MARANTZ, DENON MERGE OPERATIONS

Marantz Japan Inc., Royal Philips Electronics and Denon Ltd., announced the creation of D&M Holdings Inc. (Sagamihara City, Japan), a joint holding company
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Marantz Japan Inc., Royal Philips Electronics and Denon Ltd., announced the creation of D&M Holdings Inc. (Sagamihara City, Japan), a joint holding company based on the merged operations of Marantz and Denon.

Included in the merger were staff changes: Tatsuo Kabumoto, president/CEO of D&M Holdings; Mitsushige Sakamoto, president/CEO of Denon; and Takashi Sato, president/CEO of Marantz.

The Denon and Marantz brand names will be maintained, as will sales, marketing and distribution channels. Marantz acquired the trademark rights and sales subsidiaries operating in Europe and the U.S. from Philips last May.