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MJI to Buy The Marantz Trademark from Philips

April 2001 | Royal Philips Electronics (Philips) and Marantz Japan, Inc. (MJI) have jointly announced that MJI intends to buy the Marantz trademark (primarily associated with Philips home/pro audio recording equipment), as well as the European and American sales organizations from Philips. In addition, Philips intends to sell 1.5% of its shares of MJI stock, reducing its stake from 50.5% to 49%. MJI will fund the transaction fully with debt.

(Philips Electronics, 3200 North First Street, San Jose, CA 95134, USA; 408/570-5644; Fax 408/570-5757; http://www.philips.com. Marantz Japan, Inc., 35-1, Sagamiono 7-chome, Sagamihara-shi, Kanagawa, Japan; +03 3719-2231; http://www.marantz.co.jp)

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