Reuters: Japanese consumer electronics makers Pioneer Corp and Sharp Corp said on Monday that they would delay the merger of their optical disc operations as anti-trust reviews continue overseas.
The two companies reached an agreement for the merger earlier in the year and were scheduled to start the joint venture on Oct 1, in a bid to establish a leading position in the Blu-ray disc market.
Pioneer also said it is still in talks with investors to raise money to shore up its finances. The struggling company has said it aims to raise 40 billion yen ($448.7 million) from investors including Honda Motor Co Ltd, which plans to invest 2.5 billion yen. The automaker procures car navigation systems from Pioneer.