JVCKENWOOD and Alps Alpine reported sales and profits for their financial years, both ending March 31.
JVCKENWOOD reported a decline in US aftermarket sales. Total JVCKENWOOD Mobility & Telematics sector sales were $1.27 billion (199,435 million yen) up from $1.26 billion the year earlier. Core operating income was $25 million, down from $28 million a year ago.
JVCKENWOOD’s OEM automotive business increased over last year due to brisk sales at ASK Industries, JVCKENWOOD’s subsidiary in Europe.
Total JVCKENWOOD corporate sales, which includes its Communications and Safety & Security sectors, were $2.3 billion for the year, up from $2.2 billion a year ago, with strong sales in the Communications sector. Core operating income was $126 million, up from $101 million. Profits fell to $83 million, from $104 million a year ago.
The company is forecasting flat sales of $2.3 billion for the coming year and profits of $80 million.
Alps Alpine said its Systems business (which includes Alpine) was profitable this past year. But the Modules & Systems segment is expected to see decreased sales in the coming year “due to the discontinuation of some infotainment products, but will recover with other products such as modules and displays, resulting in an overall increase.”
Sales for the Modules & Systems segment were $3.6 billion for the year, up from $3.1 billion a year ago. The segment narrowed its operating loss to $7.1 million, compared to a loss of $42 million a year ago. The company cited higher costs including “soaring labor costs,” and “increased developments costs.”
Total Alps Alpine corporate sales including all segments (Component and Sensor & Communication) were $6.2 billion, up from $6 billion a year ago. Profits swung to a loss of $191 million compared to a gain of $73 million a year ago.
