They were rebadged Technics, but not, I think, because Technics didn't see a future for them. JC Pennys was a major power in the retail trade and for a while they made a serious move into the audio realm. Most (but I don't think all) of their equipment was made by Technics (I had some big speakers that were almost certainly made by whoever made the Pioneers with the yellow dome tweeters and midranges).
I was surprised when I had a pair of the Technics honeycomb speakers, to find that the flat honeycomb is connected to the voice coil by a rather conventional looking cone, but I think that the cone is smaller, straighter and stiffer than a full cone, and the combo of cone and honeycomb is lighter and more pistonic than a conventional cone. I couldn't really decide exactly why the speakers sounded different from conventional speakers in the short time I dealt with them.