BUSINESS
January 9, 1993 | From Times Wire Services
In a sign that Japan's lifetime employment system is fraying under the pressures of recession, a major electronics manufacturer said Friday that it has told 35 managers to retire early or be fired. Kazuya Yamamoto, a spokesman for Pioneer Electronic Corp., said the managers were asked to quit before their retirement age of 60. If they refused, they would be fired by the end of this month. "Some of these older employees used to work very hard," Yamamoto said.
BUSINESS
November 20, 1989 | From Times wire services
Two U.S. subsidiaries of Japan's Pioneer Electronic Corp. have jointly bought a 100% stake in DiscoVision Associates for $200 million, Pioneer said today. The main business of DVA, based in Costa Mesa, Calif., is licensing a worldwide patent portfolio for optical disc recording and reproducing technology. DVA was previously a 50-50 joint venture betweeen International Business Machines and MCA.
BUSINESS
January 8, 1991 | From Times Wire Services
Pioneer Electronic Corp., a major Japanese audio products maker, said today that reports of Paramount Communications Inc. approaching it with an offer to sell its motion pictures division were based on a misunderstanding. On Monday, a Pioneer spokesman had said that the American company contacted Pioneer last year with what he called a preliminary offer and that Pioneer declined it. Paramount on Monday denied ever contacting Pioneer.