Tokyo, June 27, 2008 (Jiji Press) - Audio equipment makers Kenwood Corp. <6765> and Victor Co. of Japan <6792> obtained approval for their planned business integration at their respective general shareholder meetings on Friday.
The two firms will set up a joint holding company, called JVC Kenwood Holdings Inc., on Oct. 1.
Operating under the holding company, Kenwood and JVC will jointly develop some products while streamlining their operations through cost cuts and other measures.
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Shareholders Approve Kenwood-JVC Integration
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JVC, Kenwood Agree to Integrate Operations on Oct. 1
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Kenwood Cuts FY '07 Earnings Estimates on Yen Rise
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