By Martin Vedris
SYDNEY: As previously reported on Current.com.au in February this year, and in spite of recent media reports and recurrent rumours, Kenwood has not announced a bid for a share of Victor Co of Japan Ltd, which manufactures JVC products.
This is despite an overnight media reports that shares of Victor Co. of Japan, or JVC, rose 2.3% after the Nikkei business daily reported on Saturday that Kenwood Corp. has agreed to integrate with JVC under a holding company.
Both Kenwood and JVC in Japan have denied the reports.
A representative from Hagemeyer Brands, the distributor of JVC in Australia, has confirmed that there has been no change to the local business.
“We have had no effect on Hagemeyer and Australian JVC operations and it is business as usual as we are in the planning stages of the busiest time of the year for the appliance industry," JVC Australia brand manager, Susan Rogic, told Current.com.au.
Kenwood Electronics Australia declined to comment.