Saying that there is “rising uncertainty” with regards to the country’s debt situation, Moody’s has cut Japan’s credit rating. Yet another indicator of fundamental problems in one of the world’s most powerful economies, Japan’s problems go well beyond its dramatically changing TECH industry.
Asian Connection
Having Dumped Everything Else, Pioneer Makes Plans to Dominate Car Electronics
About the AV biz? Hoping Onkyo Keeps the Pioneer Name…
In a revealing interview with the Nikkei in Tokyo, Pioneer Corp. President Susumu Kotani said that Pioneer – after spending several months selling off all of its divisions other than automotive – is considering resorting to acquisitions in order to build a dominant position within its chosen market. A radical shift after months of divestiture, he makes clear that the company is preparing to move to offense, in order to build a new – and expanded – future.
See more on the company’s plans – including just what areas Pioneer is considering entering… [Read more…] about Having Dumped Everything Else, Pioneer Makes Plans to Dominate Car Electronics
Despite Revenue Decline, JVC Kenwood Cuts Losses as Restructuring Takes Hold
JVC Kenwood Corp., the troubled consolidation of two struggling Japanese brands, seems to have turned a corner despite reporting fiscal Q2 and first half revenue declines and continuing losses. The company, which in January surprised many by announcing its decision to withdraw from the consumer electronics business to focus on B-to-B business, announced with pride that – although still showing a loss – the company has seen solid improvement in profits with dramatically reduced losses.
See more on this huge company in a big transition… [Read more…] about Despite Revenue Decline, JVC Kenwood Cuts Losses as Restructuring Takes Hold
Yamaha’s Fiscal First Half Results are Mixed
Yamaha Corporation released the results for its fiscal first semester or first half of the fiscal year 2015 (April 1, 2014 – September 30, 2014) with results generally positive, but mixed. Overall consolidated sales increased 4.4% to ¥206.4 billion ($1.9 billion) as compared to ¥197.7 billion ($1.8 billion) in the same period last year. But of some concern is the fact that only one of its four major business segments showed an increase in operating profits – and two of the four lost money during the period.
See more on Yamaha’s financial performance… [Read more…] about Yamaha’s Fiscal First Half Results are Mixed
You Knew It Was Dying, But LG Makes It Official – Plasma is Dead
Yesterday in South Korea, LG Electronics made formal what we all knew was coming – they are ending production of all plasma display panel products. Even though we knew it was coming, somehow…it still hurts. We’ve had many an engineer tell us the plasma was the most accurate picture available – many saying they own it themselves. Certainly, they are sure to be ruing this day.
See more on this dramatic – and somewhat sad – announcement from LG… [Read more…] about You Knew It Was Dying, But LG Makes It Official – Plasma is Dead
U.S. Smart Home Supplier Icontrol Launches Venture in Japan
Icontrol Networks, Inc. has partnered with Japan’s Tokyu Corp. to launch state-of-the-art smart-home solutions in Japan first, and then later into the greater Southeast Asia market. The deal provides for Tokyu’s cable television division, Its Communications, to offer Icontrol’s Touchstone solution throughout Asia to their cable customers.
See more on this major initiative to bring smart-home technology to Japan… [Read more…] about U.S. Smart Home Supplier Icontrol Launches Venture in Japan
Center of Planet Panasonic Since 1970, AV Headquarters to be Closed, Demolished & Sold
In what is surely a demonstration of a conclusive shift in its business strategy – not to mention a bit of heavy symbolism in hometown Osaka, Japan – Panasonic Corp. has announced its intentions to close, demolish and sell off the real estate of its existing AV headquarters building that served as the home of its TV and AV business since the 1970s. The center of the universe for tech-heavy Panasonic, many in Japan look to this development as a sign of the end of an era as this 160,000-sq.-meter (1.7 million-sq.-ft.) building was where the company’s TV business and digital electronics businesses were created and managed.
See more on this dramatic example of industrial change in Japan… [Read more…] about Center of Planet Panasonic Since 1970, AV Headquarters to be Closed, Demolished & Sold
Sharp Says They’ll Be First to Market with 8K TVs – Plans 2015 Start
Sharp Corporation has announced in Japan that it intends to be the first company in the world to bring 8K LCD TVs to market – and says it will begin making them in 2015. Sharp made the comments at CEATEC, a major trade show for the IT and CE industries taking place right now in Japan.
Are you ready for 8K?… [Read more…] about Sharp Says They’ll Be First to Market with 8K TVs – Plans 2015 Start
Funai Files $400 Million Claim Against Philips; But Management Infighting Engulfs Funai in Flames
In an unusually breathless and overstimulated report out of Japan, we learn that Funai Electric Co., Ltd. – a large, global OEM manufacturing company of mostly AV gear – has filed a $400 million damage claim in their battle with Philips over the loss of a deal with the European giant for its Woox audio business. Not only that, but the report from the Nikkei also revealed that – at the same time – Funai’s President and CEO of less than 9-months has abruptly resigned in a dispute with upper management on the future direction of the company.
See more on this news out of Japan that sounds more like a reality TV show than a business… [Read more…] about Funai Files $400 Million Claim Against Philips; But Management Infighting Engulfs Funai in Flames
Sharp to Close European Operations; Licenses Brand to UMC of Slovakia
3,000 Sharp European Employees to be Cut
Sharp Corp. said late last week that it has reached an agreement with Universal Media Corp. of Slovakia to license its brand and market Sharp branded products in Europe. As part of this strategy, Sharp will either sell or close its factory in Poland, cutting approximately 3,000 employees in total between their company-owned factory and European operations.