Pioneer Revises Its Business Forecasts for FY2013
Following similar moves by other Japanese companies including
Sharp and Panasonic, Pioneer lowered its business forecasts for
fiscal 2013 to reflect factors including stagnation in car navigation sales in the consumer market, a market contraction for optical discs, and anticipated lower sales in China.
For FY2013, Pioneer now expects its net sales to reach the 466
billion Yen (500 billion Yen previous forecast,) a 15 billion
yen operating income (20 billion Yen previous forecast,) and a
net income of 1 billion yen (8.5 billion yen previous forecast.)
For the second quarter of FY2013, Pioneer's sales and profits decreased year on year. In Car Electronics, although the company's OEM sales and profits rose as a result of a recovery in automobile sales, consumer-market sales and profits fell due to changes in the market environment.
In Home Electronics, profits from optical disc business fell as a result of market contraction, and profits from home AV business decreased as well.
In comparison with the second quarter forecasts, both net sales and operating income fell short of Pioneer's targets. In Car Electronics, although operating income was in line with the target for the consumer-market business, it fell short of the target for the OEM business. Operating income fell short of the target in Home Electronics as well. Although home AV business was profitable, as forecast, optical disc business recorded an operating loss.
In response to drastic changes in the business environment in this fiscal year, Pioneer will revise its strategies and plans. The company plans to update its medium-term plan in May 2013, to realize growth and improve profitability.
For the second quarter of FY2013, Pioneer's sales and profits decreased year on year. In Car Electronics, although the company's OEM sales and profits rose as a result of a recovery in automobile sales, consumer-market sales and profits fell due to changes in the market environment.
In Home Electronics, profits from optical disc business fell as a result of market contraction, and profits from home AV business decreased as well.
In comparison with the second quarter forecasts, both net sales and operating income fell short of Pioneer's targets. In Car Electronics, although operating income was in line with the target for the consumer-market business, it fell short of the target for the OEM business. Operating income fell short of the target in Home Electronics as well. Although home AV business was profitable, as forecast, optical disc business recorded an operating loss.
In response to drastic changes in the business environment in this fiscal year, Pioneer will revise its strategies and plans. The company plans to update its medium-term plan in May 2013, to realize growth and improve profitability.