Yamaha Renames SOQI; Spins Off Shock Division
January 3, 2006
Filed under Uncategorized
SOQI, Inc., a wholly owned Japan-based subsidiary of Yamaha Motor Co., Ltd., was renamed Yamaha Motor Powered Products Co., Ltd., effective January 1, 2006.
SOQI is a manufacturer of Yamaha brand powered products including all-terrain vehicles, golf cars and generators, as well as suspension components.
Yamaha officials say the name change will allow the subsidiary company to become better known as a member of the Yamaha Motor Group, and improve the sense of unity among the group companies.
Concurrent with the name change, SOQI will spin off its shock absorber manufacturing division and transfer its functions to a new wholly owned subsidiary. Effective January 1, 2006, the new company began operations as SOQI H·S Co., Ltd. (“H·S” representing “hydraulic system”).
Yamaha expects the establishment of SOQI H·S Co., Ltd. to bolster the company's business competitiveness by allowing it to specialize in the manufacture and sale of shock absorbing components.
In June 2005, Yamaha Motor Co., Ltd. turned SOQI into a wholly-owned subsidiary through a share exchange. SOQI principal shareholders included Yamaha Motor Co., Ltd., 78.9%; Yamaha Corporation, 3.2%; Kawakami Foundation, 2.0%. At the time, Yamaha officials said the purchase was made to promote quick decision-making, enhance management agility, and streamline and strengthen the production system.