Yamaha Corporation (Head Office: Hamamatsu, Shizuoka Prefecture; Representative: Mitsuru Umemura; hereinafter, Yamaha) announced today that it has decided to implement steps, beginning in April 2008, to consolidate its AV equipment sales companies with its musical instruments sales companies to form one sales company for these products in each of Germany, France, and the United Kingdom.
This consolidation is part of measures being implemented in the region under Yamaha’s medium-term business plan, “Yamaha Growth Plan 2010 (YGP2010),” to consolidate musical instruments and AV equipment sales capabilities, with the objectives of realizing maximum synergies in the sales of musical instruments and AV equipment as well as simultaneously improving management efficiency through the consolidation of distribution capabilities.
In Germany and France, Yamaha’s AV equipment sales company will be absorbed into Yamaha’s musical instruments sales company. In the United Kingdom, the operations of the AV equipment sales company will be transferred into the musical instruments sales company, and the AV equipment sales business will be reorganized as a department of the musical instruments sales company. The U.K. subsidiary formerly responsible for AV equipment will cease operations.
The outline of the consolidation by country is shown below. Please note that the impact of this consolidation of operations in Europe on Yamaha’s consolidate performance will be minimal.
Outline of Consolidations by Country
1.Consolidation of Sales Companies in Germany (Scheduled for Completion in April 2008)
Outline of AV equipment sales company to be absorbed in the consolidation
| Company name | Yamaha Elektronik Europa GmbH (YEE) |
|---|---|
| Location | Rellingen, Germany |
| Representative | Yasuaki Gyoten |
| Paid-in capital | 4.1 million euros (100% owned by YMCE) |
| Lines of business | Import and sale of AV products |
| Date of establishment | March 25, 1981 |
Outline of the musical instruments sales company after consolidation
| Company name | Yamaha Music Central Europe GmbH (YMCE) |
|---|---|
| Location | Rellingen, Germany |
| Representative | Yasuaki Gyoten |
| Paid-in capital | 10.452 million euros (100% owned by YMHE*) |
| Lines of business | Import and sale of musical instruments as well as PA and AV products, management of music schools |
| Date of establishment | July 25, 1966 |
2.Consolidation of Sales Companies in France (Scheduled for Completion in May 2008)
Outline of the AV equipment sales company to be absorbed in the consolidation
| Company name | Yamaha Electronique France (YEF) |
|---|---|
| Location | Croissy-Beaubourg, France |
| Representative | Bernard Weil |
| Paid-in capital | 1.824 million euros (100% owned by YMF) |
| Lines of business | Import and sale of AV products |
| Date of establishment | March 12, 1988 |
Outline of the sales company after consolidation
| Company name | Yamaha Musique France (YMF) |
|---|---|
| Location | Croissy-Beaubourg, France |
| Representative | Bernard Weil |
| Paid-in capital | 1.2 million euros (100% owned by YMHE*) |
| Lines of business | Import and sale of musical instruments as well as PA and AV equipment |
| Date of establishment | January 11, 1973 |
3.Consolidation of Sales Companies in the United Kingdom (Transfer of Operations to Be Completed in June 2008)
AV equipment sales company whose operations will be transferred
| Company name | Yamaha Electronics (UK) Ltd. (YEUK) |
|---|---|
| Location | Watford, U.K. |
| Representative | Kenichiro Kamoshida |
| Paid-in capital | 1.0 million U.K. pounds (100% owned by Yamaha Corporation) |
| Lines of business | Import and sale of AV products |
| Date of establishment | January 1, 1986 |
Outline of the sales company after consolidation
| Company name | Yamaha Music U.K. Ltd. (YMUK) |
|---|---|
| Location | Milton Keynes, U.K |
| Representative | Andrew Kemble |
| Paid-in capital | 25,000 U.K. pounds (100% owned by YMHE*) |
| Lines of business | Import and sale of musical instruments as well as PA and AV equipment |
| Date of establishment | February 13, 1968 |
* Yamaha Music Holding Europe GmbH (YMHE)(Regional management and holding company for Yamaha Group companies in Europe)
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For further information, please contact
Yamaha Corporation
Corporate Communications Division, Public Relations Group
- TEL. +81-3-5488-6601
- FAX. +81-3-5488-5060
Visit Yamaha's website at
http://www.yamaha.com/
