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Security/ Audio
Kenwood
Aiming to become a Global Excellent Company with our core competencies in audio and wireless radio communication technologies.
Kenwood, which was established in 1946 in Nagano prefecture as a company specializing in radio assembly and repair, produced an advanced high-frequency coil by taking advantage of its location surrounded by mountains, where radio waves were weak. The highfrequency technology that was built at that time became the base for the Company to develop FM tuners and amateur radios. Since then, it has expanded its business domains steadily to include home-use and car-mounted audio systems as well as commercial radio equipments. Its business areas have also expanded into North America, Europe, Asia, particularly China, East Europe, particularly Russia, Latin America and the Middle East.
During the period when the Company was called TRIO Electronics, Inc. (1960 - 1986), it developed as a full-scale audio manufacturer with the launch of FM tuners that were evaluated as the world's best, followed by transistorizing audio products for the first time in the industry. The Company leveraged its advanced technologies that it had developed in home-use audio products to enter into the car audio product and portable audio product markets in 1980 and 1982, respectively, establishing the foundation of its present concept of sound entertainment.
In 1986, the Company was renamed as Kenwood Corporation, and it proactively entered into new business fields such as car navigation system and mobile phone businesses in line with the development of digital, networking and IT technologies, while expanding not only the audio product business but also the radio equipment business as "Kenwood - sound and communications."
After Japan's bubble economy collapsed, its earnings slowed down for a while. This was because of a severe business environment and deteriorating profitability in the matured home electronics business, in addition to new businesses which unexpectedly turned out to be unsuccessful. As a result of implementing a bold program to restructure its corporate structure after July 2002, however, it was able to post a record-high consolidated net income in fiscal 2002, achieving a "V"-shape recovery in net income.
In May 2003, the Company formulated the first mid-term business plan "Excellent Kenwood Plan," and focused on enhancing its competitiveness and promoting a growth strategy. As a result, record net incomes were seen for two consecutive years. Simultaneously, the Company strived to implement the "New Financial Strategy," achieving a "resumption of dividend payment" that was one of the objectives of the first mid-term business plan, as well as setting a course for "implementing zero net-debt business management" and "achieving a 20% return on equity (ROE)." In addition, the Company completed the redemption of preferred stocks in August 2005 to sweep away the past negative legacies, thus accomplishing the radical reform of the financial base and capital structure.
At present, the Company is implementing a growth strategy in the businesses of car electronics, communications equipment and home electronics under the new corporate vision — "Reaching out to discover, inspire and enhance the enjoyment of life" by leveraging its assets such as technical prowess, products planning capability, global networks and the brand in order to accomplish the goals of the second mid-term business plan "Value Creation Plan" that was formulated in May 2005. As the sole manufacturer simultaneously operating in the car electronics, communications equipment and home electronics businesses, we will continue our utmost effort to establish the business of "Mobile & Home Multimedia Systems" by further combining audio and wireless radio technologies as our core competence, and become the dominant company in the world.
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13/Jan/2006, New Delhi
Asia's largest Automotive show. The 8th AutoExpo 2006 is going to be held at Pragati Maidan, New Delhi, India, between January 12 and 17, 2006..
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