Pioneer would become the third largest shareholder of Onkyo Corporation.

It would also integrate its home AV business, including phone and headphone-related businesses, with Onkyo Corporation, effective 2 March 2015.

In Australia, Pioneer’s Home AV Business was transferred to Onkyo Corporation. Now, both parties have announced the appointment of Powermove Distribution as that new Australian distributor of Pioneer branded AV and headphone products.

Effective immediately, Powermove will assume control of all contracts and inventory, directly related to Pioneer Australia’s Home AV and Headphone Business.

Under a new global direction set by Japan, Pioneer Australia will now refocus and re-energise every aspect of the business, including the company’s product portfolio, operations and distribution.

The company will continue to support and embrace its Car Electronics and DJ businesses, as well as look to grow its new Cycling Sports division.

“While we remain realistic about the challenges that lie ahead, we’ve already taken critical steps towards carving out a new, prosperous chapter in Pioneer’s 50 year Australian history,” says Masaki Takahashi, managing director of Pioneer Electronics Australia Pty Ltd.