Pioneer 2009 Annual Report Download - page 10

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Revenue Income
(Loss)
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2008 2009
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2008 2009
Revenue Loss
8PIONEER CORPORATION
REVIEW OF OPERATIONS
Business Segments
Car Electronics
Operating revenue decreased 22.0% year on year to ¥291.7 billion (US$2,976.6
million) because of lower sales of both car audio products and car navigation
systems, partly due to lackluster auto sales worldwide. In car navigation systems,
consumer-market sales declined year on year, mainly due to lower sales in North
America, Japan and Europe. Meanwhile, OEM sales rose on the back of higher sales
in Japan and China, despite lower sales in North America. In car audio products,
consumer-market sales decreased, mainly because of lower overseas sales. OEM
sales also decreased due to lower sales in Japan and North America. Total OEM
sales in this segment accounted for approximately 41% of Car Electronics operating
revenue in fiscal 2009, the year ended March 31, 2009, compared with approximately
39% in fiscal 2008.
In terms of geographic operating revenue, operating revenue in Japan decreased
9.8% to ¥114.0 billion (US$1,163.1 million), and overseas operating revenue declined
28.2% to ¥177.7 billion (US$1,813.5 million).
This segment recorded an operating loss of ¥12.3 billion (US$125.9 million) in fiscal
2009, compared with operating income of ¥26.1 billion in fiscal 2008. This was
mainly due to the following factors in the car audio products business: lower sales,
and deterioration in the gross profit margin due to a drop in production volume and
the impact of the stronger yen.
Main Products
• Car Navigation Systems • Car Stereos
• Car AV Systems • Car Speakers
Home Electronics
Operating revenue decreased 36.5% year on year to ¥209.3 billion (US$2,135.3
million). This was largely a result of lower sales of plasma displays and DVD drives.
Display product sales accounted for approximately 38% of Home Electronics
operating revenue in fiscal 2009, compared with approximately 40% in fiscal 2008.
In terms of geographic operating revenue, operating revenue in Japan declined
33.0% to ¥31.0 billion (US$316.4 million), and overseas operating revenue fell 37.1%
to ¥178.2 billion (US$1,818.8 million).
This segment recorded an operating loss of ¥38.6 billion (US$394.1 million),
compared with an operating loss of ¥17.9 billion in the previous fiscal year. This was
mainly due to lower sales and deterioration in the gross profit margin chiefly in
plasma displays.
Main Products
• Plasma Displays • LCD TVs • DVD Recorders
• DVD Players • DVD Drives • Blu-ray Disc Recorders
• Blu-ray Disc Players • Blu-ray Disc Drives • Audio Systems
• Audio Components • DJ Equipment • Equipment for Cable-TV Systems
Revenue and Income (Loss)
(Billions of Yen)
Revenue and Loss
(Billions of Yen)
Pioneer Corporation and Subsidiaries
Year ended March 31, 2009 compared with year ended March 31, 2008