jvc and kenwood

 

The biggest suppliers of technology Victor Co. of Japan (JVC) and Kenwood Corp. announced their decision to establish a holding company which will undertake the production of audio electronics for cars and homes. The company called the JVC Kenwood Holdings. The leaders hoped uchetverit total operating revenue in three years. Joining starting October 1.

This decision is the fruit of long reflection managers. The need for consolidation explains the growing competition in the Japanese consumer electronics market. Korean and Chinese manufacturers offer their devices on a much lower price, and investment spending has steadily increased. In such a situation from JVC and Kenwood, there was simply no other choice. To date, the total value of the assets of these companies is ¥ 150 billion ($ 1.44 billion).

Last year, total revenue Victor and Kenwood totaled $ 92.5 million By the end of March 2011 JVC Kenwood Holdings expects operating revenue of $ 375.9 million.