notevenclose
pfm Member
Only dealers know the margins so for once I'd suggest listening to Keith.
Accuphase are quite a unique case as they don't seem to have particularly good global distribution. This seems to result in them being 40% more expensive than Luxman. (https://pinkfishmedia.net/forum/threads/luxman-accuphase-yamaha-quality.241821/page-9#post-4023733)
I'd contend Accuphase is/was much more typical of the model for smaller Japanese manufacturers. Luxman has the economy of scale and clout of IAG's global marketing behind it, only the larger players generally have their own global marketing and distribution, and these are companies typically active in a wide range number of market sectors.
Smaller, or at least lower volume, Japanese manufacturers have struggled in recent times particularly in international markets, my old favourite Sansui comes to mind but there are numerous others. Luxman is a prime example, they were in decline and batted about between owners for a very long time before IAG stepped in.
'Artisan' operations such as Kondo followed the export agency model for decades, I think it's only recently that some companies have started to look at being more in control of their own destiny.