Onkyo and Teac have formed a strategic alliance that will see them acquiring shares in each other’s stock.

The companies are currently looking at ways to share manufacturing facilities, logistic centres and research and development resources.

Onkyo president Munenori Otsuki said the alliance with Teac would offer opportunities to both companies to make the most of each other’s considerable strengths to provide innovative life-changing products. Teac president Yuji Hanabusa said the strategic alliance would make both companies more competitive in an ever-changing market.