Pioneer 2010 Annual Report Download - page 16

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Review of Operations
Pioneer Corporation and Subsidiaries
Year ended March 31, 2010 compared with year ended March 31, 2009
0
100
200
300
400
2008 2009 2010 –15
0
15
30
2008 2009 2010
0
100
200
300
400
2008 2009 2010 –40
–30
–20
0
–10
2008 2009 2010
Net Sales
Net Sales
Operating Income
(Loss)
Operating Loss
(Billions of yen)
(Billions of yen)
(Billions of yen)
(Billions of yen)
Car Electronics
Car Electronics sales decreased 14.5% year on year to
¥249.3 billion (US$2,681.0 million) because of lower sales of
both car navigation systems and car audio products. In car
navigation systems, overall sales declined due to decreased
consumer-market sales in Japan, Europe and North America,
and reduced OEM sales mainly in Japan and North America.
In car audio products, consumer-market sales decreased
mainly because of lower overseas sales. Meanwhile, OEM
sales rose due to higher sales in Japan and China. Total OEM
sales in this business segment accounted for approximately
44% of Car Electronics sales, compared with approximately
41% in the previous fiscal year.
In terms of geographic sales, sales in Japan decreased
8.5% to ¥104.4 billion (US$1,120.0 million), while overseas
sales decreased 18.4% to ¥145.0 billion (US$1,558.9 million).
This segment reported an operating loss of ¥7.3 billion
(US$78.2 million), improving from a ¥12.3 billion loss in the
previous fiscal year. This change was due to reduced fixed
costs and improvement in the gross profit margin, owing to
benefits from restructuring, despite decreased sales.
Home Electronics
Home Electronics sales decreased 36.3% year on year to
¥133.3 billion (US$1,433.6 million), mainly due to lower sales
of plasma displays and DVD drives, despite higher sales of
Blu-ray Disc-related products as an optical disc joint venture
commenced operations.
In terms of geographic sales, sales in Japan increased
29.3% to ¥40.1 billion (US$431.1 million), while overseas
sales declined 47.7% to ¥93.2 billion (US$1,002.5 million).
This segment recorded an operating loss of ¥9.1 billion
(US$98.3 million), improving from a ¥38.6 billion loss in fiscal
2009. The smaller operating loss reflected reduced fixed
costs, owing to benefits from restructuring, and the record-
ing of lump-sum income from patents related to plasma
displays, despite the drop in sales.
PIONEER CORPORATION Annual Report 2010
Main Products
■ Car Navigation Systems ■ Car Stereos ■ Car AV Systems
■ Car Speakers
Main Products
■ Audio Systems ■ Audio Components ■ DJ Equipment
■ Equipment for Cable-TV Systems ■ Blu-ray Disc Players
■ Blu-ray Disc Recorders ■ Blu-ray Disc Drives
■ DVD Players ■ DVD Drives ■ Plasma Displays
■
Japan
■
Overseas
■
Japan
■
Overseas
14