Yamaha (JP:7951) has released an update.
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Yamaha Corporation has announced a significant gain in non-consolidated financial statements from the sale of 18 million shares of Yamaha Motor Co., Ltd., resulting in ¥20,467 million of extraordinary income. The sale reduced Yamaha’s ownership from 4.47% to 2.75% of Yamaha Motor, and the proceeds will be used for a treasury stock repurchase. This transaction will have a minimal impact on the consolidated income statements due to the classification of these shares under IFRS.
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