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In Wake of Fiscal Year Loss, Pioneer Seeks Business Alliances…and Capital

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Pioneer_2012CES_2Pioneer Corp. is seeking to form a business and capital alliance with Japan’s NTT DoCoMo Inc. according to a story today in The Japan Times. The company will also try to enhance its ties with Mitsubishi Electric Corp. “in a bid to survive” in its main car electronics business with a stronger financial footing.

The announcement was made the same day that the company announced their Fiscal 2013 results in which sales came in at ¥451.8 billion ($4.4 billion), up 3.5% over ¥436.8 billion. But more importantly, the company announced a big loss of ¥19.6 billion ($191.6 million)…much worse than the profit of ¥3.7 billion last year.

See more on why Pioneer needs these new alliances… [Read more…] about In Wake of Fiscal Year Loss, Pioneer Seeks Business Alliances…and Capital

Huge Loss & Management Dismissals Induce Sharp Pain at Sharp Corp.

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Photo of Sharp booth at CESSharp Corp. announced this week the worst net loss in its long corporate history for the fiscal year that ended March 31, 2013. Booking a net loss of ¥545.35 billion ($5.4 billion), the company has aggressively moved to shake up the company management replacing both the President and Chairman in a rare (for a Japanese company) public rebuke of company leaders. And in what may be a signal to the market, the new President has no ties to the company’s TV business…and he’s talking tough.

See more on this worse-than-expected result… [Read more…] about Huge Loss & Management Dismissals Induce Sharp Pain at Sharp Corp.

Nortek Reports Uneven Q1 Results, But TECH Actually Contributes This Time

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Nortek LogoNortek, Inc. reported their financial results from the first quarter of fiscal 2013 late last week. The results were mixed as the company deals with a struggling economy and a difficult internal restructuring that is impacting costs now, with any resulting benefits to be realized still down the road. But for the first time in several quarters, the company’s Technology Solutions Segment (TECH) actually offered a positive contribution with growth in both sales and profits offsetting losses in other divisions. But TECH’s success was largely due to a recent acquisition in the security business.

See more on Nortek’s results… [Read more…] about Nortek Reports Uneven Q1 Results, But TECH Actually Contributes This Time

Banks Throw Sharp a $1.5 Billion Lifeline

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Arial photo of Sharp factoryTwo key banks in Japan announced yesterday that they will extend Sharp Corp. an additional line of credit of ¥150 billion ($1.5 billion) over and above all of their other financing. Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi UFJ originally had considered a ¥100 billion line, but ultimately decided to up the ante with each bank kicking in ¥75 billion – a real lifeline to the struggling electronics manufacturer.

See more on this surprise announcement out of Japan… [Read more…] about Banks Throw Sharp a $1.5 Billion Lifeline

Though Fiscal 2013 Results are Better Than Expected, Yamaha Replaces President

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Yamaha pianoLast week, Yamaha Corporation released its financial results for Fiscal Year 2013 (the period ending March 31, 2013) giving the stock market and financial analysts a pleasant surprise as final numbers handily beat both their February 6th revised forecast and last year’s results. Thanks to a strong fourth quarter, Yamaha hit sales for the year of ¥366.9 billion ($3.7 billion) or 2.9% more than last year’s ¥356.6 billion. Yamaha also reported increased operating income, ordinary income, and net income.

And yet, surprisingly, the company also announced it would replace its President and Representative Director at the upcoming directors meeting to be held on June 26, 2013. Why?

See more on Yamaha’s performance and the surprising reason they’ll replace their President… [Read more…] about Though Fiscal 2013 Results are Better Than Expected, Yamaha Replaces President

JVC Kenwood Financial Results Miss the Mark…Again

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JVC Kenwood logoAt the end of last week, JVC Kenwood Corporation released a summary of results for their fiscal year ending March 31, 2013. On the eve of this announcement, the company recast their forecasts for the year to reflect their actual results. In both cases, the news was not good as the company’s results failed to meet both their original…and revised forecasts.

See more on JVC Kenwood’s results…including our analysis of their overall trends… [Read more…] about JVC Kenwood Financial Results Miss the Mark…Again

Layoffs Hit Panasonic Lithium Ion Battery Plant

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Photo of Panasonic Lithium Ion batteryPanasonic Corp. has laid off 20% of their workforce – or 600 employees – in its lithium ion battery operations, according to a report by the Nikkei yesterday in Osaka, Japan. The move was made in an attempt to help turn the division profitable. The company has also decided to restructure their manufacturing processes as the layoffs alone won’t likely be enough to achieve profitability.

See more on this dramatic restructuring from the struggling Japanese giant… [Read more…] about Layoffs Hit Panasonic Lithium Ion Battery Plant

More Bad News Bruises Apple – Stock Hits Worst Level in a Year

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Photo of bruised appleThe AP is reporting that Apple, Inc. saw its stock price hit hard in trading today on Wall Street, dropping 23.44 points or 5.5%, to close at $402.80 per share – well below yesterday’s close of $426.24. During today’s session the stock traded as low as $398.11, setting a new 52-week low and triggering analysts to buzz about trouble in Cupertino. What happened? Another Apple supplier, Cirrus Logic, Inc., released a disappointing financial report that hinted that the real problem lays with Apple.

What’s the connection between Cirrus Logic and Apple? See below… [Read more…] about More Bad News Bruises Apple – Stock Hits Worst Level in a Year

Hon Hai’s Q1 Sales Drop More Than Expected, Hurt by Slipping Demand for iPhone

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Picture of Hon Hai facilityTaiwan’s Hon Hai Precision Industry Co. Ltd. reported today that sales for the first quarter had dropped by 19 percent from the same period last year. Hon Hai, better known by the name of a large division called Foxconn, is a key supplier to Apple, Inc. and analysts point to this as another indicator of Apple’s slipping dominance of the smartphone business.

See more on this unexpected result… [Read more…] about Hon Hai’s Q1 Sales Drop More Than Expected, Hurt by Slipping Demand for iPhone

Yamaha Launches New Medium-Term Plan; 1st Task? Explain Why Last One Failed

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Yamaha logoYamaha Corporation last week announced a new medium-term management plan titled Yamaha Management Plan 2016 (YMP2016) which sets forth management’s strategies for the time period of fiscal 2014-to-fiscal 2016. The new plan succeeds the previous Yamaha Management Plan 125 (YMP125) which was just completed March 31, 2013.

First task of the new plan? Explain why the previous plan failed… [Read more…] about Yamaha Launches New Medium-Term Plan; 1st Task? Explain Why Last One Failed