February 6, 2008

Consolidation of Musical Instruments and Audio Visual (AV) Equipment Sales Companies in Three European Countries

Yamaha Corporation (Head Office: Hamamatsu, Shizuoka Prefecture; Representative: Mitsuru Umemura; hereinafter, Yamaha) announced today that it has decided to implement steps, beginning in April 2008, to consolidate its AV equipment sales companies with its musical instruments sales companies to form one sales company for these products in each of Germany, France, and the United Kingdom.

This consolidation is part of measures being implemented in the region under Yamaha’s medium-term business plan, “Yamaha Growth Plan 2010 (YGP2010),” to consolidate musical instruments and AV equipment sales capabilities, with the objectives of realizing maximum synergies in the sales of musical instruments and AV equipment as well as simultaneously improving management efficiency through the consolidation of distribution capabilities.

In Germany and France, Yamaha’s AV equipment sales company will be absorbed into Yamaha’s musical instruments sales company. In the United Kingdom, the operations of the AV equipment sales company will be transferred into the musical instruments sales company, and the AV equipment sales business will be reorganized as a department of the musical instruments sales company. The U.K. subsidiary formerly responsible for AV equipment will cease operations.

The outline of the consolidation by country is shown below. Please note that the impact of this consolidation of operations in Europe on Yamaha’s consolidate performance will be minimal.

Outline of Consolidations by Country

1.	Consolidation of Sales Companies in Germany (Scheduled for Completion in April 2008)
	◊Outline of AV equipment sales company to be absorbed in the consolidation
	Company name	:	Yamaha Elektronik Europa GmbH (YEE)
	Location	:	Rellingen, Germany
	Representative	:	Yasuaki Gyoten
	Paid-in capital	:	4.1 million euros (100% owned by YMCE)
	Lines of business	:	Import and sale of AV products
	Date of establishment	:	March 25, 1981

	◊Outline of the musical instruments sales company after consolidation
	Company name	:	Yamaha Music Central Europe GmbH (YMCE)
	Location	:	Rellingen, Germany
	Representative	:	Yasuaki Gyoten
	Paid-in capital	:	10.452 million euros (100% owned by YMHE*)
	Lines of business	:	Import and sale of musical instruments as well as PA and AV products, management of music schools
	Date of establishment	:	July 25, 1966

2.	Consolidation of Sales Companies in France (Scheduled for Completion in May 2008)
	◊Outline of the AV equipment sales company to be absorbed in the consolidation
	Company name	:	Yamaha Electronique France (YEF)
	Location	:	Croissy-Beaubourg, France
	Representative	:	Bernard Weil
	Paid-in capital	:	1.824 million euros (100% owned by YMF)
	Lines of business	:	Import and sale of AV equipment
	Date of establishment	:	March 12, 1988

	◊Outline of the sales company after consolidation
	Company name	:	Yamaha Musique France (YMF)
	Location	:	Croissy-Beaubourg, France
	Representative	:	Bernard Weil
	Paid-in capital	:	1.2 million euros (100% owned by YMHE*)
	Lines of business	:	Import and sale of musical instruments as well as PA and AV equipment
	Date of establishment	:	January 11, 1973

3.	Consolidation of Sales Companies in the United Kingdom (Transfer of Operations to Be Completed in June 2008)
	◊AV equipment sales company whose operations will be transferred
	Company name	:	Yamaha Electronics (UK) Ltd. (YEUK)
	Location	:	Watford, U.K.
	Representative	:	Kenichiro Kamoshida
	Paid-in capital	:	1.0 million U.K. pounds (100% owned by Yamaha Corporation)
	Lines of business	:	Import and sale of AV products
	Date of establishment	:	January 1, 1986

	◊Outline of the sales company after consolidation
	Company name	:	Yamaha Music U.K. Ltd. (YMUK)
	Location	:	Milton Keynes, U.K.
	Representative	:	Andrew Kemble
	Paid-in capital	:	25,000 U.K. pounds (100% owned by YMHE*)
	Lines of business	:	Import and sale of musical instruments as well as PA and AV equipment
	Date of establishment	:	February 13, 1968

*	Yamaha Music Holding Europe GmbH (YMHE) (Regional management and holding company for Yamaha Group companies in Europe)

For Reference

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For further information, please contact

Yamaha Corporation

Public Relations Division, Public Relations Group

TEL. +81-3-5488-6601
FAX. +81-3-5488-5060


	Visit Yamaha's website at http://www.global.yamaha.com/