The TEAC Corporation has announced a strategic alliance with the Japanese Onkyo Corporation, described as ‘particularly synergistic in that both companies share a commitment to excellence and a passion for engineering, designing and manufacturing products that deliver value and exceed customer’s expectations’.
Under the alliance, TEAC and Onkyo will acquire shares of each other’s stock.
The companies are presently exploring ways to share manufacturing facilities, logistic centres and R&D resources. Accompanying the announcement, TEAC President Yuji Hanabusa stated that strategic alliance will ‘make both companies more competitive in an ever-changing market’. Onkyo President, Munenori Otsuki, added that the alliance with TEAC ‘offers unique opportunities to both companies to leverage each other’s considerable strengths to provide innovative life changing products to its customers’.
More: www.teac.co.jp
More: www.onkyo.com
