Kenwood 2010 Annual Report Download

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Annual Report 2010 Company Profile Section

Table of contents

  • Page 1
    Annual Report 2010 Company Profile Section

  • Page 2
    ..., we will create new and unconventional added value and evolve into a corporate group that provides customers with incomparable experiences they have never before experienced. Contents Financial Highlights Management Message Management Policy and Strategies Outline of Business and Priority Measures...

  • Page 3
    ... fiscal year ended March 2009, JVCʼs results for the first half are not consolidated due to the adoption of the purchase method. *2. JVCʼs net sales in the reference figures have been converted under the net method and have not been certified by the accounting firm. JVC KENWOOD Holdings, Inc. 1

  • Page 4
    ... JVC Kenwood Group and achieve new growth, we strengthened business and product competitiveness and improved sales and profits in the following two businesses: the Car Electronics business, where the most positive effects of integration are expected, and the Land Mobile Radio business, in which high...

  • Page 5
    ... new media and services. With respect to the land mobile radio segment, Kenwood is ranked second in the world and top in Japan by market share in a market where high levels of public safety are required. Meanwhile, JVC is active in the business solutions segment, marketing security and audio...

  • Page 6
    ...common to JVC and Kenwood (the Car Electronics and Home Audio businesses). But from now on, the Company will try to create and enhance synergy effects, promote new businesses and development new products. It will do this by optimizing the integrated management of the Group as well as businesses that...

  • Page 7
    ... to the JVCʼs main plant in Thailand, namely the display manufacturing center, by splitting off the headquarters function. A new strategy will be promoted by fully utilizing the Companyʼs strengths in branding, marketing, merchandizing and development, as well as its sales network. At the...

  • Page 8
    ... camcorders and security cameras. Reorganizing the production system Yokosuka Plant of JVC Current status Camcorder (for domestic market) BS* products (commercial AV equipment) Projector Malaysia Plant of JVC Camcorder Home audio Thai Plant of JVC Display BS* products (commercial AV equipment...

  • Page 9
    ... 55% 62% CE Home & Mobile Electronics Business (HM) Business Solution (BS) Communications (COM) Professional Systems Business (BB) Car Electronics Business (CE) 20% 42% 0% FYE 3/'09 FYE 3/'10 FYE 3/'11 (Plan) FYE 3/'13 (Plan) Operating income (Billions of yen) JVC KENWOOD Holdings, Inc. 7

  • Page 10
    ... the Corporate Base set forth above, the Company aims to secure a turnaround in operating income (see note) for the combined total of the Home & Mobile Electronics and Entertainment businesses. ＊As for the Home & Mobile Electronics Business, to implement a new business model by concentrating...

  • Page 11
    ...3/'13 Target Change (Billions of yen) Segment Car Electronics + Professional Systems Home & Mobile Electronics + Entertainment New operation / Other Net sales Operating income Net sales Operating income Net sales Operating income Net sales Operating income Ordinary income Net income 200.3 1.7 186...

  • Page 12
    ...Measures Car Electronics Business â- FYE 3/ʼ10（Millions of yen） Consolidated net sales: 107,814 Consolidated operating income: 4,090 Sales composition: 27% â- Major Products Car Audio Car AV System Car Navigation System CD and DVD mechanism for car-mounted equipment 10 JVC KENWOOD Holdings...

  • Page 13
    ... new media and services for the next generation. Further, we will also develop car electronics to be used, for example, in driving support systems so that the Car Electronics business will be able to drive the Groupʼs profitable growth. Integrated navigation system manufactured by Kenwood and JVC...

  • Page 14
    ... Systems Business â- FYE 3/ʼ10（Millions of yen） Consolidated net sales: 91,390 Consolidated operating loss: -1,321 Sales composition: 23% â- Major Products Land Mobile Radio Equipment Video Surveillance Equipment Video Equipment Audio Equipment Display Equipment 12 JVC KENWOOD Holdings...

  • Page 15
    ...At the same time, we will create a new business in response to the expansion in the public safety and security markets by commercializing a wireless transmission system for surveillance camera images that combines both companiesʼ technologies and know-how. Digital Land Mobile Radio "NEXEDGE®" for...

  • Page 16
    ... Measures Home & Mobile Electronics Business â- FYE 3/ʼ10（Millions of yen） Consolidated net sales: 141,773 Consolidated operating loss: -10,752 Sales composition: 36% â- Major Products Camcorders (Video Cameras) Home Audio AV Accessories Projectors Displays 14 JVC KENWOOD Holdings, Inc...

  • Page 17
    ... and the digital imaging business, which encompasses mainly camcorders (video cameras). In the home entertainment business, the AV accessory segment established a highly profitable structure by forming a fabless business model. The home audio system segment, as the common business of Kenwood and JVC...

  • Page 18
    ... net sales: 44,934 Consolidated operating loss: -1,744 Sales composition: 11% â- Major Products Planning, Production and Sales of Audio and Video Software Including CDs and DVDs Production and Sales of CDs and DVDs (pre-recorded) Distribution of Audio and Other Software 16 JVC KENWOOD Holdings...

  • Page 19
    ... music distribution in order to support the creation of strong brands ❹T  he Promotion Business: Planning new products on a low budget and conducting totally unexpected marketing activities by utilizing the know-how and sales channels of ❺T  he Space Producing Business: Providing added value...

  • Page 20
    Outline of Business and Priority Measures New Business 18 JVC KENWOOD Holdings, Inc.

  • Page 21
    ...strategy, and creating and increasing corporate value by applying the synergies of management integration. By integrating the video, audio and wireless communications technologies of JVC and Kenwood at a high level, JVC Kenwood, with the New Business Development Center at the helm, has been working...

  • Page 22
    ... Board, the Groupʼs highest decision-making body chaired by the Companyʼs president; the Environment boards, which are under the control of the JVC KENWOOD Holdings Environment Board and are chaired by the managers or environmental directors of operating companies, production bases, and production...

  • Page 23
    ... An employee of JVCʼs U.S. plant (left) and pupils of Arcadia Elementary School Amateur Radio Products Donated to Support Reconstruction Following the Haiti Earthquake Kenwood donated Amateur Radio (Ham) products, which offer a means of communication that requires no public infrastructure, through...

  • Page 24
    ... New Business Development Center Compliance Committee Information Disclosure Council PL Council Environment Council Strategic Finance & Accounting Division Integrated Synergy Development Division JVC J&K Car Electronics Other JVC Kenwood Group Companies Kenwood 22 JVC KENWOOD Holdings...

  • Page 25
    ... Groupʼs business execution, perform accounting audits and hold the corporate audit function. â- Internal Audits and Auditorsʼ Audits Systems JVC Kenwood conducts internal audits on the overall business execution of the entire Group. Results of these audits are reported to the Board of Directors...

  • Page 26
    ...ended March 31, 2010. of a system that maintains a board of directors with the authority to decide important management matters. 2. Establish the "JVC Kenwood Group Code of Conduct on Compliance" (hereinafter "Code of Conduct") that specifically outlines common values and ethical views to be shared...

  • Page 27
    ...of JVC Kenwood, and first develop "improvement measures to prevent recurrence of inappropriate accounting, etc.," applicable throughout the Group to be promoted and monitored. In addition, assign a director responsible for compliance at each Group company to strengthen the internal control system of...

  • Page 28
    ... Strategy) Hisayoshi Fuwa Director of the Board (in charge of Group Management Reforms) Hiroshi Odaka Director of the Board, and President and Representative Director of the Board of Kenwood Kazuhiro Aigami Director of the Board, and President and Representative Director of the Board of JVC...

  • Page 29
    ... & Executive Officer, President and Representative Director of the Board of J&K Car Electronics * Shoichiro Eguchi * Concurrently serving as Director of the Board Representative Directors of Operating Company Victor Company of Japan, Limited (Director of the Board of JVC Kenwood) President and...

  • Page 30
    ... of the car electronics business of JVC and Kenwood were taken over by J&K Technologies through a company split (simplified absorption-type split) Launched a Kenwood-brand AV control center "KRF-V9300D" (an AV amplifier for home theater systems) that uses a HDMI/DSP module of J&K Technologies as the...

  • Page 31
    ... of land mobile radios in the Americas Launched the Simultaneous Communications System and VoIP Radio Dispatch System KIV-700 Digital Media Receiver has garnered the 2010-2011 European Imaging and Sound Associationʼs (EISA) European In-Car Head Unit award. (Photoâ'¨) JVC KENWOOD Holdings, Inc...

  • Page 32
    ....) Home audio, car electronics products Car electronics Communications equipment Car electronics, Home electronics Car electronics, Communications equipment, Home electronics Europe: Affiliated Sales Company Company Name JVC Europe Limited JVC (U.K.) A division of JVC Europe Ltd. JVC Professional...

  • Page 33
    ... China China China Other Main Global affiliated Company Company Name JVC Logistics Europe N.V. JVC Technical Services Europe Gmbh JVC Technology Centre Europe Gmbh JVC Industrial America, Inc. JVC Finance of America JVC Marketing India Private Limited JVC Trading (Shanghai) Co., Ltd. Beijing JVC AV...

  • Page 34
    ... audio Video cameras, TVs, projectors Car electronics, Home audio Communications Main Japanese Manufacturing Sites and affiliated Manufacturing Company Name JVC Yokohama Plant JVC Yokosuka Plant Victor Creative Media Co., Ltd. Victor Interior Furniture Co., Ltd. Kenwood Yamagata Corporation Kenwood...

  • Page 35
    ...end of June 2010 Co r p o r a t e Da t a Joint Holding Company Corporate Name Business Segments JVC KENWOOD Holdings, Inc. Controlling and managing the business activities by operating the Car Electronics business, Professional Systems business, Home & Mobile Electronics business and Entertainment...

  • Page 36
    3-12, MoriyaCho, Kanagawa-ku, Yokohama-shi Kanagawa, 221-0022, Japan For further information, please contact: Public and Investor Relations, Strategic Corporate Planning Div. Tel: +81-(0)45-444-5232 Fax: +81-(0)45-444-5239 E-mail:[email protected] â'¸2010 JVC KENWOOD Holdings, Inc. JKHD0019