Yamada Denki Co. Announces Executive Changes; Provides Earnings Guidance for the Fiscal Year 2012
May 05, 2013
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Yamada Denki Co. announced that Chairman Noboru Yamada will be reinstalled as president on June 27 after a five-year absence, part of an unusual move in which all of the company's executive board members were demoted by one rank. The move is a response to the company's lackluster performance in fiscal 2012, which marked the first time Yamada Denki saw two consecutive years with a downturn in both sales and profit since going public. President Tadao Ichimiya will be demoted to vice president with representative rights. Yamada will retain the title of chief executive officer, and Ichimiya that of chief operating officer.
The company announced on April 22 that it expected a consolidated net profit of JPY 22 billion for fiscal 2012, a 62% drop on the year and below its guidance.
Yamada Holdings Co Ltd is mainly engaged in the business of selling home appliances and information appliances. The Company operates through two business segments. The Denki segment is engaged in the sale of home appliances such as televisions, refrigerators, and washing machines, as well as information appliances such as PCs and cell phones, and home renovation, furniture, interior design, and other products related to the home. The Housing Construction segment is engaged in the sale of detached houses and other housing units, and manufacture and sale of bathrooms, kitchens, and other housing equipment. It also operates environmental businesses, financial businesses, and businesses related to building materials.
YAMADA HOLDINGS CO., LTD. 
