Y's Marine is to take on the marine business of Yanase

Y's Marine Co., Ltd., which is an affiliated company of Yamaha Motor Co., Ltd. (President: Akira Sakai, location: Suita city, Osaka-fu) and Yanase & Co., Ltd. (President: Takahide Inayama, location: Shibaura Minato-ku, Tokyo, hereinafter "Yanase") agree that Y's Marine will take on marine business including the import/sales/service of boats conducted until now by Yanase in Japan.

Y's Marine will take on the import/sales business of boats, their parts and accessories made by 6 boat manufacturers in Europe and the U.S. including "Hatteras", "Wellcraft" and "Carver" and after-sale service for boat owners who purchased their craft from Yanase.

Y's Marine will receive the transfer of marine business from Yanase on January 1st, 2001 and start business from February 1st after completion of various procedures.
The majority of boat types imported will be middle sized craft (overall length 27 feet/approx. 8m class) which are used for leisure fishing and cruising in coastal waters, and large cruisers (overall length 40 feet/12m class or more) used for bill fishing (fishing for swordfish) and off-shore cruising. The planned figure for boat sales in the first year (2001) is around twenty-plus (approx. 3 hundred million yen), and it is planned to double the figure for both the number of boats and sales value in 2003.

The primary purpose behind this agreement is that Y's Marine will gain a line-up that meets the diversified demands of customers, firstly in order to enable existing Yanase customers to continue to enjoy marine leisure in confidence and also to support the further development of the domestic marine leisure market.
The Japanese domestic pleasure boat market is currently sluggish due to the economic recession, and a restructuring of business infrastructure is being promoted throughout the entire industry to fit actual market conditions. Yamaha Motor plans to enhance systems such as rental boat businesses in order to make marine leisure more easily accessible, organize the boat storage infrastructure, advance education/promotional activities and also to develop boats and yachts suited to Japanese conditions and lifestyle, as well as enhancing activities for the promotion of various forms of marine leisure.