Following similar moves by other Japanese companies including
Sharp and Panasonic, Pioneer lowered its business forecasts for
fiscal 2013 to reflect factors including stagnation in car navigation sales in the consumer market, a market contraction for optical discs, and anticipated lower sales in China.
For FY2013, Pioneer now expects its net sales to reach the 466
billion Yen (500 billion Yen previous forecast,) a 15 billion
yen operating income (20 billion Yen previous forecast,) and a
net income of 1 billion yen (8.5 billion yen previous forecast.)
For the second quarter of FY2013, Pioneer's sales and profits
decreased year on year. In Car Electronics, although the
company's OEM sales and profits rose as a result of a recovery
in automobile sales, consumer-market sales and profits fell due
to changes in the market environment.
In Home Electronics, profits from optical disc business fell as
a result of market contraction, and profits from home AV
business decreased as well.
In comparison with the second quarter forecasts, both net sales
and operating income fell short of Pioneer's targets. In Car
Electronics, although operating income was in line with
the target for the consumer-market business, it fell short of
the target for the OEM business. Operating income fell short of
the target in Home Electronics as well. Although home AV
business was profitable, as forecast, optical disc business
recorded an operating loss.
In response to drastic changes in the business environment in
this fiscal year, Pioneer will revise its strategies and plans.
The company plans to update its medium-term plan in May 2013, to
realize growth and improve profitability.