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.