New Company Overseeing Yamaha's Global Financial Services Business in Full Operation - Strengthening Financial Services on a Global Scale per the Medium-Term Management Plan -
January 17, 2024
IWATA, January 17, 2024 - Yamaha Motor Co., Ltd. (Tokyo: 7272) is pleased to announce that Yamaha Motor Finance Corporation (YMFC), a group company established in the U.S. in November 2022 for overseeing and supporting the financial services business of the entire Yamaha Motor group, has acquired all of the shares of Yamaha Motor Finance Corporation, U.S.A. and Yamaha Motor Finance Canada Ltd. Furthermore, most of the operational and administrative roles of the business that had been handled by the Iwata headquarters have been transferred to YMFC. With this complete, YMFC will begin acting in earnest as the global head office for the Company's financial services business groupwide.
In addition to the governance and management roles that have until now been handled by the Iwata headquarters, YMFC will conduct as well as support more specialized and flexible business management practices in order to adapt to changes in the market environment, acquire secure and trustworthy financing, and work to share the know-how and strengths of each market. At the same time, YMFC will strive to bolster the following activities:
1. Enhancement of risk management and governance practices for the fast-growing financial services business
2. Promotion of innovations that actively incorporate advances in digital technology and reinforce business competitiveness
3. Strengthen and promote global management and utilization of human resources with financial services expertise
To this end, departments for consolidated risk management, innovation, and global human resources development will be established at YMFC. Following this transfer of shares in the U.S. and Canada, the Company plans to eventually merge its group companies operating financial services around the world and fully relocate all the business' relevant roles and functions from the headquarters.
In the Medium-Term Management Plan (2022-2024) announced in February 2022, Yamaha Motor positioned its financial services business as an important core business acting to support other existing core businesses. By establishing and strengthening the Company's global business operating structure as well as sharing the well of knowledge and talent across the entire group, Yamaha Motor aims to make it easier for customers to purchase Yamaha products and services, which will not only connect to greater product sales and service offerings but also lead to sustainable growth of the financial services business itself.
■Contact us from the Press
Corporate Communication Division, PR group: +81-538-32-1145
■News Center: https://global.yamaha-motor.com/news/
In addition to the governance and management roles that have until now been handled by the Iwata headquarters, YMFC will conduct as well as support more specialized and flexible business management practices in order to adapt to changes in the market environment, acquire secure and trustworthy financing, and work to share the know-how and strengths of each market. At the same time, YMFC will strive to bolster the following activities:
1. Enhancement of risk management and governance practices for the fast-growing financial services business
2. Promotion of innovations that actively incorporate advances in digital technology and reinforce business competitiveness
3. Strengthen and promote global management and utilization of human resources with financial services expertise
To this end, departments for consolidated risk management, innovation, and global human resources development will be established at YMFC. Following this transfer of shares in the U.S. and Canada, the Company plans to eventually merge its group companies operating financial services around the world and fully relocate all the business' relevant roles and functions from the headquarters.
In the Medium-Term Management Plan (2022-2024) announced in February 2022, Yamaha Motor positioned its financial services business as an important core business acting to support other existing core businesses. By establishing and strengthening the Company's global business operating structure as well as sharing the well of knowledge and talent across the entire group, Yamaha Motor aims to make it easier for customers to purchase Yamaha products and services, which will not only connect to greater product sales and service offerings but also lead to sustainable growth of the financial services business itself.
■Contact us from the Press
Corporate Communication Division, PR group: +81-538-32-1145
■News Center: https://global.yamaha-motor.com/news/
