History
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%, and 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]
