Onkyo Corporation
オンキヨー株式会社
Native name
オンキヨー株式会社
Onkyō Kabushiki-gaisha
TypePrivate
IndustryElectronics
FoundedOsaka, Japan September 17, 1946; 75 years ago (1946-09-17) as Osaka Denki Onkyo K.K
Headquarters,
Area served
Worldwide
Key people
Munenori Ohtsuki (Chairman, Representative Director, President)
Hiroshi Nakano (Vice President, Representative Director)
ProductsHi-fi and home theater Audio-Visual equipment, ICs, speaker units and related items
RevenueUS$492 million
OwnerOhtsuki family[1] (26.1%)
Pioneer Corporation[1] (13.3%)
Number of employees
1,814 (2016)
DivisionsIntegra Home Theater
Websiteonkyo.com

Onkyo Corporation (オンキヨー株式会社, Onkyō Kabushiki-gaisha) is a Japanese consumer electronics manufacturer,[2] specializing in premium home cinema and audio equipment, including AV receivers, surround sound speakers and portable devices. The word Onkyo translates as "sound resonance". On () is from Chinese pronunciation, with traditional Japanese pronunciation as Oto, meaning "the sound". Kyo () is also from Chinese pronunciation, pronounced as Hibiki (noun) or Hibiku (verb) in traditional Japanese, meaning "resound, sound, or echo". The company started under the name of Osaka Denki Onkyo K.K. in 1946 (a company not related to Nippon Denki Onkyo, which became Denon). The current Onkyo Corporation umbrella includes the Integra and Integra Research divisions as well as the main Onkyo brand.

In March 2015, Onkyo purchased Pioneer Corporation's Home Electronics Corporation, which produces home cinema amplifiers, Blu-ray players and other AV products. In return, Pioneer took a 14.95% stake in Onkyo. The Ohtsuki family remained the largest shareholders of the company with an approximately 26% stake,[1] just above Gibson Brands, with a 16.5% stake.[3]

With the bankruptcy of Gibson in 2018, Onkyo's shares held by Gibson were sold.[4]

In May 2021, Voxx International and Sharp Corporation began negotiations with Onkyo to purchase its home audiovisual division.[5] Voxx's subsidiary Premium Audio Company (PAC) entered a joint venture with Sharp to acquire the business, which includes the Onkyo and Integra brands, for $30.8 million. PAC would own 75% of the joint venture and Sharp 25%. PAC would manage all product development, engineering, sales, marketing, and distribution while Sharp would be responsible for manufacturing and supply chain management of Onkyo products. The acquisition was completed in September 2021.[6][7]

Onkyo was delisted from the Tokyo Stock Exchange in August 2021 due to the market's rules on negative net worth.[5][8]

On May 13, 2022, Onkyo announced that they were filing for bankruptcy.[9] Onkyo, Integra, Pioneer and Pioneer Elite branded products continue to be distributed by Premium Audio Company, through its 11 Trading Company subsidiary.[10]

Products

References

  1. ^ a b c "ONKYO CORPORATION : Shareholders Board Members Managers and Company Profile". MarketScreener.
  2. ^ "Our Brand". Onkyo. Archived from the original on 27 September 2016. Retrieved 25 September 2016.
  3. ^ Andy, Clough (2 March 2015). "Pioneer completes move to become a subsidiary of Onkyo". What Hi-Fi?.
  4. ^ Non-impact on the Onkyo Corporation by GIBSON BRANDS, INC. filing for bankruptcy procedures under Chapter 11 of the U.S. Federal Bankruptcy Code on Onkyo global, Osaka, 18 May 2018
  5. ^ a b Hirashima, Kento (2 May 2021). "Audio brand Onkyo weighs last-ditch sale of core business". Nikkei Asia. Retrieved 18 May 2022.
  6. ^ Nichols, Andrew (28 June 2021). "VOXX, Sharp Acquire Onkyo and Integra for $30.8M". CEPRO. Retrieved 18 May 2022.
  7. ^ Knott, Jason (9 September 2021). "VOXX, Sharp Complete Acquisition of Onkyo, Integra". CEPRO. Retrieved 18 May 2022.
  8. ^ Richards, David (15 May 2022). "Sound Company Onkyo Files For Bankruptcy". Channelnews. Retrieved 18 May 2022.
  9. ^ Hirashima, Kento (13 May 2022). "Classic Japanese audio brand Onkyo files for bankruptcy". Nikkei Asia. Retrieved 18 May 2022.
  10. ^ Archer, Robert (16 May 2022). "Premium Audio Company Issues Onkyo Bankruptcy Statement". CEPRO. Retrieved 18 May 2022.