JVCKenwood, AlpsAlpine First Half Sales

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AlpsAlpine JVCKENWOOD

JVCKenwood and AlpsAlpine  saw improvement in their total first half results (which ended September 30, 2022).

They both said an increase in car production July through September helped boost sales.

JVCKenwood said the costs of chips also fell and car audio aftermarket sales in Japan and abroad were strong.

JVCKenwood said growth in the last three months was “due to a significant recovery of OEM production and sales as a result of the lifting of the Shanghai lockdown, as well as the continued strong performance of the Aftermarket and Telematics Service Business.”

JVCKenwood said sales during the first half for its M&T sector, which includes car audio, hit $684 million compared to $512 million a year ago. Operating income was $15 million compared to a loss of $10 million a year ago.

Sales for the first half overall for JVCKenwood, including all divisions, rose to $1.12 billion (158.1 billion yen) compared to $886 million a year ago.  Operating income hit $42 million for the first half, compared to a loss of $5.7 million a year ago.  Profit swung to a gain of $26.4 million compared to a loss of $2.1 million a year ago.

AlpsAlpine saw less stellar results in its Module System Segment, which includes Alpine infotainment. While its net sales for the first half  rose almost 30 percent to $159 million over last year, the segment saw an operating loss of $37 million (which was narrower than the loss a year ago of $52 million).

Still operating income rose for the full AlpsAlpine company, including all divisions, such as components, sensors and logistics.

Sales for the entire AlpsAlpine reached $3.2 billion compared to $2.6 billion a year ago.  Operating income overall was $142 million compared to $75 million a year ago. Net income soared to $124 million compared to $15.5 million a year ago.

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