JVCKENWOOD Reports Strong Performance of the Communications Systems Business

Revision of Consolidated Earnings Forecast for the Fiscal Year Ending March 2023

During the third quarter of the fiscal year ending March 2023, JVCKENWOOD's performance significantly exceeded the previous forecast. This was due to the strong performance of the Communications Systems Business in the Public Service Sector where demand expanded due to the worldwide momentum toward crisis management, as well as to strong demand in the public safety market in the U.S. backed by large government budgets, and to the introduction of new tri-band professional radios with high functionality, which led to the acquisition of orders.

For the fourth quarter of the fiscal year ending March 31, 2023, the Company revised the consolidated earnings forecast for the fiscal year ending March 31, 2023, as shown above, primarily due to the effects of orders for large-scale projects in the Communications Systems Business against the backdrop of continued strong market conditions.

The revised forecast for each profit below core operating income records the highest income since the management integration in 2008.