According to reports, Kyocera is accelerating its expansion and plans to achieve group sales of 2 trillion yen ($18.37 billion) within a few years.

The report pointed out that Kyocera will invest 170 billion yen in factories and equipment between fiscal 2021 and March 2022, and spend 90 billion yen on research and development to meet the strong demand and the development of new businesses.

Kyocera President Hideo Tanimoto said at a recent press conference that during the period from January to March, its overall income almost returned to the pre-pandemic level.

The company expects that by fiscal 2021, consolidated operating profit will reach 117 billion yen, an increase of 66% over the previous year, and sales will reach a record 1.73 trillion yen. Tanimoto said that the company's goal is to achieve a sales target of 2 trillion yen within two to three years.

In addition, Tanimoto also said that due to the shortage, the company will continue to produce products at full capacity for a period of time and will continue until the end of the current business year.