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Business deals

Pioneer to slide under Hong Kong fund's umbrella and delist

Japanese company to cut workforce 15% as auto sector pressures take toll

Pioneer President Koichi Moriya, left, and Baring Private Equity Asia CEO Jean Eric Salata speak to reporters in Tokyo. (Photo by Karina Noka)
Pioneer President Koichi Moriya, left, and Baring Private Equity Asia CEO Jean Eric Salata speak to reporters in Tokyo. (Photo by Karina Noka)

TOKYO -- Ailing car navigation system maker Pioneer intends to seek a turnaround under a Hong Kong investment fund, as auto sector players scurry to adapt to technological changes sweeping the industry.

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