Onkyo files bankruptcy in Japan

gilfredpaul

Active Member
Joined
Jun 7, 2012
Messages
161
Points
28
Location
Bangalore
Japanese audio equipment maker Onkyo Home Entertainment Corp. has filed for bankruptcy, with some 3.1 billion yen (about $24 million) in total liabilities, the company announced on May 13.

The firm, based in the Osaka Prefecture city of Higashiosaka, filed for the commencement of bankruptcy proceedings with the Osaka District Court and its petition was accepted, the company said.

Besides its Onkyo brand, the firm also has the "Pioneer" brand under its umbrella. Due to a decline in earnings, Onkyo had been struggling with cash management.

Source : https://mainichi.jp/english/articles/20220514/p2a/00m/0na/002000c
 

Subbu68

Well-Known Member
Joined
Mar 13, 2022
Messages
212
Points
63
Location
ABU DHABI, UAE
It is sad indeed


Wondering with their latest models launched, how would support continue? This is something that needs to be checked by end users soon.
Not sure. See the link. It appeared this morning in Facebook forum.

 

insane79

Well-Known Member
Joined
Feb 10, 2008
Messages
1,081
Points
113
Location
Bombay
Not sure. See the link. It appeared this morning in Facebook forum.

Yes, there are a lot of misleading information, Onkyo was bought by VOXX & Sharp few months ago, Sharp is manufacturing their Avrs now in their Malaysian plant, hope to see some good engineering & built quality from Sharp as i use to love their products & are still a dominate force in Japan.
 

grindstone

Member
Joined
Dec 18, 2021
Messages
52
Points
18
Location
GMT-6
I can't make sense of all the holding companies and licensing but only hope that these legendary concerns find a way. I feel for the employees during their times of uncertainty and stress. I did find a statement at klipsch for that piece of it.

 
Last edited:

vkalia

Active Member
Joined
Aug 19, 2013
Messages
161
Points
43
Location
Bangalore
If the Klipsch PR is to be believed (and there is no reason for it not to), then what has gotten bankrupt is the OG Onky company - however, this company no longer makes Onkyo receivers.

Onkyo receivers are made by PAC and are not affected by this.
 
Perfect for audiophiles wanting both excellent music quality and flexible operation.
Top