Osaka, Japan. Major audio equipment maker Onkyo Corp. announced yesterday that it will close the manufacturing plant adjacent to its Osaka headquarters. The company plans to set up a large shopping center at the site.
Onkyo previously halted audio product assembly at the 28,000 square meter plant, but had continued to produce parts there. Company officials put the blame on sluggish domestic demand in Japan for audio gear. Onkyo will transfer all domestic manufacturing to its two subsidiaries in western Japan.
At its peak, the Osaka plant produced 56,000 units of audio equipment a month with a workforce of 500.
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