Yamaha closes overseas subsidiary of audio visual

Saturday, October 25, 2003

Yamaha closes overseas subsidiary of audio visual

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Yamaha Corporation announced that it has decided to close Audio Visual Land (Singapore), a wholly owned subsidiary of Yamaha Music (Asia), which is Yamaha Corporation’s musical instruments sales subsidiary in Singapore.

Established as a wholesaler of audiovisual equipment and musical instruments, Audio Visual Land had suspended operations and transferred its business responsibilities to its parent—Yamaha Music (Asia) — as part of that company’s restructuring. However, Yamaha Corporation has now decided to close Audio Visual Land entirely. Yamaha Corporation management believes that liquidation - related costs will be virtually zero, and that the closure of Audio Visual Land will not affect consolidated earnings.