|
|
 |
Notice of Decision to Establish Investment Holding Company in China
|
|
YAMAHA has taken steps toward the establishment of a Chinese investment holding company to facilitate the smooth development of its operations in China in accordance with the central government's foreign-investment policy.
YAMAHA has applied for a business license and is taking other concrete measures to establish operations in China, which has strong growth prospects as a market and is an ideal region in which to build production facilities. |
|
 |
 |
|
|
| 1.Objectives and Reasons for Establishing an Investment Holding Company in China |
|
| 1) |
Establish an investment holding company to facilitate the smooth development of YAMAHA's operations in China in accordance with the government's foreign-investment policy.
|
| 2) |
The holding company will manage YAMAHA's investment activities in China and, by focusing on domestic sales, will integrate the Company's Chinese operations.
|
| 3) |
Take immediate advantage of China's market liberalization policy to secure favorable terms of entry.
|
|
|
|
|
|
|
| 2. Holding Company Details |
|
Company name:
|
Yamaha Music & Electronics (China) Co., Ltd.
|
| Location: |
Beijing (tentative)
|
| Capital: |
US$30 million
|
| Establishment: |
Application submitted in January 2002
Permit scheduled to be issued in August 2002
|
| Organization: |
Initially approximately 30 employees
|
| Sales target: |
¥20 billion within three years
(Combined domestic sales for musical instruments and audio products)
|
| Note: |
Analogous to holding companies in Western countries, Chinese investment holding companies serve as vehicles through which foreign companies can manage and invest in local subsidiaries. |
|
|
|
|
|
 |
For further information, please contact
Yamaha Corporation
Public Relations Division
Corporate Communication Group
TEL. +81-3- 5488-6601
2-17-11 Takanawa, Minato-ku,
Tokyo 108-8568
|
|
|
|
|
|
|
