TEAC and Onkyo Corporation form strategic alliance
Published: ASIA
JAPAN: Global electronics manufacturer TEAC Corporation and Onkyo Corporation have announced they have formed a strategic alliance which will see both companies acquire shares of the other’s stock.
The agreement is part of a mutual corporate goal to enhance shareholder value and meet the demands of the changing marketplace. The companies are currently exploring ways to share manufacturing facilities, logistic centres and R&D resources.
‘The strategic alliance of Onkyo and TEAC will make both companies more competitive in an ever changing market,’ said TEAC president, Yuji Hanabusa.
‘The alliance with TEAC offers unique opportunities to both companies to leverage each other’s considerable strengths to provide innovative products to its customers,’ added Munenori Otsuki, Onkyo president.
Tascam is the professional audio division of TEAC Corporation.