FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of February, 2004
Commission File Number 1-7616
PIONEER CORPORATION
(Translation of registrant's name into English)
4-1, MEGURO 1-CHOME, MEGURO-KU, TOKYO 153-8654, JAPAN
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F:
Form 20-F X Form 40-F
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
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Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PIONEER CORPORATION
(Registrant)
Date: February 4, 2004
By /s/ Kaneo Ito
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Kaneo Ito
President and Representative Director
This report on Form 6-K contains the following:
1. The announcement released by the Company to the press in Japan dated
February 3, 2004, concerning the acquisition of NEC Plasma Display
Corporation, a subsidiary of NEC Corporation.
For Immediate Release
Pioneer Corporation
NEC Corporation
PIONEER TO ACQUIRE NEC'S PLASMA DISPLAY BUSINESSES
--- Memorandum of Understanding Concluded between Pioneer and NEC ---
February 3, 2004, Tokyo, Japan --- Pioneer Corporation (TSE: 6773; NYSE: PIO)
and NEC Corporation (TSE: 6701; NASDAQ: NIPNY) jointly announced today that they
had concluded a Memorandum of Understanding, by which NEC is to transfer to
Pioneer (i) all the shares NEC holds in its subsidiary, NEC Plasma Display
Corporation, and (ii) all the intellectual property rights NEC holds in relation
to plasma displays.
In recent years Pioneer has been improving its business structures, reflecting
its "select and focus" management policy, and one of its most important
management strategies has been to further expand the plasma display business as
a core of its current businesses.
NEC has been developing its businesses, focusing on two core domains of
integrated IT/network solutions and semiconductor solutions, and is advancing
strategies that fit the distinctive characteristics of these two business
domains. Regarding NEC's display business, although strong growth is expected in
displays for TV set use, substantial funding is required to expand growth.
Taking this into consideration, NEC in line with its promotion of policies to
find external capital for new growth in the industry examined the possibility of
creating an alliance aiming for large-scale advantages to develop business.
In this business environment, Pioneer and NEC, which both independently develop
and produce plasma displays, found that their respective technologies are
familiar, and came to the conclusion that the integration of the
highly-developed technologies and production capabilities of the two companies
would enable them to demonstrate the maximum of their expertise and take the
lead in the market, which will help meet the ever-rapidly increasing demand for
plasma displays worldwide.
Details of the transfer of shares, etc., as well as the date of transfer, will
be determined at a later date, and will be announced accordingly.
###
Outline of NPD on the back
OUTLINE OF NPD
Company name: NEC Plasma Display Corporation
Headquarters: 7-1, 5-Chome, Shiba, Minato-ku, Tokyo, Japan
Tamagawa Office: 1753, Shimonumabe, Nakahara-ku, Kawasaki, Kanagawa, Japan
Kagoshima Plant: 2080, Ohnohara-cho, Izumi, Kagoshima, Japan
President: Kenji Tokuyama
Paid-in Capital: 10 billion yen
Products: Plasma display sets and modules
Sales: Approximately 50 billion yen (estimates for fiscal year,
ending March 31, 2004)
Employees: Approximately 1,100 employees (as of the end of January,
2004)
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For further information, please contact (in Japan):
Pioneer Corporation
Public Relations, phone: 81-3-3495-9903; e-mail: pioneer_prd@post.pioneer.co.jp
NEC Corporation
Corporate Communications Division
Diane Foley, phone: 81-3-3798-6511; e-mail: d-foley@ax.jp.nec.com
Makoto Miyakawa, phone: 81-3-3798-6511; e-mail: m-miyakawa@bk.jp.nec.com