Yamaha Motor Co., Ltd. announces that it tendered a portion of common shares it holds in Yamaha Corporation in a share repurchase through the Off-Auction Own Share Repurchase Trading (ToSTNeT-3) carried out by Yamaha Corporation on August 25, 2021 (hereinafter referred to as the “Transaction”), and its result has been finalized, as follows.
Yamaha Corporation and Yamaha Motor use the same Yamaha brand. We are undertaking various measures in collaboration with Yamaha Corporation through the Joint Brand Committee and under the Yamaha Brand Charter and Joint Brand Regulations. Both companies appropriately monitor measures for mutual sustainable growth through shareholdings and dispatching Directors. We believe that maintaining and improving the value of the Yamaha brand by building a monitoring and collaborating relationship with Yamaha Corporation will contribute to the medium- to long-term enhancement of Yamaha Motor’s corporate value.
On the other hand, our basic policy on cross-shareholding is to hold shares under cross-holdings when it is deemed necessary and appropriate in order to enhance corporate value from a medium- to long-term perspective.
We will continue to maintain the collaborative relationship with Yamaha Corporation; however, after exhaustive discussions on the level of shareholding in Yamaha Corporation in light of asset efficiency and other aspects, we have decided to reduce our shareholding ratio.
If it becomes necessary to revise the consolidated earnings forecast for the fiscal year ending December 31, 2021, we will promptly disclose such revision.