Not really, they do made a lot of separates including tube amps, class A mono blocks etc. in the 70's, but not in the Americas and probably very limited in Europe. I remember the days in Hong Kong when Denon was a big name, popular, and perceived as higher end than Sansui, Pioneer and Kenwood etc., about in par with Marantz. I just don't know why they don't seem to even try to market their audiophile products on this side of the world. If any one happens (I wouldn't know why either..) to want one of those still available Denon integrated amps, they would have to shop e-Bay, and most of them are used and being sold from Japan. The 2007 Denon AVP and POA were favorably reviewed right here on AH, yet they did not follow up despite the occasional rumors. I think you are right, except they did not seem to use the strategy in Japan and the nearby countries but the reason could simply be that they are firmly established there so there is no need to give up the space to Marantz.