Establishment of a Local Sales Subsidiary for Musical Instruments and Audio Equipment in the Philippines
Yamaha Corporation (hereinafter referred to as "Yamaha") announces that it has established a local sales subsidiary for musical instruments and audio equipment in the Republic of the Philippines, one of the emerging countries expected to show remarkable growth in the future.
While sales in this market were entrusted to local import agents in the past, the local sales subsidiary will take the lead in promoting the business with the aim of accelerating sales growth in the future.
Outline of the new sales subsidiary
|Name||Yamaha Music Philippines Inc.|
|Location||Makati City, National Capital Region, Republic of the Philippines|
|Product line||Musical instruments and audio equipment, etc.|
|Capital||120 million Philippine pesos (wholly owned by Yamaha)|
|Organization||19 employees (including 3 expatriates)|
|Sales target||¥4 billion in the fifth year of establishment|
- Note that the start of operations is scheduled for October 2023.