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YAMAHA to Establish Holding Company in Europe
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To promote a uniform policy for the increasingly integrated European market, strengthen its competitiveness, and improve the efficiency of its consolidated management, YAMAHA has decided to establish Yamaha Music Holding Europe GmbH, which will serve as the Company's European headquarters and oversee the sale of musical instruments and other products.
Until now, YAMAHA has conducted its sales activities, which are centered on musical instruments, via six sales subsidiaries located in different European countries. These subsidiaries are Yamaha Europa GmbH (YE) in Germany, Yamaha-Kemble Music Ltd. (YK) in the United Kingdom, Yamaha Musique France S.A. (YMF) in France, Yamaha Musica Italia s.p.a (YMI) in Italy, Yamaha-Hazen Musica S.A. (YH) in Spain, and Yamaha Scandinavia A.B. (YS) in Sweden.
The introduction of the euro has resulted in increased market integration in Europe, and the intensification of cross-boarder competition is requiring the implementation of uniform pricing and sales conditions throughout the market.
Until now, YE has functioned as YAMAHA's European headquarters, thus serving as the basis of the Company's musical instrument business in Europe. However, to strengthen the function of the headquarters, YAMAHA has decided to establish a new holding company in Europe.
As the parent organization overseeing the promotion of policies across Europe, the new holding company will formulate logistics strategies, execute cross-border marketing, and plan basic sales policies. Each sales subsidiary will be responsible for local marketing and the development of policies to be applied within its market domain.
YE, which has functioned as the head office until now, will transfer all headquarter functions to the new holding company and, after changing its name, will restart operations as an affiliated sales subsidiary. |
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| 1. Objectives and Reasons for Establishing the New Holding Company |
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| The new holding company will be established to promote policies across the increasingly integrated European market. |
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2. Overview of New Holding Company
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| Company name |
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Yamaha Music Holding Europe GmbH |
| Location |
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Rellingen, (b. Hamburg) Germany |
| Capital |
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€70 million (approximately ¥8 billion) |
| Method of contribution to capital |
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Investment-in-kind from YAMAHA's holdings in European musical instrument sales subsidiaries |
| Establishment |
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Plan to register new company in October 2002 |
| Board Members (tentataive) |
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| [President] |
Motoki Takahashi (current president of Yamaha Europa) |
| [Director] |
Noriyuki Egawa (currently managing director of Yamaha Corporation) |
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| Type of business |
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Act as holding company for regional subsidiaries in Europe and oversee the sale of musical instruments |
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Promote policies for the entire European market |
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Formulate and promote logistics strategies for European market |
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Finance the operations of regional subsidiaries in Europe |
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For more information, please contact
Yamaha Corporation
Public Relations Division
Corporate Communication Group
TEL. +81-3- 5488-6601
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