Transfer of Yamaha Motor Powered Products' LLV Business Functions and the Start of Merger Considerations
November 1, 2024
IWATA, November 1, 2024 - Yamaha Motor Co., Ltd. (Tokyo: 7272) announces that it has commenced considerations for a merger with Yamaha Motor Powered Products Co., Ltd. (YMPC)-a consolidated subsidiary located in Kakegawa City, Shizuoka Prefecture which primarily develops, manufactures, and sells golf cars and land cars (hereinafter referred to as "LLV")-in which Yamaha Motor Co., Ltd. would be the surviving entity. The merger is scheduled to be completed by January 2027.
Prior to this merger, YMPC's business functions related to LLV, including development, business planning, product planning, sales, and services, will be transferred to Yamaha Motor Co., Ltd. effective January 1, 2025. The Company aims to achieve further growth of the LLV business with this merger by enhancing the development speed and quality of LLV products and accelerating the creation of new value for customers by consolidating the intellectual property, advanced development, and electric vehicle development expertise and resources of both YMPC and Yamaha Motor Co., Ltd.
There are no plans to close business locations or manufacturing sites, nor to conduct personnel reductions in connection with this transfer of business functions.
This year marks the final year of our current Medium-Term Management Plan and we will enter the first phase of a new Medium-Term Management Plan starting in 2025. This merger is part of a strategic administering of our management resources and strengthening our organizational structure as we formulate the next Medium-Term Management Plan.
Prior to this merger, YMPC's business functions related to LLV, including development, business planning, product planning, sales, and services, will be transferred to Yamaha Motor Co., Ltd. effective January 1, 2025. The Company aims to achieve further growth of the LLV business with this merger by enhancing the development speed and quality of LLV products and accelerating the creation of new value for customers by consolidating the intellectual property, advanced development, and electric vehicle development expertise and resources of both YMPC and Yamaha Motor Co., Ltd.
There are no plans to close business locations or manufacturing sites, nor to conduct personnel reductions in connection with this transfer of business functions.
This year marks the final year of our current Medium-Term Management Plan and we will enter the first phase of a new Medium-Term Management Plan starting in 2025. This merger is part of a strategic administering of our management resources and strengthening our organizational structure as we formulate the next Medium-Term Management Plan.
