Pioneer 2011 Annual Report Download - page 14

Download and view the complete annual report

Please find page 14 of the 2011 Pioneer annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 56

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56

Pioneer Corporation Annual Report 2011
12
0
100
200
300
400
–10
0
10
20
177.7
114.0
145.0 146.4
291.7
249.3 254.1
–12.3
–7.3
14.0
104.4 107.7
201120102009 201120102009
Operating Income (Loss)
(Billion yen)
Net Sales
(Billion yen)
OverseasJapan
Review of Operations (Fiscal 2011, ended March 31, 2011)
Car Electronics
Car Electronics sales were negatively affected by
the stronger yen, but nevertheless grew 1.9% year
on year, to ¥254.1 billion. Sales of car navigation
systems decreased, following a decline in OEM
sales in Japan and China, while consumer-market
sales were solid mainly in Japan. In car audio prod-
ucts, consumer-market sales recorded increased
sales mainly from growth in North America and
Europe. OEM sales rose as well, on higher sales in
Japan and North America, despite decreased sales
in China. In total, OEM sales accounted for approx-
imately 43% of Car Electronics sales, compared
with roughly 44% in the previous fiscal year.
By geographic region, sales in Japan grew 3.2%
to ¥107.7 billion, and overseas sales rose 1.0% to
¥146.4 billion despite the Japanese yen’s apprecia-
tion.
Operating income for the segment was a ¥14.0
billion profit, compared with a ¥7.3 billion operating
loss in fiscal 2010, reflecting on an improvement in
the gross profit margin from restructuring and cost
reductions, combined with higher sales.
Home Electronics
Home Electronics sales grew 16.2% year on year, to
¥157.6 billion. Despite a decline in sales of plasma
displays, from which business Pioneer withdrew in
fiscal 2010, in Europe and North America, there was
a large increase in sales of Blu-ray Disc drive-related
products from the commencement of operations at
an optical disc joint venture in the second half of the
previous fiscal year, and sales of AV receivers, pri-
marily in North America, grew as well.
By geographic region, sales in Japan roughly
doubled to ¥83.2 billion, while overseas sales
declined 20.9% to ¥74.3 billion due to the appre-
ciation of the Japanese yen.
The segment recorded positive operating
income in the amount of ¥2.5 billion, compared
with ¥9.2 billion of operating loss in fiscal 2010,
from lower fixed costs as a result of restructuring,
combined with sales growth.
Main Products
Q Car Navigation Systems Q Car Stereos
Q Car AV Systems Q Car Speakers
Main Products
Q Audio Systems Q Audio Components Q DJ Equipment
Q Equipment for Cable-TV Systems Q Blu-ray Disc Players
Q Blu-ray Disc Drives Q DVD Players Q DVD Drives
Q AV Accessories
0
100
200
300
201120102009
–10
0
10
20
201120102009
178.9
32.5
94.0
74.3
211.4
135.6
157.6
–38.6
–9.2
2.5
41.6
83.2
Operating Income (Loss)
(Billion yen)
Net Sales
(Billion yen)
OverseasJapan