JVC Kenwood Buys Shinwa Company

JVC Kenwood Holdings Inc. <6632> said Friday it will buy Shinwa International Holdings Ltd., a major car audio and video component maker in Hong Kong.

The Japanese audio and video equipment maker plans to make a full entry into China by using distribution channels of Shinwa, which has more than 50 pct of the Chinese market. The deal is estimated to be worth several billion yen.

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