Onkyo is hooking up with....TEAC

01/26/12 - Osaka, Japan, January 20, 2012 -- As part of its corporate goal to enhance shareholder value and meet the demands of a changing marketplace, Onkyo Corporation, a worldwide leader in consumer audio, today announced a strategic alliance with TEAC Corporation, a global electronics manufacturer. The alliance between Onkyo and TEAC is particularly synergistic in that both companies share a commitment to excellence and a passion for engineering, designing, manufacturing and marketing products that deliver high value and exceed customer?s expectations.

Through this strategic alliance Onkyo and TEAC will acquire shares of each other?s stock. The companies are exploring ways to share manufacturing facilities, logistic centers and research & development resources. Onkyo President, Munenori Otsuki, stated that the alliance with TEAC offers unique opportunities to both companies to leverage each other?s considerable strengths to provide innovative life changing products to its customers. TEAC President, Yuji Hanabusa stated that strategic alliance of Onkyo and TEAC will make both companies more competitive in an ever changing market.