Yokohama, Japan – JVC
Kenwood Holdings, formed by the recent merger of JVC and Kenwood, will
raise as much as 18.6 billion yen ($200 million) in a warrant sale to Nomura
Securities, according to a filing with Japan’s finance ministry, said
Bloomberg.
JVC Holdings will
use the funds for capital spending and research for its auto-electronics
business and to pay off debt, the filing said.
JVC Kenwood
Holdings officially formed last October with its first priority to build up its
sales in OEM and aftermarket car electronics, it stated. The publicly traded
company wholly owns JVC and Kenwood.
