JVCKENWOOD Exceeds Targets by Strengthening it's Communications Systems Business

Company to shift resources to growth areas, strengthen technological development, and establish a diverse and flexible hybrid work environment.

In a statement EGUCHI Shoichiro, Representative Director of the Board, President and CEO of JVCKENWOOD reflects on the medium-term management plan "VISION 2025" that was formulated in April 2023, and is strengthening the management foundation to maximize the corporate value, with "Change for Growth" as its basic strategy.

EGUCHI Shoichiro said:

"In fiscal 2023, the first year of the plan, we exceeded the targets by strengthening the Communications Systems Business, which is a driver of profit generation, and reviewing the business portfolio, as well as undertaking initiatives to be conscious of the cost of capital and share price. We achieved our record-high income levels for core operating income since the management integration.

We will continue to strengthen our foundations through our three strategies for maximizing corporate value — our business strategy, financial strategy, and sustainability strategy — and thus improve our earning power, strengthen our financial position, and promote ESG management, as we aim to become a "100-year company" and advance further beyond.

Furthermore, Value Creation Square, a new value creation center, is scheduled to open in the Yokohama head office area in fiscal 2024. We will shift resources to growth areas, strengthen technological development, and establish a diverse and flexible hybrid work environment to promote work style reform and steady "Change for Growth."

Based on our corporate philosophy of "Creating excitement and peace of mind for the people of the world," we will strive together as a Group to enhance our corporate value and make the leap toward our long-term vision of becoming an excellent company that combines both strength and resilience."