Legendary Japanese hi-fi brand Onkyo files for bankruptcy

Legendary Japanese hi-fi brand Onkyo files for bankruptcy
(Image credit: Onkyo)

Onkyo has filed for bankruptcy. The Japanese brand has been a fixture of the hi-fi scene since 1946, but couldn't meet shifting consumer demand.

The firm filed at Osaka District Court on Friday, with total liabilities of around 3.1 billion yen ($24 million), Nikkei (opens in new tab) reports.

However, the Onkyo name will live on. In September, it sold its core home AV business to Sharp and the US-based Voxx International, and its earphones and headphones business to an investment fund. The Onkyo brand will live on in a joint venture between Sharp and Voxx.

The Osaka-based company was delisted in August. Two subsidiaries handling Onkyo's OEM (original equipment manufacturing) and sales filed for voluntary bankruptcy in March.

Onkyo made its name making classic hi-fi kit like speakers and turntables, and later AV receivers. Recent products such as the A-9010 successfully continued the company's good name.

The first indication that all was not rosy came in 2019 when Onkyo tried and failed to sell its audio business to Sound United – owner of Denon and Marantz – for a reported $73m (approx £53m, AU$95m). The company subsequently tried to keep doing business on a smaller scale, but couldn't stop its worsening cash flow problems, the firm told Nikkei.

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Joe has been writing about tech for 17 years, first on staff at T3 magazine, then in a freelance capacity for Stuff, The Sunday Times Travel Magazine, Men's Health, GQ, The Mirror, Trusted Reviews, TechRadar and many more (including What Hi-Fi?). His specialities include all things mobile, headphones and speakers that he can't justifying spending money on.

  • REALLYFORREAL
    It is with sadness to hear Onkyo is going into Bankruptcy. I just bought a new receiver about a year ago to compliment the JBL LSR-6338 SPEAKERS I bought new. They are 4 ohm. I liked my Sony receiver especially sense it is remote control compatible with other components in my entertainment rack. But, Sony doesn't have a reasonably priced 4 ohm output receiver. Well, having another brand unit to provide amplification for these very clean, precise speakers hasn't been a problem. Just another remote on the coffee table. I hope Onkyo can find another home that will continue there presence in the market.
    Reply
  • Freddy
    Sad day and times.
    Reply
  • Kris_dk
    Onkyo AVR not affected by bankruptcy

    1525843771627212806View: https://twitter.com/firstreflect/status/1525843771627212806?s=21&t=AtnmdUchEJ546lhQUpG8ew
    Reply
  • Freddy
    Kris_dk said:
    Onkyo AVR not affected by bankruptcy

    1525843771627212806View: https://twitter.com/firstreflect/status/1525843771627212806?s=21&t=AtnmdUchEJ546lhQUpG8ew
    That is good news! Thanks for the info. (y)
    Reply
  • PeterInVan
    What Hi-Fi? said:
    Onkyo has called it a day after 76 years making hi-fi, unable to meet shifting consumer demand.

    Legendary Japanese hi-fi brand Onkyo files for bankruptcy : Read more

    I bought the Onkyo A-9110 2ch amp the week before the bankruptcy announcement.
    It was the best choice for upgrading my crappy JVC 5.1 AV receiver.
    The Onkyo drives my ELAC B5.2 speakers which fit perfectly under my TV. I have a small sub-woofer for movie rumble.

    No soundbar for me. I wanted the best sound in my living room for under $1,000. By limiting the features on this amp Onkyo was able to use top quality components.

    Now I can enjoy listening to my Tidal streaming via 3.5mm to RCA cable.
    And movies sound great from the TV (also 3.5mm to RCA cable).

    All my gear is enclosed in a closet, so I have an old Harmony RF remote. Neat, Tidy, :)

    I have been a techie all my life, but as I get older I want simplicity.

    The only mod I had to do was paint the dots on the knobs white
    3591
    Reply
  • Geekomatic
    Kris_dk said:
    Onkyo AVR not affected by bankruptcy

    1525843771627212806View: https://twitter.com/firstreflect/status/1525843771627212806?s=21&t=AtnmdUchEJ546lhQUpG8ew

    Except, it is-- at least for those of us unlucky enough to have purchased a Pioneer AVR from Onkyo. Right now, I have NO access to my online radio services!
    Joe Svetlik Would be nice for an updated article on this BS. Here's the email I got in reply to my request for the already-released firmware update that leads to a time-out page:

    "Thank you for your reply.
    This is due to the Japan servers and websites shutting down after Onkyo had filed for bankruptcy earlier this month, and closed down as a company.

    We apologize for any inconvenience this situation must be causing you.

    While Onkyo the company has closed down, Onkyo the brand is still ongoing. Your Onkyo devices are still going to be supported in the future and to make sure this situation does not affect you and your products for long, we are currently looking into alternative ways to restore the functionality of the services and apps. "
    Reply
  • Freddy
    Geekomatic said:
    Except, it is-- at least for those of us unlucky enough to have purchased a Pioneer AVR from Onkyo. Right now, I have NO access to my online radio services!

    Joe Svetlik Would be nice for an updated article on this BS. Here's the email I got in reply to my request for the already-released firmware update that leads to a time-out page:

    "Thank you for your reply.

    This is due to the Japan servers and websites shutting down after Onkyo had filed for bankruptcy earlier this month, and closed down as a company.

    We apologize for any inconvenience this situation must be causing you.

    While Onkyo the company has closed down, Onkyo the brand is still ongoing. Your Onkyo devices are still going to be supported in the future and to make sure this situation does not affect you and your products for long, we are currently looking into alternative ways to restore the functionality of the services and apps. "
    Thanks for the info.
    Reply