The plastic world won in this country too.
Not so long ago, not so long ago, notorious audiophiles in Japanese settlements were ready not only to equip separate rooms for listening to records from vinyl records, but also to spend a lot of money on improving the power supply parameters of their homes, since even the slightest current ripples are considered by them as a source of distortion for clear sound. And yet, as explained Nikkei Asian Reviewthere will be one less big-name brand in Japan as Onkyo filed for bankruptcy.
Image Source: Nikkei Asian Review
To be more precise, the trademark itself may be preserved, since the rights to use it have been transferred to a joint venture between the Japanese Sharp and the American Voxx International, but it will no longer have any relation to Onkyo founded in 1946. Back in January 2021, the company tried to cover growing debts by raising funds from investors, but it was not possible to raise the amount necessary to save the business. By the spring of this year, Onkyo had to leave the Tokyo Stock Exchange, and the bulk of its assets were sold back in September last.
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The already mentioned Sharp and Voxx International will manage Onkyo’s audio and video equipment business, and some investment fund will be in charge of the headphone production, although not the fact that under the previous brand name. As elsewhere in the world, demand for classic acoustic equipment has fallen in Japan as most consumers are ready to use smartphones and streaming services to listen to music.