JMT Web News

December 12, 2014 09:50 AM

Vestax Filed For Bankruptcy

Vestax Corporation, a leading manufacturer of DJ mixers, turntables, etc., filed for bankruptcy to Tokyo District Court on December 5, recently reported Teikoku Databank, Limited, a corporate credit research company.

 

Vestax expanded business early 00s, and reported 2.5 billion yen annual sales in 2002. However, the economic downturn, and rise of inexpensive models made in China severely impacted the sales of the company in the following years. The sales went down to 1.06 billion yen in 2012, further deteriorated to under 0.5 billion yen a year later. Total debt is reportedly 0.9 billion yen.

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