TIDM35SV TIDMHNDA 
 
RNS Number : 7380E 
Pioneer Corporation 
28 December 2009 
 
 
 
 
 
 
 
For Immediate Release 
December 28, 2009 
Pioneer Announces Status of Postponement of Issuance of 
New Shares Through 
Third-Party Allotment 
Pioneer Corporation (hereinafter "Pioneer") announced today the current status 
regarding the postponement of issuance of new shares through a third-party 
allotment to Honda Motor Co., Ltd. (hereinafter "Honda") as described below. On 
June 19, 2009 and September 28, 2009, Pioneer had made announcements on such 
postponement. 
 
 
1.    Current Status of the Issuance of New Shares 
As of today, schedule of the issuance of new shares is not yet fixed. Please 
note, however, that Honda still intends to subscribe for the new shares in the 
amount of approximately JPY2.5 billion. 
    As previously announced, Pioneer has continued to negotiate with potential 
sponsors as a new counterparty of the financial partnerships to raise funds to 
meet anticipated needs for its medium-term management plan. Based on the status 
of negotiations with them, and as a result of the discussions with Honda, 
Pioneer made announcements with respect to postponement of issuance of new 
shares on June 19, 2009 and on September 28, 2009. 
    As to the restructuring, "Business Portfolio Realignment" and "Streamlining 
the Business Framework of the Entire Pioneer Group" are proceeding as planned, 
and accordingly, upward revision of consolidated business forecasts for fiscal 
2010, the year ending March 31, 2010, have been announced on October 29, 2009. 
Also, regarding "Improving the Company's Financial Position," as announced on 
November 5, 2009, Pioneer now expects that the amount of funds needed to 
implement its medium-term management plan will be reduced to around half of the 
original estimate of approximately JPY40 billion, and the Company will reduce 
this amount further through the sale of assets, including the Head Office site. 
At the same time, Pioneer is continuing to negotiate earnestly with the 
potential sponsors in order to promptly and steadily implement the medium-term 
management plan after restructuring. 
 
 
2.    Future Prospects 
The schedule of the issuance of new shares is to be fixed by the time the 
financial partnerships have been finally agreed upon with the potential 
sponsors. The issue date and the closing date will be announced once they have 
been determined. It is possible that the terms and conditions of the issuance 
may be modified as a result of future discussions with Honda. The status of the 
issuance will also be announced by March 2010. 
  3.    Scheduled Timing of Expenditure of Funds 
The scheduled timing of expenditure of funds is delayed from the original plan 
of the second quarter of fiscal 2010 (from July to September of 2009) in 
accordance with the postponement described above. However, there will not be any 
particular impact on the cash management of Pioneer. 
 
 
 
 
Pioneer Corporation is a leading global manufacturer of consumer- and 
business-use electronics products such as car electronics, audio and video 
products. Its shares are traded on the Tokyo Stock Exchange. 
 
 
# # # # # # 
 
 
For further information, please contact: 
Hideki Okayasu 
Senior Managing Director and Representative Director 
Pioneer Corporation, Japan 
Phone: +81-44-580-3211 / Fax: +81-44-580-4064 
E-mail: pioneer_shr@post.pioneer.co.jp 
IR Website: http://pioneer.jp/ir-e/ 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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