Yamaha Canada is no more

[Bill310]

From the Yamaha Corp Website September 27, 2011

Today's meeting of the Board of Directors of Yamaha Motor Co., Ltd. (the Company) voted to transfer all shares in the Canadian subsidiary, Yamaha Motor Canada Limited, to the U.S. subsidiary, Yamaha Motor Corporation, U.S.A. Profits from the sale of shares in the subsidiary will be recorded as extraordinary profits in the Company's financial statement for the period ending December 2011 (January 1 2011 - December 31 2011).
The share transfer will have no impact on consolidated business performance.

1.Background Yamaha Motor Canada Limited is the importer and domestic distributor of Yamaha Motor products in Canadian markets, while Yamaha Motor Corporation, U.S.A. performs the equivalent role in the United States. The share transfer creates a more efficient regional management structure under which Yamaha Motor Corporation, U.S.A. will assume responsibility for all North American territories.

2.Overview
(1)The company whose shares are to be transferred
Corporate name
Yamaha Motor Canada Limited
Location
480 Gordon Baker Road, Toronto, Ontario M2H 3B4, Canada
Representative
Hirotoshi Fujita
Main business
Import and sale of Yamaha Motor products
Capitalization
CAD 10,000,000
Founded
April 12, 1973
Shareholders
Yamaha Motor Co., Ltd. (100%)

(2)The company receiving the shares
Corporate name
Yamaha Motor Corporation, U.S.A.
Location
6555 Katella Avenue, Cypress, CA, 90630, U.S.A.
Representative
Toshizumi Kato
Main business
Import and sale of Yamaha Motor products
Capitalization
USD 185,020,000
Founded
October 20, 1976
Shareholders
Yamaha Motor Co., Ltd. (100%)

(3)Transfer contract amount:USD equivalent of CAD 165 million (calculated at exchange rate specified in transfer contract)

(4)Proposed transfer contract dateecember 1, 2011

(5)Proposed completion of transferecember 31, 2011

(6)Number of shares transferred:1,000,000 (100%)

3.Impact on business performance
Under the transfer contract, the extraordinary profits associated with the sale of shares in the subsidiary are expected to be 10,611 million yen for the period ending December 2011 (January 1 2011 - December 31 2011), based on the exchange rate as of September 22 (76 yen = CAD1).
This will have no impact on consolidated business performance.


And now the October 4th Tweet

Yamaha CanadaShare 2retweetTue, October 4th, 2011 @ 6:55 pm, by Jensen Beeler2 COMMENTS
Home » News » Yamaha USA Swallows Up Yamaha Canada


The past recession, and its possible double-dippig nature, still has the motorcycle industry on its heals. This fact can be no better exemplified than by the latest move from Yamaha, whose board of directors recently voted to merge its North American operations under one roof. In an effort to restructure itself more appropriately, Yamaha Motor Canada will become a subsidiary of Yamaha Motor USA, which would in turn take responsibility for the entire North American market.

Yamaha likely is undertaking the move because of the operational similarities between the previously separate entities, not to mention the savings involved by reducing the redundancy). The move places Yamaha Canada as one of Yamaha USA’s 10 subsidiary divisions, which includes the company’s North American manufacturing, Skeeter Products, Tennessee Watercraft, and six others. The result of this business move should have little impact on what consumers in either the US or Canadian market experience.

Source: Yamaha Motor Corporation via Motorcycle.com

 

[rem]

Well, I can tell you right now that nobody ran this past me. R

 

[Bill310]

Well, I can tell you right now that nobody ran this past me. R

::022:: So I guess all the Canadian bikes will drop in price next year? ::022::

::015:: ::002:: ::015::

 

[tc9988]

from the Yamaha Canada website

Toronto, ON – October 5, 2011 – The Board of Directors of Yamaha Motor Co., Ltd. (YMC) have voted to transfer all shares of Yamaha Motor Canada Ltd. (YMCA), to its American subsidiary, Yamaha Motor Corporation, U.S.A. (YMUS).

The transfer, to be completed by December 31, 2011, will see YMUS assume additional responsibilities for financial reporting and audit. The move will allow YMC to draw a centralized financial report from a single North American operation, similar to their Yamaha Europe, Yamaha South America and Yamaha Asia subsidiaries.

The investment arrangement will not impact YMCA’s organizational structure. YMCA will maintain all of its current, independent responsibilities to serve the Canadian dealers and customers. The change is part of the on-going business reform process for YMC to simplify reporting for North American business.

YMCA joins nine other subsidiaries, including Yamaha Motor Manufacturing Corporation of America, Skeeter Products Inc., and Tennessee Water Craft Inc., under the YMUS ownership portfolio.

 

[Maybert]

"The past recession, and its possible double-dippig nature, still has the motorcycle industry on its heals. This fact can be no better exemplified than by the latest move from Yamaha, whose board of directors recently voted to merge its North American operations under one roof. In an effort to restructure itself more appropriately, Yamaha Motor Canada will become a subsidiary of Yamaha Motor USA, which would in turn take responsibility for the entire North American market."

Mexico is part of North America

Just sayin'

 

[colorider]

Well, I can tell you right now that nobody ran this past me. R
[/quote

There's a reason they didn't....

How will this affect the sponsership that you were hoping to have for the Tenere meet next year???

 

[rem]

I dunno. I'll have to go talk to the boys at Yukon Yamaha. I'm thinking Troll is going to have to come good for it.
He works for the government, so he'll be loaded. >

I'll talk to YY in the next couple days. My guess is they don't even know about it yet. R

 

[RCDantzscher]

ya, see what happens when Boston beat Vancouver in the Cup? Otherwise, US Yami would have gone north... ::018::

 

[johnnail]

so................do we get the xt660z now? 8^)

 

[rem]

I stopped by Yukon Yamaha this morning. They don't know nuthin' 'bout nuthin'. I figured. I'll let you know if I find out anything more. R

 

[digitalmoto]

I stopped by Yukon Yamaha this morning. They don't know nuthin' 'bout nuthin'. I figured. I'll let you know if I find out anything more. R

I already made reservations so I expect full entertainment the week I'm in Whitehorse regardless of Yamaha Canada's participation.

 

[rem]

I would never disappoint. I'll have my Speedo dry cleaned, and have my wife let it out. Some more. R

 

[Buckeye56]

I would never disappoint. I'll have my Speedo dry cleaned, and have my wife let it out. Some more. R

Hey Rem, that's TMI!

 

[digitalmoto]

I would never disappoint. I'll have my Speedo dry cleaned, and have my wife let it out. Some more. R

I read that and started laughing. Then my wife pointed out that I was snorting. Oops.

 

[Mike Sisson]

I would never disappoint. I'll have my Speedo dry cleaned, and have my wife let it out. Some more. R

::025::

 

[rem]

Well, Digitalmoto never specified the quality of the entertainment ..... he just expected full entertainment .... If you think this is going to be overly stimulating for you guys, I can tone it down a bit. Let me think about it a while.

The last time I put on a show like that, the place was packed with 80 year old bar maids. It took an hour to get both of them out of there. Hey, when you got it, you got it ....... R

 

[SisuTen]

I would never disappoint. I'll have my Speedo dry cleaned, and have my wife let it out. Some more. R

Definitely another suspect visual there, Rem.

Add in cracking walnuts with your butt cheeks and you may have the makings of a paying stage show up there in Whitehorse on Ladies Night. New retirement income! ::025:: ::025:: ::025:: ::025::

 

[rem]

I think I grossed myself out on that one. Ewwwwwww. R ::006::

 

[Tremor38]

This just in, not only has Yamaha Canada been merged into Yamaha USA, but Canada has just been annexed as the 51st state, and Quebec was once again denied separate country status.

 

[rem]

There goes the neighborhood .... uh, neighbourhood, eh ?? R