Yamaha Motor Co., Ltd. and its wholly-owned consolidated subsidiary for outboard motor and other marine engine manufacture, Yamaha Marine Co., Ltd. adopted a resolution approving a merger at their respective board of directors meetings Oct. 16. Based on this resolution, Yamaha Motor Co., Ltd. will be the surviving company.
In addition, Yamaha Motor Co., Ltd. and Yamaha Motor Powered Products Co., Ltd. – the wholly-owned consolidated subsidiary for the manufacture of all-terrain vehicles and other power products – agreed to effect a divestiture transferring the golf car business to Yamaha Motor Powered Products Co., Ltd. in their respective board of directors meetings.
Yamaha says the merger and the divestiture are part of a structural reform to meet intensifying competition in a changing global business climate and further enhance the Company's overall competitiveness. The merger and the divestiture are scheduled to be effective on Jan. 1.