Yesterday, Sharp President Okuda Ryuji attended a press conference in Tokyo. Sharp issued a full-year loss warning yesterday, expecting a record net loss of US $ 5.62 billion in fiscal 2012.
Sony's single-quarter net loss of 194 million US dollars, Panasonic and Sharp are expected to lose for the whole year, collective losses for two consecutive years
Yesterday, the Japanese home appliance giant Sony Corporation released a performance report showing that the company's second-quarter net loss was 15.5 billion yen (about 194 million US dollars). This is Sony ’s seventh consecutive quarter of losses. Two other Japanese companies, Panasonic and Sharp, also issued full-year loss warnings.
Panasonic first showed no dividend in 63 years
In 2011, Japan's three major consumer electronics giants Sony, Sharp, and Panasonic suffered losses of US $ 5.6 billion, US $ 4.7 billion, and US $ 9.64 billion, respectively. These huge performance losses indicate that the former industry leaders have begun to decline.
Yesterday, Sony released a performance report showing that the company's second-quarter net loss was $ 194 million.
On October 31, Panasonic lowered its fiscal year 2012 performance forecast and expected a loss of US $ 9.55 billion. This is Panasonic's huge loss for two consecutive years, second only to the record 772.1 billion yen (about 9.64 billion US dollars) in fiscal 2011. Due to the huge loss, Panasonic will not distribute dividends to shareholders in FY2012. This is the second time in the 63 years since the 1949 fiscal year that there has been no dividends for the entire fiscal year. In addition, from November, company executives cut salaries by 20% to 40%, and winter bonuses by 35%.
Sharp, another home appliance giant, will also report financial results, and expects a record net loss of $ 5.62 billion in fiscal 2012.
TV industry growth slows
The Sony financial report released yesterday shows that Sony ’s financial business is positive, and that Sony Mobile ’s wholly-owned subsidiary has brought considerable revenue to Sony. But the home entertainment and audio business, including the TV business, still lost about 25.7 billion yen (about 322 million US dollars).
Sony said in its 2009 semi-annual report that it plans to gain 20% of the global market share of the TV business in fiscal 2012, or sell 40 million TV products. However, since then, the growth of the television industry has slowed, and the markets of developed countries have experienced negative growth, especially the economic environment of the European and American markets has fallen into a downturn. In addition, the supply of LCD panels on the market has also changed from a shortage to an oversupply.
Sony CFO (Chief Financial Officer) Kato Yu said yesterday, "Future sales and market share will no longer be the corporate goals that Sony is pursuing. Our current urgent goal is to realize the profitability of Sony's business as soon as possible, and we will not hesitate to reduce the number of sales for this reason." Sony's second-quarter financial report also shows that Sony will cut its expected 15.5 million LCD TV sales in August to 14.5 million.
Analysts believe that the reasons for Sony, Panasonic and Sharp's troubles are about the same, all because of large investment errors, poor product structure, flat TV sales, sluggish prices of white goods and mobile phones, coupled with fierce competition led to a harsh operating environment.
Yesterday, Sony also lowered its full-year sales of major electronic products, including compact digital cameras from 18 million units in August to 16 million units. Matsushita President Tsunehiro Tsuga also said yesterday that he will make every effort to get out of the predicament.
â– Reason
Oversupply sales decline
For Japanese electronics companies, TV has been one of its core products, but in the past two years, the color TV market has been oversupplied, coupled with the popularity of computers and networks, its share has gradually declined, and its status has also declined rapidly.
Yesterday, a Sony (China) spokesman said that the net loss for the quarter was related to the inclusion of a revenue income tax valuation reserve. The group generally expects that it will still achieve 6.60 billion yen (about 82.6 billion US dollars) in fiscal 2012. ) Sales revenue and operating profit of 130 billion yen (about 1.627 billion US dollars). For the latest performance of Sony in China, the spokesperson said it was not convenient to disclose.
Panasonic (China) also said yesterday that the financial report refers to the overall performance of the Group in the first half of the year at the global level. On the Chinese side, the boycott of Japanese goods caused by the Diaoyu Islands incident in recent times has had an impact on Chinese sales, but the specific figures are unknown. Earlier, both Sony and Sharp companies in China had said that boycotting Japanese goods had a significant impact on sales, and sales had fallen sharply.
According to data from third-party research firm Ovi Consulting, the overall decline of Japanese brands in the Chinese market this year was more than 40%. Among them, Sharp, which has the largest sales of Japanese brands, fell more than 50% year-on-year, and Sony also fell more than 40%.
Data show that Sharp's color TV business depends on two-thirds of the overseas market, its LCD TV and LCD panel sales accounted for about 60% of the company's total revenue, and facing the current oversupply in the LCD TV and panel market, the market price After a sharp decline, the company suffered huge losses. (Li Yuan)
Samsung and other Korean brands hit
The rise of Chinese home appliance companies and the impact of companies such as Apple and Samsung have made Japanese companies even worse.
Relying on the cost advantage of the integration of the entire industry chain, the share of South Korea ’s Samsung Electronics and LG Electronics in the global market has risen to 40% in the second quarter of this year, of which Samsung Electronics ’share is as high as 28.5%, which has exceeded the sum of all Japanese brands. .
In addition, in the global market, Japanese brands are also showing decline. According to a survey by the Japan Electronic Information Technology Business Association (JEITA), the output of LCD TVs in Japan in 2011 decreased by 20% compared with 2010. The US display market research organization DisplaySearch said that the global TV market in the first quarter of 2012 will decrease by 8% year-on-year. The domestic LCD TV production in Japan will be less than 10 million units, a sharp decrease of 50% year-on-year.
It is reported that the domestic TV output has been halved in two years. "DisplaySearch" predicts that the trend of Japan's production reduction will continue, and next year's output will be 10% lower than this year's output, only maintaining 9 million units.
Industry insiders said that last year's March 11 earthquake caused Sony, Sharp, Panasonic and many other Japanese home appliance companies to stop production in factories in the disaster area, the supply chain was once interrupted, and the overall Japanese economy showed a sluggish state, resulting in a lack of momentum in the development of the home appliance industry Not enough stamina. (Lin Qiling)
â– Outlook
"It is difficult to predict when to get out of trouble"
Last year, Japanese companies adjusted their strategies, replaced their presidents, and laid off employees for the winter.
In the first quarter of this year, Sony ’s new CEO Hirai Hirai came to power. In March, Panasonic appointed Tsugahiro Tsuga as the new president, and Sharp appointed Okuda Ryuji as the new president. In April this year, Sony announced that it would cut 10,000 jobs, making it the largest layoff in three years. Sharp plans to lay off 5,000 people across the group in the fiscal year ending March 2013.
In addition, according to sources, Sony and Sharp almost gave up the production of color TV sets and handed over to Hon Hai OEM. However, from the current situation, these adjustments have obviously not helped Japanese companies turn around.
Liu Buchen, a senior veteran of home appliances, said the overall feeling is that the trend of Japanese companies throughout the year is worse than expected.
"The level of crisis in the first three quarters of this year has far exceeded our expectations. Since the major losses of mainstream Japanese home appliance companies last year, they have made strategic adjustments and replaced their leadership. But half a year later, these measures have no real effect. In the past three quarters, I haven't seen them perform well, and even the losses have deepened further. "Liu Buchen said that Panasonic, in particular, plans to achieve positive profits this year through strategic adjustments last year, but the losses have further deepened.
"It is difficult to draw optimistic conclusions. The current economic situation has not improved, and the strategic transformation of Japanese home appliance companies shows no signs of success. It is difficult to predict when they will get out of trouble. But at least in the first half of next year, the profitability of Japanese companies is to hit Big question mark. "Liu Buchen said.
â– Stock price
Panasonic hit a 37-year low during the session
Affected by the strong yen and the poorest latest performance report, the stock prices of several Japanese companies including Sony, Panasonic and Sharp fell one after another yesterday. Panasonic's stock price once hit a 37-year low during the session.
Yesterday, in Tokyo stock market, Sony shares fell 4.1% to 915 yen. Sony had set the highest mid-market price of 16,950 yen per share in March 2000. Compared with the market value of more than 120 billion US dollars at the time, the current market value has shrunk by more than 90%, only about 11 billion US dollars.
Also affected by the poor second-quarter financial report, Panasonic's stock price plunged nearly 20% after opening yesterday, once hitting a 37-year low. At the close of the Tokyo stock market in early trading, Panasonic shares fell 19.1%. Sharp closed at 169 yen in Tokyo stock market yesterday, down 1.7% from the previous trading day. This year, Sharp's stock price has fallen by 75%.
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