Kenwood 2005 Annual Report Download

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ANNUAL REPORT
For the year ended March 2005

Table of contents

  • Page 1
    ANNUAL REPORT For the year ended March 2005

  • Page 2
    ... Our core businesses deal with the rapidly changing Electronics sector and factors including technology, demand, price, competitive environment, changes in economic environment, exchange rate fluctuations and many other factors may adversely impact to management results or the financial condition of...

  • Page 3
    ...Corporation Annual Report 2005 03 ฀ Vision ฀ Core Reaching out to discover, inspire and enhance the enjoyment of life ฀ Principle Value A Step Ahead To drive dynamic evolution through progressive thinking and a willingness to embarace change. The Right Fit To create products and services...

  • Page 4
    ... hold Kenwood Corporation, which had continuously expanded its audio and wireless radio businesses as its main areas of expertise since its foundation, had kept its operating balance in the black even after Japan's bubble economy collapsed. The strong performance was achieved as the car electronics...

  • Page 5
    ... ahead, we recognize the development of technology in the field of digital, network, wireless and multimedia as a new business opportunity. As the sole manufacturer that simultaneously operates in the three businesses of car electronics, communications equipment and home electronics, we will strive...

  • Page 6
    ... as Kenwood Corporation, and it proactively entered into new business fields such as car navigation system and mobile phone businesses in line with the development of digital, networking and IT technologies, while expanding not only the audio product business but also the radio equipment business as...

  • Page 7
    ...Business Center Malaysia Factory "KENWOOD" brand is enhanced at 18 nations and 53 sites in the world Offices Factories Yamagata Factory Sales Singapore Factory Nagano Factory Shanghai Factory Consolidated sales by business segment Car Electronics Business Communications Equipment Business Home...

  • Page 8
    ... segments and establish "Mobile & Home Multimedia System" business Car Electronics Business Communications Equipment Business Development of digital and networking technologies for automobiles has opened remarkable possibilities in the fields of car audio and navigation systems. Since its entry...

  • Page 9
    Kenwood Corporation Annual Report 2005 09 Speaker System Business Home Electronics Business The home electronics business is another of our longstanding operations along with the wireless radio equipment business. Since our commercialization of a high-class FM tuner using advanced highfrequency...

  • Page 10
    ... Stock Number of shares if all of Class B Preferred stock has been converted to common stock Number of new shares issued in the public offering 500 400 Shares in million approx. 128 approx. 128 potential common stock approx. 133 approx. 92 300 200 100 0 2004/3 2005/3 ฀ The "New Financial...

  • Page 11
    ... Sales Car Electronics OEM Business Communications Equipment Business Home Electronics Business Car Electronics Consumer Business Others 250 225.6 200 Billions of yen 178.7 181.1 Consumer Business 150 100 50 0 Growing 2003/3 2004/3 2005/3 Inventory Reduction Product Raw material Work...

  • Page 12
    ...the fusion of high sound quality, digital, and network technologies. Promotion of "Strategic Investments" Promote strategic developments, brand strategies and reinvestments in personnel for new growth and to leap forward World's first HDD car navigation system enables to connect directly with iPod...

  • Page 13
    ... the Team McLaren Mercedes and promoted our brand on a global scale with the concept of high technical capability and reliability. 3 Reinvestment in personnel to enhance driving force behind business World's first high-quality portable HDD audio with digital amplifier operations฀ We accepted 32...

  • Page 14
    ... as a part of our management restructuring efforts, promoting "Production Innovation" intended to drastically reform the profit and cash Shift final year of the "Excellent Kenwood Plan" to flow. During the term ended the second mid-term business plan "Value Creation Plan" March 2005, which was...

  • Page 15
    ... of the car electronics OEM business. of Home Electronics Business Restructure business operations and profit structures to reflect market changes and digital media innovations With prices falling continuously in the home theater systems market due to a reduction in market scale and the intensifying...

  • Page 16
    ... lead time for the development of products. ฀ Establishment of production organization that provides consistency through planning to design, production and quality control Establish a "fabricating" organization that offers superior cost competitiveness and speedy commercialization of high quality...

  • Page 17
    ...in the United States Eliminate past "Negative Legacy" on consolidated base as well In order to make the financial base and capital structure of our subsidiaries sounder, we have completed financial structure reforms with our sales companies in Germany and France during the past term ended March 2005...

  • Page 18
    ... "Excellent Kenwood Plan," to the term ending March 2008. This is intended to take our key businesses of car electronics consumer (audio) business and wireless radio business, which dominate more than half of the sales of our entire group of companies, and further enhance their stable profit base by...

  • Page 19
    ... electronics business, home electronics business and communications equipment business by enhancing a responsive ability for consumer businesses, in which there are rapid changes and by capturing business opportunities from the developments of digital, network, wireless and multimedia technologies...

  • Page 20
    ... business plan, the "Value Creation Plan" on May 20, 2005, the company has started renewed efforts to revamp its revenue base and full-scale growth strategy towards increasing its corporate value, with a new management team consisting of five internal and three external directors, including two new...

  • Page 21
    ... products for the first time in the industry Lists on the first section of the Tokyo Stock Exchange Begins selling commercial wireless radio equipment in Japan Sets up the Company's first overseas production firm in Singapore. Starts manufacturing abroad Enters the car audio field Launches Corporate...

  • Page 22
    ... Johor Bahru, Johor, Malaysia Phone: 60 (7) 237-1261 FAX: 60 (7) 237-1297 Shanghai Kenwood Electronics Co. Ltd. No. 60 Rongle East Road, Songjiang Shanghai, China Postal Code 201613 Phone: 86 (21) 5774-1800 FAX: 86 (21) 5774-2822 North America Kenwood U.S.A. Corporation California Headquarters 2201...

  • Page 23
    Kenwood Corporation Annual Report 2005 23 Kenwood Electronics France S.A. 13, Boulevard Ney, 75018 Paris, France Phone: 33 (1) 44721616 FAX: 33 (1) 44721640 Kenwood Electronics Italia S.p.A. Via G. Sirtori 7/9, 20129 Milano, Italy Phone: 39 (02) 204821 FAX: 39 (02) 29516281 Kenwood Iberica S.A. ...

  • Page 24
    2967-3, Ishikawa-machi, Hachioji-shi, Tokyo, 192-8525 Japan Phone: 81 (426) 46-6724 FAX: 81 (426) 46-1440 URL http://www.kenwood.com/ Printed in Japan on recycled paper.