Alps Alpine and JVCKenwood saw declines in profits for the first three quarters of the Japanese fiscal year.
JVCKenwood saw total sales fall slightly while profits dropped by more than half for the period of April 1-December 31, 2019.
Total JVCKenwood sales fell to $2 billion (219,370 billion yen), down from $2.07 billion for the same period a year ago.
Operating income fell to $38 million, down from $58 million last year. Net profit fell to $11 million, down from $32 million for the period a year ago.
In the automotive sector specifically, JVCKenwood revenue fell to $1.05 billion, down from $1.17 billion a year ago. Operating income dropped to $18.9 million, down from $55 million a year ago for the sector.
Alps Alpine’s net sales fell by 7.6 percent and its operating income fell by 40 percent. Total sales were $5.8 billion compared to $5.9 billion for the same period a year ago.
Ordinary income was $232 million compared to $408 million a year ago. Net profit fell to $47.5 million, down from $247 million a year ago.
Alps Alpine said orders for its sensors were down due to a “softening of the automotive market.” For its Automotive Infotainment Segment, sales were up however navigation sales were down overall. The exception was navigation sales to car makers in Europe where sales were “strong.”
Specifically, in the Automotive Infotainment Segment, Alpine sales rose to $2.17 billion, up from $2.02 billion last year, while operating income fell to $74 million from $110 million last year.
Pessimistically Optimistic forecast. I hope you are right about 5 years.
how much longer can this go on? i’m bettng the biz, cars, and aftermarket will undergo massive changes with in the next five years.