Moody's rates Pioneer Baa1

Moody's Investors Service said it assigned a Baa1 local-currency issuer rating to Pioneer Corp.

The outlook is stable.

The rating reflects Pioneer's strong presence and solid profitability in car electronics products, such as audio/visual products and navigation systems, as well as a healthy balance sheet, Moody's said.

The rating also incorporates the challenges the company faces in the home electronics segment, including severe competition with global players and ongoing price declines, the agency added.

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