Probably a bad solder joint. I sold stereo stuff made back then, and even though the Technics stuff was better than most of the others, sometimes there would be one that lost a channel when one would crack or age. Some of the soldering I saw in Sansui equipment was amazingly poor. Pioneer and Kenwood had some problems with soldering too, especially in the lower end stuff. Sansui had issues with almost everything they made. They had a lot of cold solder joints on volume and balance pots, and sometimes they would "forget" to solder the speaker terminals at all!
They used to do a lot of wiring channels in reverse on tape decks too.
I got very good at finding bad joints with my fingers to get things humming while powered up, and a jewelers loupe to look for cracked joints..
At the age of a SA-404, I would look at electrolytic caps as my main component failiure possibility.