Pioneer net sales for the fiscal first quarter ended 30 June fell 2% to JPY109.3bn (US$1.1bn) compared to JPY111.4bn in the fiscal first quarter of 2012. The company incurred an operating loss of JPY7.6bn compared to an operating income of JPY599m in the year ago quarter.

Loss before income taxes and minority interests widened to JPY9.4bn compared to JPY1.4bn. Net loss widened to JPY10.1bn from JPY2.8bn.

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Forecast for fiscal year 2014:

Net sales: JPY505bn

Operating income: JPY10bn

Net income: JPY500m