Onkyo and TEAC are in the capital and business tie-up, joint development of products / services

Onkyo and TEAC are in the capital and business tie-up,
joint development of products / services.

Onkyo obtain 10% of the shares outstanding of TEAC.

Acquisition is expected toamount to about ¥ 1 billion, while TEAC obtain third-party allotment of new sharesissued by Onkyo.

The acquisition amount of shares is \699.9 million.
This makes TEAC to keep 9.42% the shares outstanding in Onkyo.

The reason for the capital and business tie-up is that it could complement each other, bringing sales channel, brand power, technological and production strength.