Pioneer mulls sale of AV business

Kyodo

Pioneer Corp. is considering selling its slumping audiovisual equipment business, faced with shrinking demand as consumers opt for online music and video distribution services, sources close to the matter said Thursday.

Funai Electric Co. is showing interest in buying the business because of the strength of the Pioneer brand overseas, banking sources said. Pioneer plans to focus on in-car equipment such as navigation systems.

Included in the possible sale are home electronics products such as stereo systems and Blu-ray disc players. The company plans to retain its disc jockey mixing-decks business, which retains solid profit margins.

Home-electronics sales for the year to March 2014 amounted to ¥108 billion, accounting for 20 percent of Pioneer’s overall sales, but its operating profit stood at only ¥100 million.

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