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Notice of Decision to Close Overseas Subsidiary
(Audio Visual Land) |
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Tokyo, Japan, October 24, 2003 – Yamaha Corporation announces that it has decided to close Audio Visual Land (Singapore), a wholly owned subsidiary of Yamaha Music (Asia) Pte., Ltd., which is Yamaha Corporation's musical instruments sales subsidiary in Singapore.
Established as a wholesaler of audiovisual equipment and musical instruments, Audio Visual Land had suspended operations and transferred its business responsibilities to its parent—Yamaha Music (Asia)—as part of that company's restructuring. However, Yamaha Corporation has now decided to close Audio Visual Land entirely. Yamaha Corporation management believes that liquidation-related costs will be virtually zero, and that the closure of Audio Visual Land will not affect consolidated earnings.
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Company name
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Audio Visual Land (established in 1992)
Wholly owned subsidiary of Yamaha Music (Asia) Pte., Ltd., Yamaha Corporation's musical instruments sales affiliate in Singapore.
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| Location |
Singapore
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| Representative |
Kiyoshi Nakajima (president, Yamaha Music (Asia))
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| Capital |
2,000,000 S$ (100% invested by Yamaha Corporation)
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| Business fields |
Wholesale of audiovisual and musical instruments
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| Employees |
No local employees
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| Liquidation date |
December 31, 2004 (tentative)
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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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