TOKYO (dpa-AFX) - Yamaha Motor Co. (YAMHF.PK), a Japanese automotive major, said on Friday that it has commenced considerations for the merger of its subsidiary, Yamaha Motor Powered Products Co., Ltd. or YMPC, a maker of golf cars and land cars or LLV.
The merger, in which the parent company will be the surviving entity, is scheduled to be completed by January 2027.
Prior to the merger, YMPC's business activities related to LLV, including development, business planning, product planning, sales, and services, will be transferred to Yamaha Motor with effect from January 1, 2025.
'The company aims to achieve further growth of the LLV business with this merger by enhancing the development speed and quality of LLV products by consolidating the intellectual property, advanced development, and electric vehicle development expertise and resources of both YMPC and Yamaha Motor Co., Ltd.,' Yamaha Motor said in a statement.
In connection with the transfer of business, the company said that there are no plans to close business units, manufacturing sites, and staff reductions.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
