Pioneer Corp. said Tuesday that it will sell its lucrative disc-jockey equipment business to U.S. private-equity firm Kohlberg Kravis Roberts & Co. for ¥59 billion ($550 million), as the Japanese company continues its focus on stereo systems and global positioning systems for cars.

The sale of the business, which includes turntables, comes a week after Pioneer signed a deal to sell its home audiovisual equipment business to domestic rival Onkyo Corp., and five years after it exited its unprofitable television business.

The two Japanese companies initially invited Baring Private Equity Asia in late June as a sponsor for the deal to restructure the audiovisual business, made up of the home theaters Pioneer is globally known for, but the Asian private-equity firm backed out during the summer.

"Our business selling DJ equipment would have required large amounts of investment to continue to grow, and we can't afford to invest in it while also seeking to grow our in-car electronics operations," Pioneer President Susumu Kotani said at a media briefing Tuesday.

Pioneer will retain a stake of nearly 15% in the DJ-equipment business, which will keep Pioneer's brand name. The business is a popular one, with a global market share of more than 60% and a profit margin of 20%, according to Pioneer.