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PIONEER CORPORATION
24
Financial Review
Year ended March 31, 2008, compared
with year ended March 31, 2007
Results of Operations
Operating revenue
Net sales amounted to ¥772.5 billion, a 2.5% decrease from
fiscal 2007. Sales in Japan were ¥215.6 billion, down 7.7%
from fiscal 2007, and overseas sales decreased 0.4% to
¥556.8 billion. Royalty revenue decreased 57.1% from fiscal
2007 to ¥2.0 billion.
Car Electronics sales increased 4.5% year on year to
¥373.9 billion due to higher sales of both car navigation
systems and car audio products. In car navigation systems,
consumer-market sales were mostly the same as in the previ-
ous fiscal year, while OEM (original equipment manufacturing)
sales increased in North America. In car audio products,
consumer-market sales increased in Central and South
America, but decreased in North America due to market
contraction, while OEM sales rose in Japan, China and North
America. Total OEM sales in this segment accounted for
approximately 39% of Car Electronics sales in fiscal 2008,
compared with approximately 36% in the previous year. In
terms of geographic sales, sales in Japan were ¥126.4 billion,
largely unchanged from fiscal 2007. In Japan, sales of OEM
car audio products increased, but sales of car navigation
systems decreased. Overseas sales increased 6.9% year on
year to ¥247.5 billion, mainly due to increased sales of OEM
car navigation systems in North America and OEM car audio
products in China and North America.
Home Electronics sales decreased 8.8% year on year to
¥329.5 billion. Plasma display sales declined due to a drop in
sales volume mainly in North America and Europe. Plasma
display sales accounted for approximately 40% of Home
Electronics sales, compared with approximately 49% in the
previous fiscal year. Sales of DVD drives and Blu-ray Disc-related
devices rose, while sales of DVD recorders fell. In terms of
geographic sales, sales in Japan declined 21.4% to ¥46.3 billion,
due to decreased sales of DVD recorders and plasma displays.
Overseas sales decreased 6.4% to ¥283.2 billion, due to
decreased sales of plasma displays and DVD recorders, despite
increased sales of DVD drives and Blu-ray Disc-related devices.
Royalty revenue from Patent Licensing decreased 57.1%
year on year to ¥2.0 billion. This decrease was attributable to
the impact of the expiration of some patents licensed to the
optical disc industry.
Others sales decreased 5.5% year on year to ¥69.1
billion. This mainly reflected lower sales of factory automation
(FA) systems and business-use AV systems. In terms of
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Japan
(Billions of Yen)
North America
(Billions of Yen)
Europe
(Billions of Yen)
Other Regions
(Billions of Yen)
Operating Revenue by Geographic Market
Note: Operating revenue by geographic market is based on the location of each unaffiliated customer.