Aug 27, 2012

Yamaha Motor to establish sales company in Myanmar

Yamaha Motor Co. has announced it will establish a company to sell its two-wheeled vehicles in Myanmar, becoming the first Japanese motorbike manufacturer to set up operations in the Southeast Asian country since its government began democratic reforms.

According to an estimate by the Asian Development Bank, the country's economy will continue to achieve a high annual growth rate of 7 to 8 percent in the future. Myanmar is also expected to become a middle-income country, with per capita income increasing to 2,000 dollars to 3,000 dollars (about 157,000 yen to 236,000 yen) by 2030. Given such estimates, Yamaha believes the demand for two-wheeled vehicles will rapidly increase in the country.

The firm said it will petition Myanmar's authorities to open a representative office there in preparation for establishing the new company.

Yamaha started selling scooters produced in factories in Thailand and Indonesia through local sales outlets in Myanmar in October. However, the company now wants to use its own network to sell its products, to strengthen the brand's image in the country.

Yamaha aims to increase its sales volume of two-wheeled vehicles worldwide to at least 10 million units by 2015, 1.6 times its current level, focusing on high-growth markets in emerging and developing countries.

Source: The Yomiuri Shimbun