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Pioneer DJ Sold To KKR

...a stake of nearly 15% in the DJ equipment business, which will keep Pioneer’s brand name. Management states the business is successful, with a global market share of more than 60% and profit margins of 20%.
“KKR will work with Pioneer DJ’s management team, employees, and our investment partner Pioneer to support the long-term growth of the business,” said Hirofumi Hirano, KKR Japan’s chief executive officer.

Pioneer is selling the DJ business to focus on its automotive electronics division, which makes GPS devices and audio systems. For the year ended March 31, 2014, the company posted net income of $105 million (USD) on revenues of $4.8 billion. The automotive electronics division accounted for 68% of total company revenues, with sales of $3.31 billion in 2014. It was also the company’s most profitable division. Revenues from the DJ products operation are lumped together with a diverse group of products including factory automation, healthcare products, and bicycle products, under the heading “Other Products.”

“Our business selling DJ equipment would have required large amounts of investment to continue to grow, and we can’t afford to invest in it while also seeking to grow our in-car electronics operations,” Pioneer President Susumu Kotani said at a media briefing. A week earlier, Pioneer also signed a deal to sell its home audiovisual equipment business to domestic rival Onkyo Corp., which is affiliated with Gibson Brands.

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