JVC and Kenwood to merge
Electronics company’s Victor Co. of Japan (better known as JVC) and Kenwood have announced that they are merging to form JVC Kenwood Holdings.
JVC is best known for their home electronics and Kenwood for their car audio systems. The two plan to swap teams and hope to quadruple their operating profits within three years.
Victor shareholders will two shares of of the new company for each Victor share owned, while Kenwood shareholders will get one for one.
The joint holding company will be created on October 1st of this year.