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Japan-Update

Kyocera profit seen slumping 18% for fiscal 2016

Slowing smartphone market pinches electronics maker's sales

Kyocera's solar energy business will likely return to profitability in fiscal 2016.

OSAKA -- Kyoto-based Kyocera is expected to see group pretax profit fall 18% to 120 billion yen ($1.06 billion) for the fiscal year ending March, owing to cooling smartphone demand and a strong yen.

That figure would undershoot the forecasted 11% slide to 130 billion yen in group pretax profit on an American accounting basis.

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