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Dissolution of Overseas Subsidiary
(Notice of Decision to Dissolve Overseas Subsidiary)
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YAMAHA CORPORATION announced today that it has decided to dissolve Music Plaza Pte. Ltd. (MPZ). MPZ is a wholly owned subsidiary of Yamaha Music (Asia) Pte., Ltd. (YMA), which is Yamaha Corporation’s wholly owned musical instrument sales subsidiary in Singapore.
MPZ was established in 1988 to exhibit and market products sold under brands well-known including the YAMAHA brand. Subsequently, the marketing strategy was changed to a strategy focused on YAMAHA products and, with the goal of promoting a more-unified brand strategy, musical instrument marketing operations were progressively consolidated within YMA, which had previously been responsible for music school and AV product marketing operations. This led to the effective suspension of operations by MPZ from last year.
As it is now generally understood that YMA will handle musical instrument marketing operations within Singapore, the decision was made to dissolve MPZ.
The dissolution will not entail significant expenses, and the decision to dissolve MPZ will not affect consolidated results. |
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| The Subsidiary to Be Dissolved |
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| Company name: |
Music Plaza Pte. Ltd. (a wholly owned subsidiary
of Yamaha Music (Asia) Pte., Ltd., which is Yamaha
Corporation’s wholly owned musical instruments
sales subsidiary in Singapore.) |
| Location: |
Singapore |
| Representative: |
Kiyoshi Nakajima, President (concurrently
serving as president of Yamaha Music (Asia) Pte.,
Ltd.) |
| Paid-in capital: |
S$100,000 |
| Business: |
Sale of musical instruments |
| Employees: |
The company currently has no employees. |
| Liquidation date: |
September 30, 2006 (scheduled)
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For further information, please contact
YAMAHA CORPORATION
Public & Investor Relations Group
Public Relations Division
Mr. Mike Tanaka
TEL +81-3- 5488-6601
FAX +81-3-5488-5060
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