JVC Kenwood To Raise $200M - Twice

JVC Kenwood To Raise $200M

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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.

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