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Yamaha Merges Two Subsidiaries in the Professional Audio Equipment Field

PRESS RELEASE


March 2008

Yamaha Corporation has announced that its Board of Directors, at their meeting held on March 21, 2008, has decided to merge two subsidiaries engaged in providing engineering services related to professional audio equipment, Yamaha Sound Technologies Inc. (Head Office: Chuo-ku, Tokyo; President: Shuji Fukushima; hereinafter, Yamaha Sound Technologies), and Fuji Sound Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President: Masahiro Isobe; hereinafter, Fuji Sound) with an effective date of January 1, 2009. The company formed in the merger will be Yamaha Sound Systems Inc. (hereinafter, YSS).

To strengthen its position in the professional audio equipment business, Yamaha purchased all the issued shares of Fuji Sound from Aso Corporation in February 2007 and has been collaborating with Yamaha Sound Technologies to enhance its business activities and position in the Japanese market. The merger of the two companies and creation of YSS will aim to further develop Yamaha’s activities in the professional audio equipment field by strengthening its management base and increasing its competitiveness in this field, based on enhancement of operating efficiency and synergies derived from the sharing of the know-how that will result from the merger and integration of the two companies.

Outlines of the method for the merger, the new company to be formed in the merger, and the two merging companies are as follows. Please note that this is a merger of two subsidiaries and, therefore, will not have a material impact on Yamaha’s consolidated performance.


Method for the Merger
Fuji Sound will be the continuing company and it will absorb the operations of Yamaha Sound Technologies, which will be dissolved.

Outline of the New Company to Be Formed through the Merger
Company name : Yamaha Sound Systems Inc. (YSS)
Address : 24-8, Kakigara-cho 1-chome, Nihonbashi, Chuo-ku, Tokyo
Lines of business : Planning, system design, installation, adjustment, maintenance, etc. related to professional audio systems as well as development and manufacturing of related equipment.
Paid-in capital : ¥49.6 million (100% invested by Yamaha)
Representative : To be decided
Number of employees : 140
Sales target : ¥6.0 billion in the third year following the merger
Scheduled date
of the merger : January 1, 2009

Outline of the Two Companies to Be Merged
Company name : Yamaha Sound Technologies Inc.
Representative : Shuji Fukushima, President and Representative Director
Address : 24-8, Kakigara-cho 1-chome, Nihonbashi, Chuo-ku, Tokyo
Date of establishment : 1962
Lines of business : Design, installation, adjustment, and maintenance of audio systems in auditoriums and other public facilities.
Paid-in capital : ¥100 million (100% invested by Yamaha)
Number of employees : 59

Company name : Fuji Sound Co., Ltd.
Representative : Masahiro Isobe, President and Representative Director
Address : 7-22 Rokuban-cho, Chiyoda-ku, Tokyo
Date of establishment : 1946
Lines of business : Design, development, manufacturing, installation, adjustment, and maintenance of professional audio equipment and audio systems
Paid-in capital : ¥49.6 million (100% invested by Yamaha)
Number of employees : 81
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