Onkyo Corp Announces Restructuring of Subsidiaries

Onkyo Corp announced that it has decided to transfer the product design and technology related business of its wholly owned subsidiary, Onkyo Sound & Vision Corporation, which engaged in the planning, design, manufacturing and sale audio and visual related products, to a new wholly owned subsidiary of the Company, which will be established on July 2, 2012, effective July 2, 2012. After that, the Company will merge with Onkyo Sound & Vision Corporation and as a result, Onkyo Sound & Vision Corporation will be dissolved. In addition, the Company will also take over the sale related business of vehicle-mounted and consumer electronics business from another wholly owned subsidiary of the Company, Onkyo Development & Manufacturing Corporation, which engages in the design, manufacturing and sale of consumer electronics business, effective July 2, 2012.