JVC 2002 Annual Report Download - page 3

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ANNUAL REPORT 2 0 0 2
10
A NEW GROW TH STRATEGY
TO OUR CUSTOMERS, EM PLOYEES AND STOCKHOLDERS
Masahiko Terada, President
Fiscal 2 0 0 2 , ended March 31 , 2 00 2 was a good year for JVC
in Europe and Asia. Double-digit growth in these markets helped
lift consolidated net sales 2 .1% year on year, to ¥ 95 4 .2
billion (US$ 7,1 7 4 million). However, this impressive
performance was overshadowed by the effects of the
persistent slump and declining selling prices in the
Japanese market. Mainly because of weakness in
Japan, we recorded an operating loss of ¥ 1 2 .1 billion
(US$ 9 1 million). After several one-time charges,
we had a net loss of ¥ 4 4 .6 billion (US$ 33 5 million).