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Notice Regarding the Capital and Business Alliance Between Alps Alpine and Faital S.p.A.
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Jun 28, 2019
Alps Alpine Co., Ltd. (Tokyo: 6770; President & CEO: Toshihiro
Kuriyama) has increased its share ownership of Italian premium loudspeaker
manufacturer Faital S.p.A. (Headquarters: Milan, Italy) to 80% from the
initial 19.9% equity stake acquired by Alpine Electronics, Inc. in November
2018.
Alps Alpine has carved out a unique domain within the car audio
segment over the years, delivering premium solutions under the Alpine brand,
as well as through the OEM market to automakers. The company still considers
the realm of sound to be an essential component of automotive electronics,
even as the market anticipates a major reinvention of the in-vehicle
experience. Looking ahead to the future, enhancing the value of sound will be
crucial. In October 2018, Alpine and Faital, a manufacturer of premium
speakers, agreed to enter a capital and business alliance allowing them to
quickly strengthen the development capability, quality and cost
competitiveness of speaker products and put forward attractive solutions
within a premium domain underpinned by compact size and high efficiency where
Alps Alpine holds an advantage.
Alps Alpine has now increased its equity stake in Faital to 80%
from the initial 19.9% acquired by Alpine in 2018 when the tie-up was
entered.
The new share ownership ratio makes the high-end speaker
manufacturer a consolidated subsidiary. As the relationship strengthens, Alps
Alpine will seek to expand its established sound and audio product business by
heightening the corporate value of the Alpine brand of sound and further
bolstering the product lineup under a coherent management structure
encompassing planning and development through to production. Alps Alpine’s aim
is to accelerate and enhance generation of synergies through business
integration as the company moves toward attainment of its “ITC101” mid-term
business plan – specifically, the achievement of \1 trillion sales and 10%
operating income by fiscal 2024.
Additionally, strengthening of the alliance will be reflected in
new sound system solutions indispensable to manufacturers of premium vehicles,
including systems combining amplifiers and speakers for a premium sound, noise
cancelers contributing to quiet cockpit spaces, and safety systems
incorporating eSound technology.