As part of its corporate goal to meet the demands of a changing marketplace, Onkyo today announced a strategic alliance with TEAC.
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.