JVCKENWOOD first quarter profit falls 37% on revenue drop

JVCKENWOOD Corporation reported first quarter net sales of 80.2bn yen, down 8.6% year-over-year, while profit attributable to owners fell 37.4% to 3.4bn yen.

The decline was driven by component supply issues affecting the Safety & Security segment's wireless system business, plus US tariff impacts on the Mobility & Telematics Services and Entertainment Solutions segments.

The company expects production and sales to recover in the second quarter and maintained its full-year forecast.