JVC announced today that it is spinning off its recordable media business into a new company called Victor Advanced Media Co., Ltd. Once the spin off is complete, JVC plans to transfer a portion of the new company's shares to Taiyo Yuden.
Under its new Medium-term Management Plan, JVC is currently reforming its businessstructure and management foundation by focusing on consumer electronics, professionalsystems, and entertainment as its three future core businesses. These reforms includeconcentrated efforts to strengthen these core businesses, as well as fundamental review ofother businesses.

In the process of JVC's investigation of thorough structural reforms the company consideredthe transfer or spin-off of its recordable media business.

As a result, JVC decided to spin-off this business to the new company Victor AdvancedMedia Co., Ltd. and transfer a portion of the shares of this company to Taiyo Yuden Co., Ltd.JVC judged this to be the best option for business continuity. It will also make maximum use ofthe brand strength, technology, and know-how that JVC has cultivated up to the present;ensure continuity in responsibility for product supply to existing customers; and secure the employment of JVC personnel working in the recordable media business.
It's good to see JVC and Taiyo Yuden working together. Hopefully, this way we'll actually see the DVD-RW DL media that JVC has been developing. If you'd like to read more, JVC's entire press release can be found here.