The Japanese corporation Onkyo Corporation manufactures a number of high-end audio and home entertainment products, including surround-sound speakers, AV receivers, and premium portable devices. In March 2015, Pioneer Corporation sold The Home Electronics Corporation to Onkyo. This company produces home theater amplifiers, Blu-ray players, and other AV equipment. In exchange, Onkyo gave Pioneer a 14.95 percent ownership stake in the company. The Ohtsuki family outperformed Gibson Brands, which held a 16.5% stake in the company, with a 26% ownership stake.
Voxx International and Sharp Corporation started negotiating with Onkyo in May 2021 to buy the company’s home audiovisual segment. The business, which comprises the Onkyo and Integra brands, was purchased by Voxx’s subsidiary Premium Audio Company (PAC) in a joint venture with Sharp for $30.8 million, the assumption of some debt, and the payment of future commissions to Onkyo. The joint venture would be 75% owned by PAC and 25% by Sharp. Sharp would oversee Onkyo product manufacturing and supply chain management, while PAC would oversee all product development, engineering, sales, marketing, and distribution. September 2021 saw the completion of the transaction.
In August 2021, Onkyo was delisted from the Tokyo Stock Exchange due to the market’s regulations regarding negative net worth.
Onkyo declared bankruptcy on May 13, 2022. Products under the Onkyo, Integra, Pioneer, and Pioneer Elite brands are still sold by PAC through its 11 Trading Company subsidiary. The remaining Onkyo assets were eventually acquired by PAC and Sharp two months later.