JVCKENWOOD Announces Steady Communications Systems Business Despite the Impact of a Plant Shutdown
JVCKENWOOD Group recently issued the financial result for FYE3/’20, full-year earnings forecast for FYE3/’21 and a response to the impact of the Novel Coronavirus pandemic.
The company stated that the core operating income of the JVCKENWOOD Group as a whole declined due to profit decreases in the Auto Movive Sector and the Media Services Sector, despite higher profits in the Public Services Sector of wich the JVCKENWOOD Communication Systems Business, with the portfolio of professional radio systems, amateur radio equipment, wireless system devices, are part of. In addition, while the Communication Systems Business was largely steady, there was the impact of a shutdown of a plant in Malaysia.
The global economy is expected to remain uncertain due to stagnant consumer spending and corporate business activities caused by the spread of the pandemic of the novel coronavirus.
While efforts are made to minimize the impact on JVCKENWOOD business activities, JVCKENWOOD said that it is difficult to reasonably calculate the impacts of the pandemic of the novel coronavirus at the moment. Therefore, the consolidated earnings forecast for FYE3/’21 is undecided and will be disclosed promptly when it becomes possible to calculate it in the future, according to the Results and Forecast Briefing on 20 May.