Baring Private Equity Asia and ONKYO Corporation signed a basic agreement to acquire an unknown majority stake in Pioneer Home Electronics Corporation from Pioneer Corporation.

Onkyo Home Entertainment Corp is a Japan-based company mainly engaged in the audiovisual (AV) business, the digital life business, and the original equipment manufacturer (OEM) business. The Company operates through three business segments. The AV segment is engaged in the production and sale of audio and visual related products. The Digital Life segment is engaged in the provision of telephones and headphones, as well as music distribution content and meal training applications. The OEM segment is engaged in the production and sale of automotive speakers, home appliance speakers, speaker parts and amplifiers, as well as the provision of customer support and repair services. The Company is also engaged in the provision of personal computers (PCs) and other information technology (IT) related services.