Yamaha Motor and Fuji Heavy Industries Conclude Contract to Transfer U.S. Sales Company and Selected Multi-purpose Engines
December 7, 2016
IWATA, December 7, 2016—Yamaha Motor Co., Ltd. (Headquarters: Iwata, Shizuoka, Japan, President: Hiroyuki Yanagi, hereafter “Yamaha”) and Fuji Heavy Industries Ltd. (Headquarters: Shibuya-ku, Tokyo, Japan, President: Yasuyuki Yoshinaga, hereafter “Fuji Heavy Industries”) have reached agreement, and have concluded a contract regarding the transfer of technological assets of selected multi-purpose engines and the capital stock of a U.S. sales company of Fuji Heavy Industries.
The two companies are progressing discussions towards completion of the transfer by October 1, 2017, in view of Fuji Heavy Industries ceasing the production and sale of multi-purpose engines etc. at the end of September 2017.
With regard to the transfer of technological assets, Fuji Heavy Industries will specifically, transfer to Yamaha Motor Powered Products Co., Ltd. (Headquarters: Kakegawa, Shizuoka, Japan, President: Osamu Ishioka, 100% subsidiary of Yamaha, hereafter “YMPC”) technology relating to three products, namely, EH65, EH72, and EH65V of the EH Series V-Twin Overhead Valve multi-purpose engine range, which are used in large generators and large lawn mowing machinery etc. . The acquisition of this technology will enable YMPC to sell the EH Series V-Twin Overhead Valve multi-purpose engines both within Japan and overseas.
Regarding the transfer of the U.S. sales company, all shares of Subaru Industrial Power Products (Headquarters: Illinois, U.S.A., President: Hiroyuki Saito, 100% subsidiary of Fuji Heavy Industries) held by Fuji Heavy Industries will be transferred to Yamaha Motor Corporation, U.S.A (Headquarters: California, U.S.A., President: Tatsumi Okawa, 100% subsidiary of Yamaha). Through this acquisition, Yamaha will not only continue after-sales service for Fuji Heavy Industries’ multi-purpose engine business in North America (excluding Mexico), but also further strengthen its power products business in North America.