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Found this on my local m/c forum:
From the Yamaha Corp Website September 27, 2011
Today's meeting of the Board of Directors of Yamaha Motor Co., Ltd. (the Company) voted to transfer all shares in the Canadian subsidiary, Yamaha Motor Canada Limited, to the U.S. subsidiary, Yamaha Motor Corporation, U.S.A. Profits from the sale of shares in the subsidiary will be recorded as extraordinary profits in the Company's financial statement for the period ending December 2011 (January 1 2011 - December 31 2011).
The share transfer will have no impact on consolidated business performance.
1.Background Yamaha Motor Canada Limited is the importer and domestic distributor of Yamaha Motor products in Canadian markets, while Yamaha Motor Corporation, U.S.A. performs the equivalent role in the United States. The share transfer creates a more efficient regional management structure under which Yamaha Motor Corporation, U.S.A. will assume responsibility for all North American territories.
2.Overview
(1)The company whose shares are to be transferred
Corporate name
Yamaha Motor Canada Limited
Location
480 Gordon Baker Road, Toronto, Ontario M2H 3B4, Canada
Representative
Hirotoshi Fujita
Main business
Import and sale of Yamaha Motor products
Capitalization
CAD 10,000,000
Founded
April 12, 1973
Shareholders
Yamaha Motor Co., Ltd. (100%)
(2)The company receiving the shares
Corporate name
Yamaha Motor Corporation, U.S.A.
Location
6555 Katella Avenue, Cypress, CA, 90630, U.S.A.
Representative
Toshizumi Kato
Main business
Import and sale of Yamaha Motor products
Capitalization
USD 185,020,000
Founded
October 20, 1976
Shareholders
Yamaha Motor Co., Ltd. (100%)
(3)Transfer contract amount:USD equivalent of CAD 165 million (calculated at exchange rate specified in transfer contract)
(4)Proposed transfer contract dateecember 1, 2011
(5)Proposed completion of transferecember 31, 2011
(6)Number of shares transferred:1,000,000 (100%)
3.Impact on business performance
Under the transfer contract, the extraordinary profits associated with the sale of shares in the subsidiary are expected to be 10,611 million yen for the period ending December 2011 (January 1 2011 - December 31 2011), based on the exchange rate as of September 22 (76 yen = CAD1).
This will have no impact on consolidated business performance.
And now the October 4th Tweet
Yamaha CanadaShare 2retweetTue, October 4th, 2011 @ 6:55 pm, by Jensen Beeler2 COMMENTS
Home » News » Yamaha USA Swallows Up Yamaha Canada
The past recession, and its possible double-dippig nature, still has the motorcycle industry on its heals. This fact can be no better exemplified than by the latest move from Yamaha, whose board of directors recently voted to merge its North American operations under one roof. In an effort to restructure itself more appropriately, Yamaha Motor Canada will become a subsidiary of Yamaha Motor USA, which would in turn take responsibility for the entire North American market.
Yamaha likely is undertaking the move because of the operational similarities between the previously separate entities, not to mention the savings involved by reducing the redundancy). The move places Yamaha Canada as one of Yamaha USA’s 10 subsidiary divisions, which includes the company’s North American manufacturing, Skeeter Products, Tennessee Watercraft, and six others. The result of this business move should have little impact on what consumers in either the US or Canadian market experience.
Source: Yamaha Motor Corporation via Motorcycle.com
More details here on the original forum thread: Yamaha Canada is no more - Islandriders.ca Forums
From the Yamaha Corp Website September 27, 2011
Today's meeting of the Board of Directors of Yamaha Motor Co., Ltd. (the Company) voted to transfer all shares in the Canadian subsidiary, Yamaha Motor Canada Limited, to the U.S. subsidiary, Yamaha Motor Corporation, U.S.A. Profits from the sale of shares in the subsidiary will be recorded as extraordinary profits in the Company's financial statement for the period ending December 2011 (January 1 2011 - December 31 2011).
The share transfer will have no impact on consolidated business performance.
1.Background Yamaha Motor Canada Limited is the importer and domestic distributor of Yamaha Motor products in Canadian markets, while Yamaha Motor Corporation, U.S.A. performs the equivalent role in the United States. The share transfer creates a more efficient regional management structure under which Yamaha Motor Corporation, U.S.A. will assume responsibility for all North American territories.
2.Overview
(1)The company whose shares are to be transferred
Corporate name
Yamaha Motor Canada Limited
Location
480 Gordon Baker Road, Toronto, Ontario M2H 3B4, Canada
Representative
Hirotoshi Fujita
Main business
Import and sale of Yamaha Motor products
Capitalization
CAD 10,000,000
Founded
April 12, 1973
Shareholders
Yamaha Motor Co., Ltd. (100%)
(2)The company receiving the shares
Corporate name
Yamaha Motor Corporation, U.S.A.
Location
6555 Katella Avenue, Cypress, CA, 90630, U.S.A.
Representative
Toshizumi Kato
Main business
Import and sale of Yamaha Motor products
Capitalization
USD 185,020,000
Founded
October 20, 1976
Shareholders
Yamaha Motor Co., Ltd. (100%)
(3)Transfer contract amount:USD equivalent of CAD 165 million (calculated at exchange rate specified in transfer contract)
(4)Proposed transfer contract dateecember 1, 2011
(5)Proposed completion of transferecember 31, 2011
(6)Number of shares transferred:1,000,000 (100%)
3.Impact on business performance
Under the transfer contract, the extraordinary profits associated with the sale of shares in the subsidiary are expected to be 10,611 million yen for the period ending December 2011 (January 1 2011 - December 31 2011), based on the exchange rate as of September 22 (76 yen = CAD1).
This will have no impact on consolidated business performance.
And now the October 4th Tweet
Yamaha CanadaShare 2retweetTue, October 4th, 2011 @ 6:55 pm, by Jensen Beeler2 COMMENTS
Home » News » Yamaha USA Swallows Up Yamaha Canada
The past recession, and its possible double-dippig nature, still has the motorcycle industry on its heals. This fact can be no better exemplified than by the latest move from Yamaha, whose board of directors recently voted to merge its North American operations under one roof. In an effort to restructure itself more appropriately, Yamaha Motor Canada will become a subsidiary of Yamaha Motor USA, which would in turn take responsibility for the entire North American market.
Yamaha likely is undertaking the move because of the operational similarities between the previously separate entities, not to mention the savings involved by reducing the redundancy). The move places Yamaha Canada as one of Yamaha USA’s 10 subsidiary divisions, which includes the company’s North American manufacturing, Skeeter Products, Tennessee Watercraft, and six others. The result of this business move should have little impact on what consumers in either the US or Canadian market experience.
Source: Yamaha Motor Corporation via Motorcycle.com
More details here on the original forum thread: Yamaha Canada is no more - Islandriders.ca Forums
