Pioneer 2012 Annual Report Download - page 6

Download and view the complete annual report

Please find page 6 of the 2012 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 58

  • 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
  • 57
  • 58

Pioneer’s Medium-term Plan
Pioneer has set a course for growth, and formulated a medium-term plan for the three years to March
2014 to further accelerate growth and achieve stable and steady increases in sales and profits.
In fiscal 2012, the first year under the plan, the effects of the Great East Japan Earthquake and the
flooding in Thailand reduced net sales by ¥39.6 billion and operating income by ¥12.7 billion. Although
fiscal 2013 will continue to see some impact from the flooding in Thailand, we plan to overcome this and
return to steady progress on a path of growth.
Pioneer has revitalized its management base through restructuring,
and is moving to a phase of full-fledged growth, with the aim of
achieving stable and steady increases in sales and profits.
Financial Strategy
n To realize our growth strategy, actively invest in the development of products in new categories
and the opening of new markets
(Invest 25% of capital expenditures and R&D expenses in new businesses)
n Aim for early resumption of dividend payments
n Aim for ROE of 20% and over, and continue business growth
n Aim for an equity ratio of 40% and achieve a stable financial position
Key Themes of Medium-term Plan
· Aim for sustainable, higher profits
in Car Electronics
· Aim for higher profits in Home Electronics
by achieving profitability in all business
categories
Grow existing businesses
· Leverage Pioneer’s strengths and expand
businesses in emerging markets, where
economic growth continues
· Expand business targeting China and Brazil
followed by India, Russia, ASEAN, Central
and South America, the Middle East, Africa,
and other markets
Expand businesses in emerging markets
· Establish third and fourth businesses to
follow Car Electronics and Home Electronics
· Realize swift and reliable business
development through alliances, leveraging
Pioneer’s technological strengths
Develop new businesses
· Achieve the objectives in the medium-term
plan by active collaboration with strategic
partners
Promote strategic alliances
04 Pioneer Corporation Annual Report 2012