Pioneer's consolidated net sales and operating income declined during the period ended September 30, 2014, reflecting a drop-off in sales of consumer-market car navigation systems mainly from the shift in the market to lower-priced models, and lower sales of home AV products. For the three months ended September 30, 2014, Pioneer's consolidated net sales declined 3.5% year on year, to ¥122,594 million.

The company's operating income for the quarter declined 61.9% year on year, to ¥3,103 million, reflecting an increase in selling, general and administrative expenses and a deterioration of the cost of sales ratio, both resulted from factors including the completion of short-term restructuring measures implemented in fiscal 2014, as well as a decline in net sales.

A net loss of ¥345 million was recorded, compared with year-earlier net income of ¥5,125 million, reflecting the decline in operating income and the recording of a ¥2,669 million foreign exchange loss, despite the gain on sale of noncurrent assets.

Pioneer's car electronics sales declined 2.6% year on year, to ¥86,168 million. Car navigation system sales declined in Japan but OEM sales rose, from increases overseas including in Central and South America and in North America. Car audio product sales rose overall.

Pioneer's home electronics sales declined 14.2% year on year, to ¥25,550 million, on lower sales of home AV products and optical disc drive-related products.

On the positive side, Pioneer saw sales of their factory automation systems to rise by 22.9% year on year, to ¥10,876 million.

Pioneer's board also approved the plan to traansfer its DJ equipment business to PDJ Holdings, effective date of March 2, 2015.

Regarding the plan for a capital and business alliance with Onkyo, the companies plan to integrate their respective home AV, home telephone and headphone related businesses by July 2014. Pioneer will hold a 15.95% in the final company.

On September 12, 2014, Pioneer Corp. had announced that Onkyo and Pioneer's Home Entertainment (PHE) would be merged where Onkyo should be the surviving company. However, as a result of consultation and review between Pioneer and Onkyo, it was agreed that the Onkyo’s AV Business Split would be the best method to enable timely decision-making for home AV business.

According to the updated integration plan, both parties will mutually and utilize their managerial resources such as their brand power and technology, to mutually improve their ability to develop and launch products, and to strengthen their respective managerial base by improving cost competitiveness. Pioneer and Onkyo will maintain their respective brands.