Pioneer is a Japanese multinational corporation based in Tokyo, Japan, that specializes in digital entertainment products. The company was founded by Nozomu Matsumoto in 1938 in Tokyo as a radio and speaker repair shop. Its current president is Susumu Kotani. Pioneer played a role in the development of interactive cable TV, the Laser Disc player, the first automotive Compact Disc player, the first detachable face car stereo, Supertuner technology, DVD and DVD recording, the first AV receiver with Dolby Digital, plasma display (with the last 2 years of plasma models being branded as Kuro, lauded for their outstanding black levels) and Organic LED display (OLED). The company works with optical disc and display technology and software products and is also a manufacturer. BMW Group, Volkswagen group and Daimler AG of Germany jointly acquired a 3% ownership stake in Pioneer through a joint venture company called Here B.V. Most of Pioneer's share are held by Mitsubishi group of companies.