   137,583    (29,051 )    (38,047   333,838

Fiscal 2009

   97,794    (201,444   (62,930   269,247

<After correction>

 

     Operating activities    Investing activities     Financing activities     Cash and cash equivalents
at  end of year
     Million yen    Million yen     Million yen     Million yen

Fiscal 2010

   137,583    (49,318 )    (38,047   313,126

Fiscal 2009

   97,794    (201,444   (62,930   269,247

 

– 2 –


Table of Contents

2) Analysis of Financial Position on page 11 in the Form 6-K released on April 27, 2010

<Before correction>

1. Consolidated Cash Flows

 

     Years ended March 31,  
     2009     2010  
     (Yen in millions)  

Cash flows from operating activities

   ¥ 97,794      ¥ 137,583   

Cash flows from investing activities

     (201,444     (29,051 ) 

Cash flows from financing activities

     (62,930     (38,047

Effect of exchange rate changes on cash and cash equivalents

     (11,759     (5,894 ) 

Net increase (decrease) in cash and cash equivalents

     (178,339     64,591   

Cash and cash equivalents at beginning of year

     447,586        269,247   

Cash and cash equivalents at end of year

   ¥ 269,247      ¥ 333,838   

(1) Cash flows from operating activities

Net cash provided by operating activities in the year ended March 31, 2010 increased by ¥39,789 million to ¥137,583 million from ¥97,794 million in the year ended March 31, 2009. This was due mainly to an increase in net income.

(2) Cash flows from investing activities

Net cash used in investing activities in the year ended March 31, 2010 decreased by ¥172,393 million to ¥29,051 million from ¥201,444 million in the year ended March 31, 2009. This was due mainly to an increase in withdrawals of certificate deposits and time deposits, and a decrease in payments for acquisitions of businesses.

(3) Cash flows from financing activities

Net cash used in financing activities in the year ended March 31, 2010 decreased by ¥24,883 million to ¥38,047 million from ¥62,930 million in the year ended March 31, 2009. This was due mainly to a significant decrease in payments for acquisition of treasury stock.

Cash and cash equivalents at March 31, 2010 increased by ¥64,591 million to ¥333,838 million compared with those at March 31, 2009.

 

– 3 –


Table of Contents

<After correction>

1. Consolidated Cash Flows

 

     Years ended March 31,  
     2009     2010  
     (Yen in millions)  

Cash flows from operating activities

   ¥ 97,794      ¥ 137,583   

Cash flows from investing activities

     (201,444     (49,318 ) 

Cash flows from financing activities

     (62,930     (38,047

Effect of exchange rate changes on cash and cash equivalents

     (11,759     (6,339 ) 

Net increase (decrease) in cash and cash equivalents

     (178,339     43,879   

Cash and cash equivalents at beginning of year

     447,586        269,247   

Cash and cash equivalents at end of year

   ¥ 269,247      ¥ 313,126   

(1) Cash flows from operating activities

Net cash provided by operating activities in the year ended March 31, 2010 increased by ¥39,789 million to ¥137,583 million from ¥97,794 million in the year ended March 31, 2009. This was due mainly to an increase in net income.

(2) Cash flows from investing activities

Net cash used in investing activities in the year ended March 31, 2010 decreased by ¥152,126 million to ¥49,318 million from ¥201,444 million in the year ended March 31, 2009. This was due mainly to an increase in withdrawals of certificate deposits and time deposits, and a decrease in payments for acquisitions of businesses.

(3) Cash flows from financing activities

Net cash used in financing activities in the year ended March 31, 2010 decreased by ¥24,883 million to ¥38,047 million from ¥62,930 million in the year ended March 31, 2009. This was due mainly to a significant decrease in payments for acquisition of treasury stock.

Cash and cash equivalents at March 31, 2010 increased by ¥43,879 million to ¥313,126 million compared with those at March 31, 2009.

 

– 4 –


Table of Contents

3) “Assets” in the consolidated balance sheets on page 16 in the Form 6-K released on April 27, 2010

<Before correction>

CONSOLIDATED BALANCE SHEETS

 

     March 31,    Increase
(Decrease)
 
     2009    2010   
     Amount     %    Amount     %   
     (Yen in millions)  

Current assets:

            

Cash and cash equivalents

   ¥ 269,247         ¥ 333,838         ¥ 64,591   

Investments in debt securities, current

     10,093           11,644           1,551   

Other short-term investments

     192,050           179,701           (12,349 ) 

Trade notes receivables

     13,750           16,421           2,671   

Trade accounts receivables

     158,754           190,903           32,149   

Less allowances for doubtful accounts and sales returns

     (4,669        (3,971        698   

Inventories

     199,641           177,361           (22,280

Advance payments

     29,879           52,316           22,437   

Deferred income taxes

     35,187           40,872           5,685   

Other current assets

     48,384           35,370           (13,014
                                  

Total current assets

     952,316      53.7      1,034,455      56.0      82,139   
                                  

Non-current assets:

            

Investments and advances:

            

Investments in and advances to affiliates and unconsolidated subsidiaries

     19,376           1,261           (18,115

Investments in debt and equity securities, long term

     325,545           370,124           44,579   

Other long-term investments

     26,304           10,534           (15,770
                                  

Total investments and advances

     371,225      20.9      381,919      20.6      10,694   
                                  

Property, plant and equipment:

            

Land

     57,077           56,870           (207

Buildings

     288,460           290,516           2,056   

Machinery and equipment

     707,399           689,608           (17,791

Construction in progress

     6,397           8,842           2,445   

Less accumulated depreciation

     (793,279        (805,737        (12,458
                                  

Total property, plant and equipment

     266,054      15.0      240,099      13.0      (25,955
                                  

Goodwill

     63,226      3.6      67,602      3.6      4,376   

Intangible assets

     60,077      3.4      49,593      2.7      (10,484

Other assets

     60,904      3.4      75,049      4.1      14,145   
                                  

Total non-current assets

     821,486      46.3      814,262      44.0      (7,224
                                  

Total assets

   ¥ 1,773,802      100.0    ¥ 1,848,717      100.0    ¥ 74,915   
                                  

 

– 5 –


Table of Contents

<After correction>

CONSOLIDATED BALANCE SHEETS

 

     March 31,    Increase
(Decrease)
 
     2009    2010   
     Amount     %    Amount     %   
     (Yen in millions)  

Current assets:

            

Cash and cash equivalents

   ¥ 269,247         ¥ 313,126         ¥ 43,879   

Investments in debt securities, current

     10,093           11,644           1,551   

Other short-term investments

     192,050           200,413           8,363   

Trade notes receivables

     13,750           16,421           2,671   

Trade accounts receivables

     158,754           190,903           32,149   

Less allowances for doubtful accounts and sales returns

     (4,669        (3,971        698   

Inventories

     199,641           177,361           (22,280

Advance payments

     29,879           52,316           22,437   

Deferred income taxes

     35,187           40,872           5,685   

Other current assets

     48,384           35,370           (13,014
                                  

Total current assets

     952,316      53.7      1,034,455      56.0      82,139   
                                  

Non-current assets:

            

Investments and advances:

            

Investments in and advances to affiliates and unconsolidated subsidiaries

     19,376           1,261           (18,115

Investments in debt and equity securities, long term

     325,545           370,124           44,579   

Other long-term investments

     26,304           10,534           (15,770
                                  

Total investments and advances

     371,225      20.9      381,919      20.6      10,694   
                                  

Property, plant and equipment:

            

Land

     57,077           56,870           (207

Buildings

     288,460           290,516           2,056   

Machinery and equipment

     707,399           689,608           (17,791

Construction in progress

     6,397           8,842           2,445   

Less accumulated depreciation

     (793,279        (805,737        (12,458
                                  

Total property, plant and equipment

     266,054      15.0      240,099      13.0      (25,955
                                  

Goodwill

     63,226      3.6      67,602      3.6      4,376   

Intangible assets

     60,077      3.4      49,593      2.7      (10,484

Other assets

     60,904      3.4      75,049      4.1      14,145   
                                  

Total non-current assets

     821,486      46.3      814,262      44.0      (7,224
                                  

Total assets

   ¥ 1,773,802      100.0    ¥ 1,848,717      100.0    ¥ 74,915   
                                  

 

– 6 –


Table of Contents

4) The consolidated statements of cash flows on page 20 in the Form 6-K released on April 27, 2010

<Before correction>

CONSOLIDATED STATEMENTS OF CASH FLOWS

 

     Years ended March 31,  
     2009     2010  
     (Yen in millions)  

Cash flows from operating activities:

    

Net income

   ¥ 33,203      ¥ 45,433   

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

    

Depreciation and amortization

     97,577        72,829   

Provision for doubtful accounts and loss on bad debts

     671        9,389   

Write-down of inventories

     8,719        9,207   

Equity in (earnings) losses of affiliates and unconsolidated subsidiaries

     (6,460     18,297   

Losses on sale of securities, net

     2,840        93   

Losses on impairment of securities

     7,141        217   

Gains on sales of property, plant and equipment, and intangible assets, net

     (8,314     (1,319

(Increase) Decrease in receivables

     75,866        (38,823

Decrease in inventories

     643        10,416   

Increase in advance payment

     (8,811     (22,734

Increase (Decrease) in notes and accounts payable

     (77,648     40,400   

Increase (Decrease) in accrued income taxes

     (21,024     6,152   

Other, net

     (6,609     (11,974
                

Net cash provided by operating activities

     97,794        137,583   
                

Cash flows from investing activities:

    

Payments for purchases of securities

     (75,985     (91,661

Proceeds from sales and maturities of securities

     55,941        60,144   

Acquisitions of businesses, net of cash acquired

     (47,512     (4,715

Payments for purchases of property, plant and equipment, and intangible assets

     (85,191     (40,367

Proceeds from sales of property, plant and equipment, and intangible assets

     12,893        3,065   

Acquisition of certificate of deposits and time deposits

     (290,536     (306,124 ) 

Withdrawal of certificate of deposits and time deposits

     230,645        347,877   

Other, net

     (1,699     2,730   
                

Net cash used in investing activities

     (201,444     (29,051 ) 
                

Cash flows from financing activities:

    

Increase (Decrease) in short-term debt, net

     2,536        (6,510

Issuance of long-term debt

     1,869        14,707   

Payments of long-term debt

     (5,588     (20,236

Dividends paid

     (24,248     (23,537

Purchase of treasury stock

     (38,219     (59

Reissuance of treasury stock

     3,045        4   

Other, net

     (2,325     (2,416
                

Net cash used in financing activities

     (62,930     (38,047
                

Effect of exchange rate changes on cash and cash equivalents

     (11,759     (5,894 ) 
                

Net increase (decrease) in cash and cash equivalents

     (178,339     64,591   

Cash and cash equivalents at beginning of year

     447,586        269,247   
                

Cash and cash equivalents at end of year

   ¥ 269,247      ¥ 333,838   
                

 

– 7 –


Table of Contents

<After correction>

CONSOLIDATED STATEMENTS OF CASH FLOWS

 

     Years ended March 31,  
     2009     2010  
     (Yen in millions)  

Cash flows from operating activities:

    

Net income

   ¥ 33,203      ¥ 45,433   

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

    

Depreciation and amortization

     97,577        72,829   

Provision for doubtful accounts and loss on bad debts

     671        9,389   

Write-down of inventories

     8,719        9,207   

Equity in (earnings) losses of affiliates and unconsolidated subsidiaries

     (6,460     18,297   

Losses on sale of securities, net

     2,840        93   

Losses on impairment of securities

     7,141        217   

Gains on sales of property, plant and equipment, and intangible assets, net

     (8,314     (1,319

(Increase) Decrease in receivables

     75,866        (38,823

Decrease in inventories

     643        10,416   

Increase in advance payment

     (8,811     (22,734

Increase (Decrease) in notes and accounts payable

     (77,648     40,400   

Increase (Decrease) in accrued income taxes

     (21,024     6,152   

Other, net

     (6,609     (11,974
                

Net cash provided by operating activities

     97,794        137,583   
                

Cash flows from investing activities:

    

Payments for purchases of securities

     (75,985     (91,661

Proceeds from sales and maturities of securities

     55,941        60,144   

Acquisitions of businesses, net of cash acquired

     (47,512     (4,715

Payments for purchases of property, plant and equipment, and intangible assets

     (85,191     (40,367

Proceeds from sales of property, plant and equipment, and intangible assets

     12,893        3,065   

Acquisition of certificate of deposits and time deposits

     (290,536     (356,472 ) 

Withdrawal of certificate of deposits and time deposits

     230,645        377,958   

Other, net

     (1,699     2,730   
                

Net cash used in investing activities

     (201,444     (49,318 ) 
                

Cash flows from financing activities:

    

Increase (Decrease) in short-term debt, net

     2,536        (6,510

Issuance of long-term debt

     1,869        14,707   

Payments of long-term debt

     (5,588     (20,236

Dividends paid

     (24,248     (23,537

Purchase of treasury stock

     (38,219     (59

Reissuance of treasury stock

     3,045        4   

Other, net

     (2,325     (2,416
                

Net cash used in financing activities

     (62,930     (38,047
                

Effect of exchange rate changes on cash and cash equivalents

     (11,759     (6,339 ) 
                

Net increase (decrease) in cash and cash equivalents

     (178,339     43,879   

Cash and cash equivalents at beginning of year

     447,586        269,247   
                

Cash and cash equivalents at end of year

   ¥ 269,247      ¥ 313,126   
                

 

– 8 –

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