Yamaha puts Canadian financials under U.S. umbrella

Posted on 11 October 2011

ShareTweet

The board of Yamaha Motor Co. voted to transfer all shares of Yamaha Motor Canada Ltd. to its American subsidiary, Yamaha Motor Corp. U.S.A., the company said in a statement on its website.

The transfer, to be completed by Dec. 31, will see Yamaha U.S. assume additional responsibilities for financial reporting and audit. The move will allow Yamaha Canada to draw a centralized financial report from a single North American operation, similar to its Yamaha Europe, Yamaha South America and Yamaha Asia subsidiaries.

“The investment arrangement will not impact [Yamaha Motor Canada’s] organizational structure,” the company said in a statement. “[Yamaha Motor Canada] will maintain all of its current independent responsibilities to serve the Canadian dealers and customers. The change is part of the ongoing business reform process for [Yamaha] to simplify reporting for North American business.”

Yamaha Motor Canada joins nine other subsidiaries, including Yamaha Motor Manufacturing Corp. of America, Skeeter Products Inc. and Tennessee Water Craft Inc., under the Yamaha Motor Corp. U.S.A ownership portfolio.

Comments

2 Tuesday, 11 October 2011 23:58

By Mark Spacey

Not necessarily. You'll need to get permission from the Ben the Emporer...

1 Tuesday, 11 October 2011 15:21

By JamesS

Does this mean that we'll finally be able to ship boats with engines into Canada?

Add your comment

Your name:	Required, screen names acceptable
Your email:	Required, will not be published
Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.:
Word verification:
	Post Preview

yvComment v.1.21.1