Victor and Kenwood said Monday that they plan to become one company by October 1 this year.
The two Japanese audio equipment makers will combine to form JVC Kenwood Holdings, which will be based in Yokohama, near Tokyo. Victor, a subsidiary of electronics giant Matsushita, is best known for its JVC brand. Under the agreement, Kenwood Chairman Haruho Kawahara will become the holding company's chairman, while Victor President Kunihiko Sato will become the new company's president.
It came in fits and starts, but the two have finally settled on a merger agreement. It was first discussed last year, … Read more