JVCKENWOOD Communications Systems Business 2023 to Rely Mainly on US Public Safety Market and Tri-Band Radio Sales

Revenue of the JVCKENWOOD Group for the fiscal year ended March 31, 2023 increased significantly from the same period of the previous year. This was mainly due to the increased revenue resulting from the normalization of production and sales in the Mobility & Telematics Services Sector and the significant increased revenue in the Communications Systems Business in the Public Service Sector from the stronger-than-expected sales. Operating profit of the Group also rose significantly from the previous year as a result of the effect of increased revenue and the recording of a gain on transfer of fixed assets (approximately 9,700 million yen) in the third quarter of the fiscal year ended March 31, 2023.

The report states that sales in the Communications Systems Business in the Public Service Sector continued to be strong and significantly more than expected.

JVCKENWOOD writes in their 2023 Financial Report, that over 2023, the JVCKENWOOD Communications Systems Business, revenue significantly increased approximately 16,100 million yen from the previous year and showed continued strength.

This strong growth was mainly due to robust demand in the public safety market in the United States backed by a large government budget, the advancing acquisition of orders with the introduction of our new tri-band-compatible radios with high performance, in addition to the increasing demand for professional radios from the growing global momentum for crisis management.

Income increased significantly in the Communications Systems Business from the previous year due to the effect of increased revenue. As a result, core operating income in the Public Service Sector as a whole also increased significantly.