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YAMAHA CORPORATION and U.S.-Based High-End Speaker
Manufacturer Klipsch Audio Technologies Forge Product
Development and Sales Alliance
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Leading U.S.-based high-end speaker manufacturer Klipsch Audio Technologies (referred to hereinafter as “Klipsch”; Headquarters: Indianapolis, Indiana, the United States; Chairman and CEO: Fred S. Klipsch; ) and YAMAHA CORPORATION (Headquarters: Hamamatsu, Shizuoka; President and Representative Director: Shuji Ito) entered into a basic agreement regarding the joint development of speakers and home theater systems, and the sale of Klipsch products in Japan by Yamaha under an exclusive distributor contract.
Founded in 1946, Klipsch is one of the longest-established North American loudspeaker manufacturers. The company and its employees are committed to developing products that create the most engaging, emotional and dynamic entertainment experiences. Klipsch is the number one speaker brand in the United States with 12.1 percent overall market share (Source: NPD Techworld Jan.-Jun 2004) and an estimated 50 percent share of the professional movie theater market not only in the United States but also in Mexico and other countries in Central America and South America. In addition, Klipsch speakers are the official speakers of the famous theme restaurant entertainment conglomerate Hard Rock Cafe international, and the best-selling Reference series of speakers—a core product—enjoy an excellent reputation at audio specialty stores throughout the United States.
“Klipsch and Yamaha share a vision for delivering the widest range of the highest quality audio products,” said Chairman and Owner Fred Klipsch. “Our partnership with Yamaha reaches far beyond distribution. Together we will leverage the strengths of both brands to enter new markets and develop new products across multiple categories.”
Yamaha is a leading brand in home theater products in Japan and overseas. Through the alliance with Klipsch, Yamaha aims to achieve further growth in its home theater business and expand its AV/IT segment to include movie theater speakers as well as in-wall and other speakers that blend into the living space—products not currently offered under the Yamaha brand.
Sales of Klipsch products in Japan will be handled by Yamaha’s wholly owned domestic sales subsidiary for AV/IT products—Yamaha Electronics Marketing Corporation (Headquarters: Takanawa, Minato-ku, Tokyo; President: Fumio Nakayama). Yamaha will work to leverage the originality and strength of Klipsch products to grow and expand its home theater business as well as to develop custom installation products that blend into the living environment and the commercial business-use sound system market.
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Notes
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| 1. Overview of the business alliance |
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| a. |
Sale of Klipsch products in Japan
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Medium-term sales target: |
¥1 billion
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Start of sales: |
November 2004
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Major product lineup: |
Reference series, Pro Media series, Architecture series, Professional Cinema series
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| b. |
Joint development
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Joint development of home theater speakers for the Japanese market
Joint development of home theater systems for the global market
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| c. |
Sales Alliance in the global market
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Sales of Yamaha AV receivers with Klipsch speakers in the global market
Sales collaboration for digital mini theater business on a worldwide basis
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| 2. Overview of Klipsch Audio Technologies |
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| Website: |
www.klipsch.com
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| Chairman and CEO: |
Fred S. Klipsch
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| Headquarters: |
Indianapolis, Indiana, United States
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| Employees: |
300
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| Established: |
1946
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| 3. Overview of YAMAHA CORPORATION |
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| President and Representative Director: |
Shuji Ito
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| Headquarters: |
10-1, Nakazawa-cho, Hamamatsu, Shizuoka, Japan
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| Consolidated Sales (Fiscal year ended March 31, 2004): |
¥539.5 billion (AV/IT segment: ¥78.3 billion)
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For further information, please contact
Yamaha Corporation
Public & Investor Relations Group,
Public Relations Division
Mr. Mike Tanaka (misao_tanaka@gmx.yamaha.com)
TEL. +81-3-5488-6601
FAX. +81-3-5488-5060
KLIPSCH AUDIO TECHNOLOGIES
Public Relations Manager
Mr. Joshua Ryan Hall (joshua.hall@klipsch.com)
TEL. 317-860-8708
FAX. 317-860-9708
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