[IRCA] Kenwood Purported to Merge with JVC in 2008

["Joe Miller, AB8YP" <ab8yp@xxxxxxxxx>]

==> Kenwood Purported to Merge with JVC in 2008 

A consumer electronic magazine, This Week in Consumer
Electronics (TWICE), reports that Kenwood has agreed 
to merge in 2008 with Victor Company of Japan (JVC)
under a holding company. JVC is owned by Matsushita 
Electric Industrial Company. Japan's Nikkei business
newspaper reports that the final details should be
worked out by the end of the month, and that under
the plan, Kenwood will buy 20 billion
yen($161,469,466) in JVC shares as early as this
summer, 
raising its stake to 13 percent. Matsushita will also 
sell part of its 52.7 percent of JVC to Kenwood's top 
shareholder, the Sparx Group. When JVC and Kenwood
integrate operations under the holding company in
2008, Matsushita will sell the rest of its JVC shares 
to the holding company to complete the transaction. 
The holding company's stock will be listed instead of
Kenwood and JVC, according to Nikkei. Combined,
Kenwood's and JVC's sales are $7.3 billion dollars 
annually for their fiscal year that ended March 31.

Source: ARRL weekly newsletter


 
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