Notice with Respect to Basic Agreement for the Integration of Pioneer’s Home AV Business and OnkyoBasic Agreement for Integration • September 12th, 2014
Pioneer Corporation (Head Office: Kawasaki City, Kanagawa Prefecture; President & CEO: Susumu Kotani; hereinafter “Pioneer”) and Onkyo Corporation (Head Office: Osaka City; President & CEO: Munenori Otsuki; hereinafter “Onkyo”) executed a basic agreement (the “Basic Agreement”) today to integrate Pioneer’s Home AV business, phone business and headphone-related business, with Onkyo, as follows (the “Integration”). Through the Basic Agreement, Pioneer and Onkyo agreed for Pioneer to acquire a minority stake in Onkyo, for Onkyo to acquire all the outstanding shares of Pioneer Home Electronics Corporation (“PHE”) which is a wholly-owned subsidiary of Pioneer, and for PHE and Onkyo to amalgamate.
