Yamaha (JP:7951) has released an update.
Yamaha Corporation has announced its decision to sell 18 million shares of Yamaha Motor Co., reducing its stake from 4.47% to 2.75%. The sale is part of Yamaha’s policy to hold cross-shareholdings only when it contributes to sustainable growth and value enhancement, but will maintain a cooperative relationship with Yamaha Motor. The proceeds from the sale will be disclosed in the future, and while there will be minimal impact on consolidated income, gains from the sale will be recorded as extraordinary income in the non-consolidated financial statements.
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