Pioneer says to sell DJ equipment business to KKR for $550 million

By Reuters

Sep 16, 2014 08:23 AM EDT

Japanese car electronics maker Pioneer Corp (6773.T) said on Tuesday that it would sell its disc-jockey equipment business to private equity firm KKR & Co LP (KKR.N) for about 59 billion yen($550 million).

Pioneer has been selling off non-core assets to focus on its automotive electronics business. On Friday, the company said it would sell its home audio-visual business to audio equipment maker Onkyo Corp (6628.T).

Pioneer said that it expects a 55 billion yen special profit from the sale of the DJ equipment business and that it may revise its earnings forecast.

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