Toronto, ON - The Board of Directors of Yamaha Motor Co.,
Ltd. (YMC) have voted to transfer all shares of Yamaha Motor Canada Ltd.
(YMCA), to its American subsidiary, Yamaha Motor Corporation, U.S.A. (YMUS).
The transfer, to be completed by Dec. 31, 2011, will see
YMUS assume additional responsibilities for financial reporting and audit. The
move will allow YMC to draw a centralized financial report from a single North
American operation, similar to their Yamaha Europe, Yamaha South America and
Yamaha Asia subsidiaries.
The investment arrangement will not impact YMCA's
organizational structure. YMCA will maintain all of its current, independent
responsibilities to serve the Canadian dealers and customers. The change is part of the on-going
business reform process for YMC to simplify reporting for North American
business.
YMCA joins
nine other subsidiaries, including Yamaha Motor Manufacturing Corporation of America,
Skeeter Products Inc., and Tennessee Water Craft Inc., under the YMUS ownership
portfolio.