Kawai Acquires Zen-On Music

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Kawai announced on March 20 that it would acquire 100% of Zen-On stocks to make it a subsidiary company. The business transaction will complete by the end of this month. The purchase value is estimated to be around 1 billion yen.

Tokyo-based Zen-On, one of the oldest publishers of classical music with 83 years history, and manufacturer of school musical instruments including keyboard harmonicas, xylophones and recorders, achieved 4.4 billion yen sales in 2013.

Kawai plans to expand its publishing and school businesses by obtaining seasoned music publishing experience, copyright assets, and school market distribution network of Zen-On. However, Zen-on products will be distributed separately from Kawai lines for the time being.

Noriyuki Honma now serving as president of Zen-on will be replaced by Tsuneaki Kasai, Vice Branch Manager, Tokyo Branch of Kawai after April 1.

 


 

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