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JVC Kenwood Post Higher Profit, Lower Sales

2/01/2012 12:03:26 PM Eastern

Tokyo - JVC
Kenwood Holdings reported higher net profit but lower net sales and operating
profit for the nine months ending Dec. 31, 2012.

While hit by the
sluggish world economy, an appreciating yen and the aftermath of the Great East
Japan Earthquake and Thailand floods, JVC Kenwood's net income was 4,409
million yen, about double from the prior year.

Net sales were
236,542 million yen, down 11.5 percent from the prior year. Operating income
was 8,791 million yen, down 6.6 percent from the prior year, the company
reported.

The performance of
two key businesses involving consumer electronics products were mixed during
the period.

Car electronics
sales were 77,707 million yen, down 2,851 million yen. Operating profit was
4,360 million yen, down almost a third from the prior year's 6,024 million yen.

JVC Kenwood
reported that home and mobile products sales were down almost 20,000 million
yen to 59,274 million yen. But the segment had an operating profit of 1,433
million yen compared with an operating loss of 378 million yen in the prior
year.

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