JVCKENWOOD Changes Public Service Sector name in Security & Security Sector - Reporting Strong Revenue

On April 1, in order to to transform the business portfolio to maximize corporate value., the JVCKENWOOD's Public Service sector and Media Service sector has been renamed.

The Public Services sector, that consists of communications systems business and professional systems business, is now renamed to the Safety & Security sector (S&S).

The company also shared its Results and Forecast Briefing Fiscal Year Ended March 2023 (IFRS).

Despite higher revenue from continued strength in the Communications Systems Business, income will remain at the same level as the previous fiscal year due to plans to make strategic investments to achieve the goals of the medium-term management plan.

Furthermore, the company established a system to increase production to meet growing demand

• Expansion of production line at a plant in Malaysia for NX-1000 wireless devices for private markets -
  • FYʼ22: Up 30% (unit count basis, year over year)
  • FYʼ23: Up 50% (unit count basis, year over year)
• Starting full-scale production of VP8000 wireless devices at a plant in Yamagata for the public safety market Received more orders than originally planned

To increase system orders, the company also expanded it's staff at a U.S. wireless communications systems subsidiary.

Furthermore, as part of the “Monozukuri(Manufacturing) Reform,” the sizes of the JVCKENWOOD production bases will be modified for integration in a manner commensurate with the total production volume and total labor-hours. JVCKENWOOD will do this by focusing on promoting automation, returning to domestic production, and constructing supplier ecosystems.