Nakamichi Peripherals Corp

Nakamichi Corp., a $260-million Japanese company known for its audio equipment, has formed a holding company to oversee its growing computer peripherals business. The new company, Nakamichi Peripherals Corp., will move to its Cypress headquarters on Oct. 1. It will take over responsibilities for four California subsidiaries, which were acquired or established in the last two years, from its Torrance affiliate, Nakamichi USA. The subsidiaries are Mass Optical Storage Technologies Inc.

Nakamichi Corp., a $260-million Japanese company known for its audio equipment, has formed a holding company to oversee its growing computer peripherals business. The new company, Nakamichi Peripherals Corp., will move to its Cypress headquarters on Oct. 1. It will take over responsibilities for four California subsidiaries, which were acquired or established in the last two years, from its Torrance affiliate, Nakamichi USA. The subsidiaries are Mass Optical Storage Technologies Inc.

Nakamichi Peripherals Corp., a computer products subsidiary of Tokyo-based audio giant Nakamichi Corp., said Wednesday that it is spinning off its mini-cartridge tape manufacturing business at the end of July. The new company, Summit Memory Systems Inc. in Scotts Valley, will make tape backup systems for personal computers. The systems serve to back up hard disk drives in case of failure or theft.