JVC Looking to sell SMAP, Southern All Stars Label to Konami

Written By: guyjin on November 4, 2009 No Comment

Japanese electronics company JVC Kenwood Holdings are in talks with software giant Konami to sell their music division, Victor Entertainment. Negotiations are under way for the sale of a majority share to Konami, after JVC had apparently also felt out market leader Universal Music. The deal, if it goes ahead, is expected to be completed this month.

JVC want to focus on strengthening their core business in video related devices, and Konami is well placed to expand on its business in the cell phone distribution of videos and music.

Victor Entertainment was first established in 1928, as the music division of JVC. In 1972, it broke off as a record company, and it is currently home to many major Japanese artists including SMAP and Southern All Stars
.

In terms of the domestic music market, Victor is currently a distant 4th with a 7% market share, behind the big three market leaders Universal Music (16%), Avex Group Holdings (15%), and Sony Music Entertainment (15%).

(Content adapted and translated from Yomiuri Article: ビクターが音楽部門売却へ…サザンやSMAP所属)