A large Japanese company has just filed for bankruptcy. Onkyo, an audio equipment maker, cited $24 million in liabilities in its bankruptcy filing.
The company existed for 76 years after its establishment in 1946
The news reportedly came from Nikkei Asia and clarified that the company was unable to keep up with the pace of music listening today. The lack of adaptation to the way music is listened to would have led to the company’s demise.
The company lasted over 70 years and was established in 1946. During that time, the company was able to earn respect as a brand that audiophiles turn to.
Onkyo joined Sony and Pioneer in the 90s when tower-style component stereo systems became popular
The early use of AV receivers contributed to the company’s early success and the company even joined other Japanese brands in the 90s when they all gained popularity. Onkyo joined Sony and Pioneer when tower-type component stereo systems became popular and although among other audio giants, it can no longer keep pace.
According to Tech Spot history, there was a huge change that happened in the 200s. These included how people started using MP3s with Apple’s iPod becoming the one of the basic elements of audio equipment.
The company fell behind as the world adapted to smaller sound systems
Apple’s iPod was still discontinued, but now streaming music services like Spotify and others have started to pick up the slack. Smartphones have also played a huge role in making music more accessible to regular users.
Home stereo systems began to lose popularity as demand moved towards mobile solutions and soundbars. Instead of bulky, bulky home systems, the modern approach is to have a smaller system that still delivers a sufficient amount of high-quality sound.
Onkyo bought Pioneer’s Consumer Electronics division in 2025 in a bid to improve its business
Onkyo has tried to stay relevant in recent years by trying to release its own earphones and headphones trying to compete with other major players in the space. The company even bought Pioneer’s consumer electronics division in 2015 in a bid to improve its business, as WhatHiFi reports.
Tech Spot, however, noted that the company was still unable to achieve the success it wanted. There were fears of delisting the company from the Tokyo Stock Exchange in January 2021.
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Voxx International and Sharp Corporation could still use the Onkyo brand name
After discussions about delisting the company, Onkyo was later acquired by Voxx International and Sharp Corporation. A few months after discussions about delisting, the company was officially delisted from the stock exchange in August of the same year.
Despite its bankruptcy, Voxx and Sharp could still use the Onkyo brand name because they still own it.
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Written by Urian B.
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