News Center
Message from Representative Director regarding the Transition to a Holding Company Structure through Company Split and Change of Trade Name
2023-3-31
FUNAI ELECTRIC CO., LTD.
Funai Electric Co., Ltd. (the “Company”) has completed the transition to a holding company structure and change of trade name today.
Representative Director Tomokazu Ueda is pleased to share the following message regarding this change.
■Message from Representative Diretor Tomokazu Ueda
Funai Electric Co., Ltd. has completed the transition to a holding company structure effective March 31, 2023.
The purpose of this transition is to achieve sustainable growth and further development of the Group’s business by increasing the agility of management.
The Company has celebrated the 60th anniversary of its founding in 2021.
Throughout its history, the Company has delivered reasonably priced, high-quality digital consumer electronics to the market. The Company has also globalized its business from an early stage, developing markets in regions such as North America, particularly in the area of liquid crystal television, which is the Company’s main business.
However, we currently face an extremely challenging business environment as exemplified by the rapid rise of Chinese TV manufacturers in the market. On the other hand, waves of digitalization are rapidly spreading and advancing not only to products, but also to our businesses and lifestyles, bringing about a significant change in social structure.
In order for the Company to survive in such a challenging environment, it is essential to strengthen its marketing and development capabilities to be able to always identify and satisfy the needs and requirements of customers, while developing new markets through new business start-ups both within and outside the electronics industry. To accomplish this, it is also indispensable for the Company to promote alliances with leading companies with excellent technologies, funds, human resources, and/or planning ability, rather than depending exclusively on its own management resources.
In response to these changes in business environment, the Company has transitioned to a holding company structure by dividing itself into two companies: a holding company and an operating company.
The name of the holding company is FUNAI ELECTRIC HOLDINGS CO., LTD., under which the current Funai Electric Co., Ltd. is positioned as an operating company to continue its business operations as before.
Following the delisting in August 2021, the Company is currently in a stage of working to improve the profitability of the whole Group and enhance its corporate value by implementing a transformation to a diversified business structure from a previous business structure that depended solely on AV businesses focusing mainly on liquid crystal televisions. Leveraging the advantages of an unlisted company, we will make quick decisions and work to transform our business structure by promoting corporate acquisitions of and business alliances with companies both within and outside the industry. At the same time, we will proceed with the transformation of management structure through the transition to a holding company structure in order to formulate a management strategy that is specifically intended to generate synergy within the Funai Electronic Group.
Representative Director Tomokazu Ueda is pleased to share the following message regarding this change.
■Message from Representative Diretor Tomokazu Ueda
Funai Electric Co., Ltd. has completed the transition to a holding company structure effective March 31, 2023.
The purpose of this transition is to achieve sustainable growth and further development of the Group’s business by increasing the agility of management.
The Company has celebrated the 60th anniversary of its founding in 2021.
Throughout its history, the Company has delivered reasonably priced, high-quality digital consumer electronics to the market. The Company has also globalized its business from an early stage, developing markets in regions such as North America, particularly in the area of liquid crystal television, which is the Company’s main business.
However, we currently face an extremely challenging business environment as exemplified by the rapid rise of Chinese TV manufacturers in the market. On the other hand, waves of digitalization are rapidly spreading and advancing not only to products, but also to our businesses and lifestyles, bringing about a significant change in social structure.
In order for the Company to survive in such a challenging environment, it is essential to strengthen its marketing and development capabilities to be able to always identify and satisfy the needs and requirements of customers, while developing new markets through new business start-ups both within and outside the electronics industry. To accomplish this, it is also indispensable for the Company to promote alliances with leading companies with excellent technologies, funds, human resources, and/or planning ability, rather than depending exclusively on its own management resources.
In response to these changes in business environment, the Company has transitioned to a holding company structure by dividing itself into two companies: a holding company and an operating company.
The name of the holding company is FUNAI ELECTRIC HOLDINGS CO., LTD., under which the current Funai Electric Co., Ltd. is positioned as an operating company to continue its business operations as before.
Following the delisting in August 2021, the Company is currently in a stage of working to improve the profitability of the whole Group and enhance its corporate value by implementing a transformation to a diversified business structure from a previous business structure that depended solely on AV businesses focusing mainly on liquid crystal televisions. Leveraging the advantages of an unlisted company, we will make quick decisions and work to transform our business structure by promoting corporate acquisitions of and business alliances with companies both within and outside the industry. At the same time, we will proceed with the transformation of management structure through the transition to a holding company structure in order to formulate a management strategy that is specifically intended to generate synergy within the Funai Electronic Group.