JVC and Kenwood to team up

Europe News.Net
Sunday 11th May, 2008

The JVC company in Japan will merge with Kenwood Corp on October 1st.

The two companies are still working out details of their holding company plan and will seek shareholder approval at their respective general shareholders meetings in late June.

JVC and Kenwood will be controlled by a holding company, which is expected to appoint Kenwood Chairman Haruo Kawahara as chairman, while JVC President Kunihiko Sato will become president.

The JVC and Kenwood brands will be kept after combined sales for the year ended March 31st came to around US$8 billion.

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