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Business deals

Audio brand Onkyo in talks to sell cash-cow business to US buyer

Deal would put up to nearly 70% of Japanese group's sales on table

An Onkyo home theater. Home audio-visual equipment remains the Japanese company's only profitable segment. (Photo courtesy of Onkyo)

OSAKA -- Struggling Japanese electronics maker Onkyo said Wednesday it has entered into talks with U.S. peer Sound United to sell its home audio-visual business, a move that could unload operations responsible for nearly 70% of its sales.

Onkyo's home audio division includes amplifiers, high-end speakers and mini systems. While the company did not specify the extent of assets to be sold, core subsidiary Onkyo & Pioneer, formed after its 2015 purchase of Pioneer's audio business, will be considered.

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