First Half Results at JVCKENWOOD, ALPS ALPINE

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Alps Alpine JVCKenwood Earnings

Recent earnings reports from JVCKENWOOD and ALPS ALPINE show a tough period for profits in their infotainment sectors.

In JVCKENWOOD’s infotainment sector (called Mobility & Telematics Services), the company widened its core operating loss for the first half (April to September 2021) to $12M from a loss of $3.2 million for the period a year ago. Revenue rose however to $632 million (71.9 billion yen) compared to $596 million for the year ago period.

In ALPS ALPINE’s Automotive Infotainment Segment, the operating loss widened to $46 million, compared to $34 million a year ago.  Sales fell slightly by 2.4 percent to $964 million.

ALPS ALPINE attributed some of the losses to shortages.  Its display business was “affected by sluggish sales due to a shortage of LCD.” It also cited ‘soaring material costs and logistics costs due to supply chain disruptions.’

Overall, however, when including other sectors, both ALPS ALPINE and JVCKENWOOD showed greatly improved results over a year ago.

Including its component business, total ALPS ALPINE sales swung to a profit.  It reported an increase in net sales to $3.2 billion, compared to $2.8 billion a year ago and a profit of $19 million, compared to a loss of $79 million a year ago. Operating income swung to a profit of $93 million compared to a loss of $31 million a year ago.

At JVCKENWOOD, total company sales (including public service radios and media) rose to $1.1 billion compared to $1 billion a year ago.  In terms of profits, the company narrowed its loss to $2.3 million, down from a loss of $38 million a year ago.  Operating income swung to a profit of $18 million compared to a loss of $30 million a year ago.

 

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