Yamaha Motor to manufacture motorcycles in Cambodia

Yamaha Motor Co., Ltd. and Toyota Tsusho Corporation have agreed to establish a ¥1.2 billion yen (US$11.42 million) company in Cambodia for the manufacture and marketing of motorcycles with the aim of strengthening the foundation of the motorcycle business in the Cambodian market. The new company, officially established in August 31, 2008, is named Yamaha Motor Cambodia Co., Ltd. (YMKH). Ownership will be shared by Yamaha Motor, Toyota Tsusho and Cambodia’s Kong Nuon Import & Export Co., Ltd. at 70%, 20% and 10%, respectively. Since March 2007, Asia Motors, a joint venture company between Toyota Tsusho and Kong Nuon Import & Export, has been assembling and marketing motorcycles with parts and components supplied as semi knocked-down kits by Thai Yamaha Motor. YMKH will begin operations by taking over operations at the Asia Motors factory and the Asia Motors sales network.A 94,890 square meter lot will be acquired in Phnom Penhs special economic zone for the construction of a new factory. The initial target for the new company is to expand motorcycle sales to 30,000 units by 2010, after the start of production at the new factory. (September 5, 2008)