JVCKENWOOD and Alps Alpine announced their full year results for the year April 1, 2024-March 31, 2025. Both companies forecast lower sales for the coming year due to tariffs.
JVCKENWOOD said its aftermarket business recovered after the first quarter (April – June, 2024), resulting in overall growth for its aftermarket business. In the Mobility & Telematics sector, which includes JVC and KENWOOD, operating income rose due to increased OEM business “and recovered production in the Aftermarket Business.”
Mobility & Telematics saw a slight increase in sales for the year to $1.4 billion, up from $1.37 billion a year ago. Operating income rose to $33.7 million, up from $26.8 million.
Total corporate revenue rose to $2.5 billion, from $2.47 billion a year ago. Operating income increased to $174 million, up from $135.5 million, and profits rose to $139.6 million, up from $89.4 million.
Looking to the coming year, JVCKENWOOD said that while it is “implementing price increases on products and reducing the sale of products made in China,” sales and operating income for the coming year “are expected to decrease by 13.0 billion yen [$89 million] and 5.0 billion yen [$34 million], respectively, due to the negative impact of U.S. tariff measures.”
For Alps Alpine, the Module & System Segment under which Alpine falls, reported its operating income swung to a positive $38.5 million compared to an operating loss a year ago of $7.6 million. Net sales for the segment were lower at approximately $37 billion compared to $38 billion a year ago.
Alps Alpine said sales declined “due to sluggish sales of new vehicles,” while profits increased due to “cost structure reforms” (cost cutting).
Total corporate Alps Alpine profits swung to a positive $260 million (37.8 billion yen) compared to a loss of $204 million the year prior. Net sales increased to $6.8 billion compared to $6.6 billion a year ago and operating income increased to $234.5 million, compared to $135.5 million a year ago.
For the coming year, Alps Alpine expects its business to remain steady but to achieve lower results due to tariffs. It anticipates that tariffs will lead to lower consumption of products, mainly in automobiles.
“Net sales for the segment were lower at approximately $37 billion compared to $38 billion a year ago.”
I guess, it must be 3.7 billion and not 37 billion?