ONKYO Corporation (JASDAQ:6628) entered onto an basic agreement to acquire Pioneer Home Electronics Corporation from Pioneer Corporation (TSE:6773) in stock on September 12, 2014. Pioneer Corporation will acquire 14.95% stake in Onkyo as consideration. Pioneer Home Electronics Corporation comprises of Pioneer Corporation's Home AV business, phone business, and headphone-related business. Upon completion of the deal, Pioneer Home Electronics Corporation will be amalgamated into ONKYO. Pioneer Home Electronics Corporation reported net assets of ¥8.5 billion, total assets of ¥4.8 billion, sales of ¥27.5 billion, operating loss of ¥2.2 billion and net loss of ¥2.6 billion for the year ending March 2014. Pioneer Corporation and Onkyo Corporation execute a definitive agreement on November 7, 2014. Transaction is subject to Japan Fair Trade Commission, relevant government, antitrust rules, directions and laws in other countries and is expected to be completed by March 2015.

ONKYO Corporation (JASDAQ:6628) completed the acquisition of Pioneer Home Electronics Corporation from Pioneer Corporation (TSE:6773) for ¥1.7 billion on March 2, 2015. Satoshi Matsumoto, Representative Director and President of Pioneer Home Electronics retired and Yoshiaki Idea retired.