JVCKenwood reported higher profits on lower sales for the full financial year ending March 31, while Alps Alpine saw continued losses and a decline in sales during the same period.
JVCKenwood sales fell slightly to $2.5 billion (273.6 billion yen) from $2.7 billion the previous year, but profits increased to almost $20 million, compared to almost $9 million a year earlier. Operating profits rose to $45 million, up from $37 million.
For the Automotive Sector, sales fell to $1.3 billion, compared to $1.4 billion last year but core operating income rose to $34 million, up from $11 million last year.
Alps Alpine pointed to lower automotive sales and a slow recovery in Europe and parts of Japan for its lower sales and profits. Sales fell to $6.6 billion, compared to $7.4 billion a year ago and profit losses widened to minus $37 million compared to minus $35 million last year. Operating income fell to $120 million compared to $245 million a year ago.
In Alps Alpine Automotive Infotainment sector, sales fell over 21 percent to $2.2 billion with an operating loss of over $35 million compared to an operating income of $51 million the year prior.
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