New Delhi, Sept. 29
YAMAHA Motor India on Thursday announced that it has spun off its sales and marketing division to form Yamaha Motor India Sales Ltd.
The new entity will be a wholly owned subsidiary of Japan's Yamaha Motor Co Ltd and will focus on domestic sales, marketing and after-sales services. The incorporation of Yamaha Motor India Sales Ltd is indicative of Yamaha's corporate strategy for India, which the company sees as a major market and manufacturing centre, a Yamaha release said.
The new company, to be headed by Mr T. Maeda, Director for Marketing, will commence operations from October 1. Mr Maeda will be assisted by Mr Atul Gupta as Head of Sales and Marketing.
According to the company, this step would enable Yamaha Motor India to drive into a new growth phase. Announcing the incorporation of the new company, the Yamaha Motor India CEO and Managing Director, Mr H. Yanagi, said, "We plan to consolidate our position in India as it is a key market for us and we are bullish on it for growth. Integrating our sales and marketing operations in the new company will enhance our business activity in India."
The new subsidiary would co-exist with the company's current subsidiary, Yamaha Motor India, and would engage in trading of two-wheelers and parts manufactured by Yamaha Motor India. According to sources, the new subsidiary would also engage in trading of two-wheelers and products from Yamaha's global portfolio, which are currently not available in India.
Industry analysts point out that the establishment of the new subsidiary could be aimed at facilitating the launch of scooters in the domestic market. Yamaha has been conducting a feasibility study for rolling out scooters in India, which in the initial stages are likely to be imported from the company's plant in Thailand. The company in recent months has also hinted at the possibility of importing premium, high-powered motorcycles into India. Yamaha's new subsidiary also has permission from the Foreign Investment Promotion Board to engage in trading of other products, including all-terrain vehicles, generators, multi-purpose engines, water pumps, electric hybrid bicycles, racing karts, and golf cars, among other products manufactured by Yamaha Group companies outside India.