Onkyo, which was delisted last month due to poor management, announced that it had sold its main businesses such as speakers and amplifiers to a joint venture created by Sharp and others.
Onkyo, which is headquartered in Osaka, was delisted last month due to sluggish sales due to an increase in the number of people who enjoy music on smartphones and insolvency for the second consecutive year.
For business restructuring, Onkyo decided to sell its main businesses such as speakers and amplifiers, which account for about half of its sales, to a joint venture between Sharp and the American audio maker "VOXX". On the day, we announced that the procedure was completed.
The sale price is more than 3.3 billion yen.
In the future, "ONKYO" brand products will be mainly produced by Sharp, and sales will be carried out by affiliated companies of "ONKYO" in Japan and by "VOXX" overseas.
The company says it will focus on contract production of speakers for PCs and TVs of other companies.
However, the amount of insolvency of "Onkyo" at the end of March amounted to more than 2.3 billion yen, and it is expected that most of the funds obtained from this sale will be used for repayment to business partners.
Onkyo was the driving force behind the audio boom in the past, but the focus will be on whether we can proceed with business restructuring after letting go of our main business.