As part of its corporate goal to enhance shareholder value and meet the demands of a changing marketplace, TEAC Corp. has come together in a strategic alliance with Onkyo Corp. The alliance between Onkyo and TEAC is synergistic in that both companies share a commitment to excellence and a passion for engineering, designing and manufacturing products. Through this alliance, TEAC and Onkyo will acquire shares of each other’s stock. The companies are exploring ways to share manufacturing facilities, logistic centers, and research and development resources.
TEAC President Yuji Hanabusa stated that the strategic alliance of Onkyo and TEAC will make both companies more competitive in an ever-changing market. 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 products to their customers.