Alps Alpine and JVCKENWOOD reported results for the first quarter of the Japanese fiscal year ended, June 30.
Sales in AlpsAlpine’s Module System Segment, which includes the infotainment sector, rose almost 11 percent to $758 million. But the higher cost of parts led to a widening of the sector’s net operating loss to $44 million, compared to a net operating loss of $27 million a year ago.
AlpsAlpine said, “The production of new cars by auto–makers which are our major customers decreased sharply compared to that of the same period of the previous year because the parts shortage such as semiconductor brought turmoil due to the lockdown caused by the increase in novel coronavirus infection in China.” The company’s financial report added, “Automotive infotainment products were influenced by these factors and the operating income went lower than that of the same period of the previous fiscal year due to the cost increase brought by the material cost escalation although net sales rose up by depreciation of yen.”
AlpsAlpine total company sales, including components, sensors and logistics, saw increases in both sales and profits for the quarter. Sales increased to $1.5 billion (204,978 million yen), up from $1.3 billion for the same quarter a year ago. Net income swung to a profit of $19.5 million, compared to a loss of $32.4 million last year.
JVCKENWOOD announced higher sales but its profit swung to a loss. Sales rose to $537 million (72 billion yen) up from $481 million for the period a year ago. It reported a loss of $1.8 million for the quarter, compared to profits of $11 million a year ago.
In the Mobility & Telematics Services Sector, sales rose to $327 million, up from $288 million. However core operating income swung to a loss of $1.9 million compared to a gain of $1.5 million a year earlier.
