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Group Philosophy
Contents
Business Strategies and Direction
“Move the Heart and Touch the Soul”
A leading company in “Comprehensive Infotainment”
An introduction to the Car Electronics and Others businesses, and sales by geographic market
Business Profile 01
Remarks by President and CEO Susumu Kotani discussing Pioneer’s business results for fiscal
2016, the newly formulated medium-term plan, and the direction that Pioneer is pursuing
To Our Stakeholders 02
04
An explanation of the medium-term plan for the five years through fiscal 2021
    Medium-Term Plan
Research and Development
An introduction to our research and development, which anticipates the future of the Car
Electronics business and cultivates new core businesses
12
Review of Operations
A review of the Car Electronics and Others businesses Pioneer operated in fiscal 2016
11
17
Management
14
Corporate Governance 18
Financial Section
16
Corporate Citizenship and
Environmental Preservation Activities 57
General Information on Shares
Special Feature Medium-Term Plan
We announced the Medium-Term Plan in May 2016, covering the fi ve years through fi scal 2021, ending March 31, 2021.
The following is an explanation of the growth strate gies for the Car Electronics business, Pioneer’s main
business and the core component of the Medium-Term Plan.
■
Fiscal 2017
Forecasts
Fiscal 2018
Plan
Fiscal 2019
Plan
Fiscal 2021
Plan
Net Sales420.0 430.0450.0 510.0
Operating Income
(Operating Income Margin)
8.0
(1.9%)
13.0
(3.0%)
20.0
(4.4%)
31.0
(6.1%)
Net Income*1.0 4.013.022.0
Car Electronics
Net Sales335.0 340.0355.0 410.0
Operating
Income 8.013.017.025.0
Others
Net Sales85.090.095.0100.0
Operating
Income
003.06.0
(Billion yen)
Ca
Ma
Consumer
Busine
OE
・
・
・
➡➡
Consolidated Numerical Targets for Medium-Term Plan
■ ■
■ ■
■ ■
■ ■
■
■
■
■ ■
■ ■
Car Electronics sales declined 1.2% year on year, to
¥351.3 billion.
Sales of car audio products decreased. Consumer-
market sales declined, mainly from lower sales in
emerging markets. OEM sales rose owing to increases
mainly in Japan and North America.
Car navigation system sales increased. Consumer-
market sales declined in Japan, but growth in China
By geographic region, sales in Japan
declined
1.9%, to ¥128.9 billion, and overseas sales
declined
0.8%, to ¥222.4 billion.
Operating income declined 36.0% ye
ar
year, to ¥7.0 billion, as a re sult of the dete
rioratio
in the cost of sales ratio mainly due to
increase
depreciation and amor tization, and foreign ex
change
rate movements, as well as lower sales, despit
78.1
%
Composition of Sales by Business Segment
Net Sales (Billion yen)
2015 20162014
Overseas
Japan
196.8
151.2
222.4
128.9
348.1
224.2
131.3
355.6351.3
400
200
0
Operating Income (Billion yen)
2015 20162014
11.0
12.4
7.0
20
10
0
Car Electronics
02 Pioneer Corporation Annual Report 2016