Yamaha to set up new subsidiary for India
Yamaha Motor Co Ltd Japan (YMC) announced the setting up of a new Yamaha Motor India Pvt Ltd (YMI) company which was the final step in the restructuring of its operations in the subcontinent. The new division would function as the regional headquarters and corporate control body for its Indian business.
The new company will oversee corporate planning and strategy, business planning and expansion and regional control of Yamaha's business in India. Current CEO and managing director of India Yamaha Motor (IYM), Hiroyuki Suzuki has been appointed as the managing director of YMI and Takashi Terabayashi who was deputy managing director of IYM will now take over as the new managing director of IYM.
Speaking at the press conference Hiroyuki Suzuki said, "With the formation of a regional control company now, we aim to set up a strong corporate governance framework that would help in achieving the objective of being a true professional conglomerate."
This restructuring has resulted in a number of separate verticals The new company Yamaha Motor India Pvt Ltd, India Yamaha Motor (IYM) that takes care of manufacturing, Yamaha Motor India Sales (YMIS) for sales functions and Yamaha Motor Research & Development India (YMRI) for R&D functions. According to Yamaha, separating the Indian operations into these separate verticals was necessary to improve organisational efficiency and to enhance functional focus.
Yamaha sets up Regional Control Company for India
|Gears up for next level of growth with the completion of India business restructuring Mumbai, 8th August 2014: Yamaha Motor Co., Ltd., Japan (YMC) today announced the completion of its India business organization restructuring exercise with the re-start of Yamaha Motor India Pvt. Ltd. (YMI) as the Regional Control Company for India Operations. The company would function as the regional headquarters and corporate control body of India business operations for YMC. Effective August 15, 2014, Mr. Hiroyuki Suzuki, CEO & Managing Director of India Yamaha Motor has been appointed as the Managing Director of YMI while he would also function as the Chairman of the other Yamaha Group companies in India India Yamaha Motor Pvt. Ltd. (IYM), Yamaha Motor India Sales Pvt. Ltd. (YMIS) and Yamaha Motor Research & Development India Pvt. Ltd. (YMRI). Further, Mr. Takashi Terabayashi, Deputy MD of IYM would be the new Managing Director of IYM. Yamaha Motor India Pvt. Ltd. (YMI) would be responsible for Corporate Planning & Strategy, Business Planning & Business Expansion, Quality Control, and Regional Control of Yamaha India Business. IYM would be the manufacturing company under the new organization structure while YMIS & YMRI would continue to independently support IYM for sales & marketing and development of its products respectively. Announcing the completion of the India business organization restructuring, Mr. Hiroyuki Suzuki said, "The restructuring is part of Yamaha's mid-term plan and is aimed at improving organizational efficiency by enhancing functional focus. The objective of setting up independent vertical for Manufacturing, Sales & Marketing and R&D was to enhance the functional focus thereby excelling in these three core areas of our business. With the formation of a regional control company now, we aim to set up a strong corporate governance framework that would help in achieving the objective of being a true professional conglomerate." YMI along-with YMIS and YMRI would function as 100% subsidiaries of YMC while IYM would continue to have joint investment from YMC and Mitsui & Co., Ltd.|
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