JVC Kenwood Corporation announced the final results of their voluntary early retirement solicitation first announced late last year. This solicitation was offered as part of a comprehensive effort to turn around the company’s flagging fortunes and included many steps to cut overhead and improve profitability – such as this effort to cut employment by incentivizing employees to leave the company.
Asian Connection
Japanese Electronics Manufacturers Ready to Agree to Raise Worker Pay
Six major Japanese electronics manufacturers are prepared to agree to raise employee pay when they meet with union representatives at the upcoming spring labor-management wage talks, according to a report in the Japan Times. Yet to be worked out is the exact amount of the increase – the first such increase for workers since 2008.
See why manufacturers are open to an increase now & how much the increase is likely to be… [Read more…] about Japanese Electronics Manufacturers Ready to Agree to Raise Worker Pay
Bain Capital Seeks to Restructure D&M Holdings Buyout Financing – It Could be Tough
Reuters reported this week that Bain Capital, the private equity company that virtually became a household name when CEO Mitt Romney ran for president against Barack Obama, is seeking to refinance the buyout financing it used to acquire D&M Holdings, Inc., also known as the D+M Group. It’s not going to be easy.
See what Bain Capital is up against in their goal of restructuring their D&M buyout debt… [Read more…] about Bain Capital Seeks to Restructure D&M Holdings Buyout Financing – It Could be Tough
Sony Cuts Get Deeper – A Third of U.S. Staff to be Cut; 20 Sony Stores Will Close
Although not a surprise, Sony Electronics in San Diego began releasing details of a substantial cutback in U.S. facilities and personnel. The company says it will cut 33% of its U.S. staff – about 1,000 employees. Also, the company announced a major retreat from retail as it will close 20 of its 31 total Sony Store locations.
See more on this significant Sony restructuring… [Read more…] about Sony Cuts Get Deeper – A Third of U.S. Staff to be Cut; 20 Sony Stores Will Close
Best Buy Licenses Sharp Brand Name for Smaller, Cheaper TVs Sourced from OEM Suppliers
In a report out of Japan last week, the Nikkei says that Sharp Corp. has reached a deal with Best Buy that will allow the retailer to license the Sharp brand name to be used on TVs made by OEM manufacturers for smaller and less expensive TVs. Sharp will continue to retain the brand for larger-sized sets (i.e. >50-inches), while Best Buy will have their OEM suppliers make Sharp-branded sets in smaller sizes.
Then move could be risky, potentially causing a conflict between the lower quality smaller sets and the higher quality larger sets…each bearing the Sharp brand.
See more on this move designed to bring in a royalty stream with no cost of inventory… [Read more…] about Best Buy Licenses Sharp Brand Name for Smaller, Cheaper TVs Sourced from OEM Suppliers
Yamaha Announces Financial Results Through Fiscal Third Quarter – It’s All Good
Yamaha Corp., likely heaving a sigh of relief, announced their financial results for the 9-month period through the fiscal third quarter (April 1, 2013 – December 31, 2013) with almost all good news. Showing significant sales and profit gains, the musical instrument and electronics manufacturer benefited from positive currency exchange rates…and lower overhead due to previous cost-cutting efforts.
See Yamaha’s results below – results good enough for the company to raise its dividend… [Read more…] about Yamaha Announces Financial Results Through Fiscal Third Quarter – It’s All Good
Sony, Finally Making Its Move, Puts the Computer Biz Up for Sale; TV Biz is Next Target for Shake-Up
The Nikkei reported this week that Sony Corp. has finally taken a bold step to reorganize its business by putting its VAIO computer division up for sale. According to the report, the company is in negotiation to offload the division to Japan Industrial Partners (JIP), a Japanese investment company.
See why this move makes sense…and why their TV division is the next target for a shake-up… [Read more…] about Sony, Finally Making Its Move, Puts the Computer Biz Up for Sale; TV Biz is Next Target for Shake-Up
With Huge Increase in Fiscal YTD Net Loss – JVC Kenwood Moves to Cut Staff & Buy a Company
JVC Kenwood Corporation released their year-to-date results for the first nine months (April 1, 2013 – December 31, 2013) of the current fiscal year at the end of last week. The results clearly portrayed a company in a struggle to turn their flagging business around. Although 9-month sales showed a 2.6% increase to ¥230.3 billion ($2.3 billion), up from ¥224.5 billion ($2.2 billion) last year…the company also booked a net loss that also increased more than four-fold – from ¥1.4 billion ($13.8 million) last year to ¥5.7 billion ($55.7 million) now.
See more on both JVC Kenwood’s results…and their moves to rectify the situation… [Read more…] about With Huge Increase in Fiscal YTD Net Loss – JVC Kenwood Moves to Cut Staff & Buy a Company
Forget Wearables! Japan Invents UnWearables – A Bra That Only Pops Open for True Love
One of the hot topics at the Consumer Electronics Show in Las Vegas earlier this month was “wearables” – technology that you wear somewhere on your body. Whether Google Glass on your head, or a FitBit wrist band, the magic happens when you put it on.
Now out of Japan, we learn of a new technology where the magic happens…when you take it off! Developed by a lingerie company that apparently employs hot-blooded engineers to create cool technology – the True Love Tester is a bra with a latch that will only open if the lady is truly in love.
Is this the Next Big Thing?…You’ve got to see this!… [Read more…] about Forget Wearables! Japan Invents UnWearables – A Bra That Only Pops Open for True Love
Taiwan’s Foxconn Looks to Build Factories in the U.S. – Six States Compete for Selection
Foxconn Technology Group, a Taiwanese company with manufacturing plants in China, and the world’s largest manufacturer of electronics – is looking to build one or more factories here in the U.S. The company, mostly known as the primary manufacturer of Apple’s popular iPhone, is in negotiations with Arizona and Colorado, according to a report by Bloomberg. But four other states have thrown their hats into the ring as well.