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Onkyo

From Wikipedia, the free encyclopedia
For music, see Onkyokei.

Onkyo Corporation
オンキヨー株式会社
Native name
オンキヨー株式会社
Onkyō Kabushiki-gaisha
Company typeJoint venture
IndustryElectronics
FoundedOsaka, Japan September 17, 1946; 78 years ago (1946-09-17) as Osaka Denki Onkyo K.K
Headquarters
Osaka
,
Japan
Area served
Worldwide
Key people
Munenori Ohtsuki (Chairman, Representative Director, President)
Hiroshi Nakano (Vice President, Representative Director)
ProductsHi-fi and home theater Audio-Visual equipment, ICs, speaker units and related items
RevenueUS$492 million
OwnerPremium Audio Company (Voxx International) (75%)
Sharp Corporation (25%)
Number of employees
1,814 (2016)
DivisionsIntegra Home Theater
Websiteonkyo.com

Onkyo Corporation (オンキヨー株式会社, Onkyō Kabushiki-gaisha) is a Japanese consumer electronics company,[1] specializing in premium home cinema and audio equipment, including AV receivers, surround sound speakers and portable devices. The company started under the name of Osaka Denki Onkyo K.K. in 1946 (a company not related to Nippon Denki Onkyo, which became Denon). The company's umbrella included Integra and Integra Research divisions as well as the main Onkyo brand. It became Onkyo Home Entertainment Corporation after purchasing Pioneer Corporation. The company became bankrupt in 2022; the Onkyo brand now does business under joint ownership by Sharp Corporation and Voxx International.[2]

Name

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The word Onkyo translates as "sound resonance". On (音) is from Chinese pronunciation, with traditional Japanese pronunciation as Oto, meaning "sound". Kyo (響) is also from Chinese pronunciation, pronounced as Hibiki (noun) or Hibiku (verb) in traditional Japanese, meaning "resound, sound, or echo".

History

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Onkyo was founded by Takeshi Goda in 1946 while he worked in sound at Matsushita Electric.[3] It was renamed Osaka Onkyo in 1947. The company name changed from Osaka Onkyo K.K. to Onkyo Corporation in 1971.[4]

The Integra amplifier series was introduced in 1969.[4] In 1993, Onkyo acquired Lucasfilm's THX certification and then launched the first ever THX-certified AV consumer receiver.[4]

In March 2015, Onkyo purchased Pioneer Corporation's Home Electronics Corporation, which produces home cinema amplifiers, Blu-ray players and other AV products. In return, Pioneer took a 14.95% stake in Onkyo. The Ohtsuki family remained the largest shareholders of the company with an approximately 26% stake,[5] just above Gibson Brands, with a 16.5% stake.[6]

With the bankruptcy of Gibson in 2018, Onkyo's shares held by Gibson were sold.[7]

In May 2021, Voxx International and Sharp Corporation began negotiations with Onkyo to purchase its home audiovisual division.[8] Voxx's subsidiary Premium Audio Company (PAC) entered a joint venture with Sharp to acquire the business, which includes the Onkyo and Integra brands, for $30.8 million and the assumption of certain debt plus payment of commissions to Onkyo in future. PAC would own 75% of the joint venture and Sharp 25%. PAC would manage all product development, engineering, sales, marketing, and distribution while Sharp would be responsible for manufacturing and supply chain management of Onkyo products. The acquisition was completed in September 2021.[9][10]

Onkyo was delisted from the Tokyo Stock Exchange in August 2021 due to the market's rules on negative net worth.[8][11]

On May 13, 2022, Onkyo announced that it was filing for bankruptcy.[12] Onkyo, Integra, Pioneer and Pioneer Elite branded products continue to be distributed by PAC via its 11 Trading Company subsidiary.[13] A professor noted in The Asahi Shimbun that Onkyo prioritized its manufacturing quality to the detriment of its adaptability to market conditions, with the advent of the smartphone killing off the middle segment of the hi-fi market.[14] PAC and Sharp subsequently bought the remaining assets of Onkyo two months later.[15]

Products

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  • Onkyo Wavio SE-80PCI PC sound card
    Onkyo Wavio SE-80PCI PC sound card
  • Onkyo DX7210 CD player
    Onkyo DX7210 CD player
  • Onkyo TX-NR414 5.1 surround sound AV receiver
    Onkyo TX-NR414 5.1 surround sound AV receiver
  • Onkyo T-411RDS tuner
    Onkyo T-411RDS tuner

References

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  1. ^ "Our Brand". Onkyo. Archived from the original on 27 September 2016. Retrieved 25 September 2016.
  2. ^ "Onkyo is set to return to Europe this autumn, with Sharp taking on all the brand's manufacturing". 15 July 2022.
  3. ^ "菅野沖彦 ピュアオーディオへの誘い - PHILE WEB". www.phileweb.com. Retrieved 8 August 2023.
  4. ^ a b c "ONKYO 70th ANNIVERSARY Website". ONKYO 70th ANNIVERSARY Website. Retrieved 8 August 2023.
  5. ^ "ONKYO CORPORATION : Shareholders Board Members Managers and Company Profile". MarketScreener.
  6. ^ Andy, Clough (2 March 2015). "Pioneer completes move to become a subsidiary of Onkyo". What Hi-Fi?.
  7. ^ Non-impact on the Onkyo Corporation by GIBSON BRANDS, INC. filing for bankruptcy procedures under Chapter 11 of the U.S. Federal Bankruptcy Code Archived 25 August 2019 at the Wayback Machine on Onkyo global, Osaka, 18 May 2018
  8. ^ a b Hirashima, Kento (2 May 2021). "Audio brand Onkyo weighs last-ditch sale of core business". Nikkei Asia. Retrieved 18 May 2022.
  9. ^ Nichols, Andrew (28 June 2021). "VOXX, Sharp Acquire Onkyo and Integra for $30.8M". CEPRO. Retrieved 18 May 2022.
  10. ^ Knott, Jason (9 September 2021). "VOXX, Sharp Complete Acquisition of Onkyo, Integra". CEPRO. Retrieved 18 May 2022.
  11. ^ Richards, David (15 May 2022). "Sound Company Onkyo Files For Bankruptcy". Channelnews. Retrieved 18 May 2022.
  12. ^ Hirashima, Kento (13 May 2022). "Classic Japanese audio brand Onkyo files for bankruptcy". Nikkei Asia. Retrieved 18 May 2022.
  13. ^ Archer, Robert (16 May 2022). "Premium Audio Company Issues Onkyo Bankruptcy Statement". CEPRO. Retrieved 18 May 2022.
  14. ^ Jozuka, Ryo (17 July 2022). "Onkyo's decline a cautionary tale for Japanese manufacturers". The Asahi Shimbun. Retrieved 6 July 2024.
  15. ^ Stone, Mary (15 July 2022). "Onkyo is set to return to Europe this autumn, with Sharp taking on all the brand's manufacturing". What Hi-Fi?. Archived from the original on 15 July 2022. Retrieved 24 September 2022.
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