Key Developments: Onkyo Corp (6628.T)

6628.T on Tokyo Stock Exchange

145JPY
19 Dec 2014
Price Change (% chg)

¥3 (+2.11%)
Prev Close
¥142
Open
¥142
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¥146
Day's Low
¥142
Volume
119,300
Avg. Vol
157,856
52-wk High
¥208
52-wk Low
¥99

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Latest Key Developments (Source: Significant Developments)

Onkyo Corp announces share issuance and shareholding change
Friday, 7 Nov 2014 02:15am EST 

Onkyo Corp:To issue new shares (14.95 pct voting rights) to Pioneer through private placement, with payment date on March 2, 2015.To raise 1,571,205,500 yen.Proceeds to be used to acquire business from Pioneer.Pioneer to hold 14.79 pct stake in the company after issuance.  Full Article

Onkyo Corp signs capital and business alliance agreement with Onkyo Corp and announces company acquisition and business transaction
Friday, 7 Nov 2014 02:15am EST 

Onkyo Corp:Signed a capital and business alliance agreement to integrate Pioneer Group’s home AV business, phone business and headphone-related business (Pioneer’s Business) and Onkyo’s AV business.To acquire all shares of Pioneer Home Electronics Corporation, a wholly-owned subsidiary of Pioneer, on March 2, 2015.Pioneer to transfer Pioneer’s Business operated by some of its overseas subsidiaries to the Onkyo Group, on March 2, 2015, to succeed Pioneer’s headphone-related business to PHE through an absorption-type company split.PHE and Onkyo to execute a company split agreement to succeed the AV business operated by Onkyo to PHE through an absorption-type company split, with effective date on July 1, 2015.  Full Article

PIONEER CORP announces Notice with Respect to Basic Agreement for the Integration of Pioneer’s Home AV Business and Onkyo
Friday, 12 Sep 2014 02:00am EDT 

PIONEER CORP:Pioneer Corporation and Onkyo Corporation executed a basic agreement to integrate Pioneer’s Home AV business, phone business and headphone-related business, with Onkyo, as follows.Says through the Basic Agreement, Pioneer and Onkyo agreed for Pioneer to acquire a minority stake in Onkyo, for Onkyo to acquire all the outstanding shares of Pioneer Home Electronics Corporation (“PHE”) which is a wholly-owned subsidiary of Pioneer, and for PHE and Onkyo to amalgamate.  Full Article

Onkyo Corp announces business and capital alliance with PIONEER CORP and Baring Private Equity Asia
Tuesday, 24 Jun 2014 02:00am EDT 

Onkyo Corp:Onkyo Corp, PIONEER CORP and Baring Private Equity Asia, a HongKong-based company, reached a basic agreement to commence discussions with an eye to integrating a part of Home AV business operations between Pioneer and Onkyo.Shares in Pioneer Home Electronics Corporation (hereinafter “PHE”), a wholly-owned subsidiary of Pioneer, will be transferred to Baring and Onkyo.After the transfer, Baring will have 51 pct stake in PHE and the remaining 49 pct will be determined in consultation between the related parties.  Full Article

Onkyo Corp expects extraordinary profit for FY 2015 and amends consolidated full-year outlook for FY 2015
Friday, 13 Jun 2014 05:00am EDT 

Onkyo Corp:Says it expects an extraordinary profit of 729 million yen as investment gain from sales of security in Teac for FY ending March 2015.Says the company reaffirmed the consolidated full-year outlook for revenue at 45,000 million yen for FY ending March 2015.Confirms the operating profit forecast at 800 million yen.Confirms the ordinary profit forecast at 500 million yen.Raises the net profit forecast to 1,070 million yen from 400 million yen.Raises the earnings per share to 17.26 yen from 6.45 yen.Comments that sales of security is the main reason for the forecast.  Full Article

Onkyo to sell shares in Teac Corp
Tuesday, 10 Jun 2014 02:00am EDT 

Onkyo Corp:To sell 26,038,000 shares in Teac Corp and cut voting power in Teac to 1.01 pct (2,894,000 shares) from 10.08 pct (28,932,000 shares).To become fourth biggest shareholder of Teac.  Full Article

Onkyo Corp announces business alliance with 7digital Limited
Thursday, 29 May 2014 09:00pm EDT 

Onkyo Corp:To sign a business and capital alliance with UK-based company 7digital Limited that is engaged in supply of music distribution platform and operation of music distribution site.Says to strengthen cooperation on the development of new services aimed at establishment of hi-res sound source distribution site of the company's brand.  Full Article

Onkyo Corp lowers consolidated full-year outlook for FY 2014
Friday, 2 May 2014 02:00am EDT 

Onkyo Corp:Says the company lowered the consolidated full-year outlook for revenue to 36,000 million yen from 40,000 million yen for the fiscal year ended March 2014.Sees a decrease of operating profit forecast to 280 million yen from 1,000 million yen.Sees a decrease of ordinary profit forecast to a loss of 470 million yen from 500 million yen.Sees a decrease of net profit forecast to a loss of 480 million yen from 400 million yen.Sees a decrease of earnings per share to a loss of 7.8 yen from 6.5 yen.Comments that sales decrease in Europe and America, as well as price decreases by stock disposal of old products and sales expenses increase are the main reasons for the forecast.  Full Article

Onkyo completes private placement to Imagination Technologies Group
Thursday, 27 Mar 2014 02:00am EDT 

Onkyo Corp:Completed issuance of 484,300 shares through private placement to Imagination Technologies Group, for 126.18 yen per share or 61,110,000 yen in total, on March 27.  Full Article

Onkyo Corp updates change on capital and business alliance with Teac
Wednesday, 26 Mar 2014 02:00am EDT 

Onkyo Corp:Disclosed changes regarding business and capital alliance with Teac.Teac to sell its holdings of 5,200,000 shares (8.4 pct stake) in Onkyo to Teac's parent company.  Full Article

Pioneer to sell home AV biz to Onkyo, take 14.95 percent stake in Onkyo

TOKYO - Pioneer Corp said on Friday it would sell its home audio-visual business to audio equipment maker Onkyo Corp , with a Hong Kong-based fund backing out of an initial proposal to take a majority stake.

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