JVC 2002 Annual Report Download - page 7

Download and view the complete annual report

Please find page 7 of the 2002 JVC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 52

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52

ANNUAL REPORT 2 0 0 2
50
alliances with retailers to effectively tie in our new strategy with their new retailing stance. One example
of this collaboration is a deal with a leading electronics retailer to hold Digital Advisor Seminars at their
stores. At these seminars, experienced JVC engineers are on hand to provide technical assistance to
customers who are increasingly confused by the growing complexity of digital products. The thinking
behind this approach is simple: the success of the seminars allows us to select the best in-store position
for our products, enhances the visibility of the JVC brand and gives us access to customer feedback that
can be used to develop future products.
REVIVING THE JVC BRAND THROUGH KEY PRODUCTS
I’ve already commented above about the new role for JVC’s key products. But what do I mean when I
talk about key products that better demonstrate JVC brand value? In short, products that incorporate our
market-leading audio and visual technology. Hardware, software, systems and service businesses are
merging into one, as society becomes increasingly wired into networks. JVC’s growth strategy is designed
to take advantage of this trend by transforming our audio and video hardware, renowned for their quality,
into value-added components that empower the user by enhancing network connectivity. Connecting our
devices to networks will also open the door to other elements of the JVC value chain, allowing us to fully
maximize our software and media property. Consumers are constantly looking for the next superior level
of sound and picture quality; they have an insatiable desire to experience new forms of audio and visual
entertainment. I am convinced that responding to these needs by offering innovative and exciting
entertainment will translate into increasing demand for our key products. Enhancing connectivity will
also lend added value to JVC products in our three priority business areas—high-definition displays,
networkable AV systems and digital high-density storage. This approach will be reinforced in other
areas of JVC—strengthening our core components business and augmenting the value chain in the
software and media business—to ultimately generate new corporate value.
NEW CHALLENGES
To achieve the goals in our three-year plan, we are striving to
lower our breakeven point in sales and generate stronger cash
flows by strengthening our operating structure and working to
launch products more rapidly.
See page 16 for more