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Regarding the Decision to Close Sunza Villa
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Tokyo, Japan, March 26, 2003 – At a meeting of the board of directors of YAMAHA held today, the board decided to curtail the operations of the wholly-owned subsidiary Sunza Villa Co., Ltd., on June 30 and to close down that company.
YAMAHA shifted responsibility for operating Sunza Villa to the newly established management company Sunza Villa Co., Ltd., which strove to improve the profitability of Sunza Villa. However, large differences emerged between actual performance of the management company and the sales and profit plans drafted when that company was established. After the consideration of various alternative business plans, it was determined that the company had little prospect of improving its profitability. Accordingly, it was decided to curtail the company's operations as of June 30, 2003.
This decision will not have a significant effect on the performance of YAMAHA in the current fiscal year.
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| Data: |
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| Facility |
Sunza Villa |
| Location |
Kiga 11417-1, Hosoe-cho, Inasa, Shizuoka |
| Company |
Sunza Villa Co., Ltd. |
| Capital |
¥30 million (100% invested by YAMAHA) |
| Representative |
President and Representative Director
Kazuo Maruyama |
| Business Fields |
Operation of lodging, restaurant, wedding hall, and marina facilities |
| Recent Performance |
(FY ended) |
Net Sales |
Number of Visitors |
| Day Trippers |
Overnight Guests |
| (March, 2002) |
¥710 million |
89,000 |
15,000 |
| (March, 2003 estimated) |
¥640 million |
79,000 |
14,000 |
| End of Operations |
June 30, 2003 |
| Employees |
16 full-time employees
Employment of all employees will be ended when business is shut down |
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All product and company names appearing in this text are the registered trademarks of their respective companies.
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For further information, please contact
Yamaha Corporation
Corporate Communication Group,
Public Relations Division
TEL. +81-3-5488-6601
FAX +81-3-5488-5060
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