JVC Kenwood Corp. released a summary of results for their fiscal year 2015, the year that ended March 31, 2015, and we continue to see positive profit results from their rather dramatic company-wide restructuring that had them abandoning many consumer categories and refocusing on more commercial enterprises. But we also see a continued and persistent slide in sales that shows no sign of slowing down.
Bloomberg Reporter Asks ‘Why is Sharp Still With Us?’
We’ve been reporting for a while now on the epic survival struggles of some of this industry’s biggest brand names in Japan…most recently Sharp Corp. Some of the changes we’re seeing now were unforeseeable even 24-36 months ago – Sony spinning off divisions, JVC Kenwood pulling out of the consumer business, Pioneer first shutting down A/V, then selling that division to Onkyo, Toshiba pulling out of TV biz, Panasonic dropping consumer business, and on and on…
Now a reporter for the respected Bloomberg View asks, “…why Sharp should still be in business?”
See more on this surprising declaration and criticism of the practices of Japan, Inc… [Read more…] about Bloomberg Reporter Asks ‘Why is Sharp Still With Us?’
Despite Scary Sales Slide, JVC Kenwood Posts Big Profit Gains
JVC Kenwood Corp. released their financial results for the first 9-months of the current fiscal year (ending March 31st) and the company points to a tremendous swing in profits as proof of the positive impact of their painful, multi-year business restructuring efforts. The company completely turned around a negative profit trend – booking an operating profit, an ordinary profit…and a ¥500 million ($4.2 million) improvement to a modest net loss.
See more on these results which occurred despite a continuing sales decline… [Read more…] about Despite Scary Sales Slide, JVC Kenwood Posts Big Profit Gains
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
Pioneer Pulls Out of AV
In yet another sign of dramatic changes afoot that will literally change the face of the TECH industry for years to come – news comes out of Japan that Pioneer Corp. is planning to exit the AV business by selling off its entire AV division. This news follows a similar decision made by JVC Kenwood earlier this year to pull out of consumer electronics to focus on more commercial business.
Pioneer is said to be in active negotiations with Funai Electric, a large OEM manufacturer who recently took over Philips video business, as well as other potential suitors.
Does this deal make sense? Or has the AV world gone crazy?… [Read more…] about Pioneer Pulls Out of AV
JVC Kenwood Takes Bold New Steps to Reconstruct Its Core DNA – Shaking Up Structure & Management
In a regulatory filing this month, JVC Kenwood Corp. said it will take dramatic and bold steps to literally change its very core – the operating structure of the company – such that it fundamentally changes the way the company is run. This changing-our-DNA move marks a deep expansion of its previously announced business-spectrum initiatives to move away from its weakening consumer electronics businesses into more commercial enterprises by ensuring that the way it manages itself is completely changed as well.
See more on this surprising move in which JVC Kenwood doubles down on “change”… [Read more…] about JVC Kenwood Takes Bold New Steps to Reconstruct Its Core DNA – Shaking Up Structure & Management
Aggressive Business Restructure Fails to Prevent JVC Kenwood’s Net Loss
JVC Kenwood Corporation released a snapshot of the financial results for its fiscal year that ended March 31, 2014 and – while overall group revenues were slightly better than expected – the profit picture is still quite troubled. Fiscal year total revenues came in at ¥316.343 billion ($3.1 billion)…but the company booked a net loss of ¥6.571 billion ($64.3 million).
See more of the company’s results which suggest benefits from their reorganization are still ahead… [Read more…] about Aggressive Business Restructure Fails to Prevent JVC Kenwood’s Net Loss
JVC Kenwood’s Early Retirement Solicitation Falls Short of Goal
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.
Did their program succeed? See the results below… [Read more…] about JVC Kenwood’s Early Retirement Solicitation Falls Short of Goal
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
JVC Kenwood Launches 1st Initiative in New, More Commercial Business Strategy
Just one day after we reported that JVC Kenwood was turning away from the Consumer Electronics business and choosing to instead pursue more commercial enterprises – the company announces its first major partnership in this new operating model. The company has partnered with Europe’s Airbus Defence and Space in a major new initiative to develop a public safety wireless broadband technology for the North American and European markets.