Taiwan's Innolux unit buys former Japanese TV major Pioneer for $1.1 billion
TAIPEI: CarUX, a
smart cockpit solutions
provider and a subsidiary of Taiwan's display maker
Innolux
Corp, said on Thursday it will acquire Japan's
Pioneer Corporation
in a deal valued at 163.6 billion yen (around $1.1 billion).
Pioneer was once a major Japanese player in consumer electronics, whose decline presaged the broader industry shake-up to come as Japanese manufacturers were unable to keep with larger, more efficient producers like South Korea's Samsung Electronics.
CarUX said it has signed a definitive agreement with EQT, a global investment firm, to acquire a 100% stake in the Japanese electronics company.
The deal is expected to increase CarUX's presence in the Asia-Pacific region and broaden its global product portfolio by combining its display and touch technology expertise with Pioneer's strengths in automotive sound system and
Human Machine Interface
(HMI) software development, the company said in a statement.
"This acquisition brings strategic synergies for both CarUX and Pioneer," Innolux and CarUX Chairman Jim Hung said in a statement.
CarUX said in March that it is planning a listing in the United States.
Pioneer has long-standing partnerships with major Japanese and global automakers, including Toyota.
Its president and CEO, Shiro Yahara, said it looks forward to collaborating with CarUX to "create the future of mobility experiences".
Hung added at a press conference that Pioneer generated revenue of 240 billion yen in the fiscal year ending March 2024 and maintains a healthy financial structure, which is one of the key factors enabling the deal.
Pioneer launched the world's first plasma TV in 1997 and briefly found success in the high-end segment.
Pioneer was acquired in 2018 by Baring Private Equity Asia in a deal for $900 million, leading to its delisting from the Tokyo Stock Exchange. Baring was later acquired by Sweden-based EQT AB in 2022.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
44 minutes ago
- New Indian Express
A Sari State of Affairs
Aradhana Anand always loved Indian textiles. While furnishing her apartment, she experimented with mixing and matching silk saris to upholster a wingback chair. A combination of cotton ikat saris made for perfect fabric blinds. The result—limón, the Delhi-based custom-design studio for furniture and furnishings. The store a sari sight: five standard chairs—the wingchair, accent, club chair and low slipper chair upholstered mainly with saris. limón purveys sari cushion covers, sari-centric art frames, and sari lamp shades too. Each piece takes 4-10 weeks to create by using combinations of saris, sourced from state operated handloom emporiums and co-ops that support weavers, and sometimes directly from the weavers. A recent limited-edition collection called Rasa was made in collaboration with artist Shweta Malhotra that focuses on motifs of Indian spices, screen printed by hand on cotton canvas. 'We educate our clients about what they can do with fabric and saris they no longer wear,' Anand says.
Hindustan Times
an hour ago
- Hindustan Times
Haryana: Wheat yield up by 30% in last decade: Data
The wheat yield per hectare (Ha) in the country grew from 2,750 kgs during 2014-15 rabi season to 3,587 kgs in 2024-25, which is nearly a 30% increase, the Karnal-based ICAR-Indian Institute of Wheat and Barley Research (IIWBR) said. Accordingly, the wheat yield stood at 3,587 Kg/Ha for this season, recording a mild increase from 3,559 kg/Ha from last year, while annual production also rose from 113.29 million tonnes (MT) in 2023-24 to 117.51 MT this season. (HT File) Wheat scientists said that yield refers to the amount of crop produced per unit of land area, typically measured in kilograms or tonnes per hectare. Yield is considered a key indicator for agricultural productivity and quality of land, reflecting how much crop is produced from a particular area, they said. Accordingly, the wheat yield stood at 3,587 Kg/Ha for this season, recording a mild increase from 3,559 kg/Ha from last year, while annual production also rose from 113.29 million tonnes (MT) in 2023-24 to 117.51 MT this season. The data was prepared according to the third estimate figures by the union ministry of agriculture and farmers welfare released last month. The ministry is likely to release fourth and final estimate by end of July or August, the scientists said. Figures shared by IIWBR, also showed that the country witnessed a 36% rise in annual production from 86.52 MT in 2014-15 to 117.51 MT in a decade's time, while also recording an increase in area under wheat from 314.6 lakh hectares to 327.6 lakh hectares during the period. During the last season, the area under wheat was 318.33 lakh hectares. Wheat production more than target As per the figures of the third estimate, the wheat production achieved this year so far (117.51 MT) is slightly above than the target of 115 MT. This is an all-time high in the history of wheat production in India. India is the world's second-largest wheat grower after China. During an interaction with Hindustan Times, IIWBR director Ratan Tiwari highlighted that the deployment of climate resilient seed varieties and assured price on crop are primary reasons behind this record. 'DBW187, DBW303, DBW222, HI1634 and HD3386 were the top breeder seed indented varieties distributed by the institute to the farmers in the country. We consider DBW187 as a mega variety or pan-India variety. Better reach for the seeds is also the reason there has been a whooping rise in wheat yield in the last one decade,' he said. 'Moreover, there is a growing awareness among the farmers about changing weather patterns and they are shifting more to new heat-tolerant varieties. I believe that despite temperature fluctuation during the early months of this year, there was no fall in productivity, because of these seed varieties. Also, no disease and crop lodging also helped in achieving this. The grain quality also appears good,' he added.
Time of India
an hour ago
- Time of India
Torrent, JB Chem Finalising Steps for Two-stage Merger
Synopsis Torrent Pharmaceuticals and JB Chemicals & Pharmaceuticals are working with advisers to firm up the terms for their merger as part of a two-stage transaction, involving the former first buying out US-based private equity firm KKR's stake in JB in a cash deal, said people familiar with the development.
