I don't know what will be the “best” business model for motorcycle manufacturers…..maybe Yamaha wants you to sit on the same motorcycle for 15 years….and the other manufacturers want you to change motorcycles every 2 or 3 years…. I don't know which of these business models has the best results…..but over the years, at least Yamaha continues to be its own owner….while the other manufacturers (more aggressive in their market position), no longer they also own themselves…..50% of KTM belongs to BAJAJ……and I don't know in what percentage, but that BLACK ROCK owns a part of BMW motorcycles, I don't think it is the “best partner”…. .Perhaps that Yamaha is dedicated to "buying" other companies, or that a very small percentage of capital is exchanged with another Japanese company (Toyota)...Anyhow, it just looks from the outside that Yamaha is doing the opposite of every other manufacture in the world.
It does not mean anything to the consumer who "needs" a new model of motorcycle every 2 or 3 years…..but as a business model, perhaps it is better, better than associating with capital that sooner or later will end up “eating” you……