Musical instrument manufacturer Yamaha Corporation announced that it will terminate its golf products business, including manufacturing, planning, development and sales.
The company stated that it plans to end product shipments to Japanese retailers on June 30, with other markets varying by region. It added that it would continue to provide after-sales services, including repairs and answers to customer inquiries, throughout applicable warranty periods.
Yamaha cited an “increasingly challenging” business environment due to intensified competition, deterioration in profit structure caused by foreign exchange fluctuations and rising raw material costs.
The business’ performance in the most recent fiscal year tallied nearly $21 million in revenue with a core operating loss of approximately $6.3 million. Yamaha anticipates about $12.5 million in business restructuring expenses.
The company entered the golf business in 1982, leveraging its metalworking technologies and experience in material development. Examples of developed and marketed clubs include the RMX and INPRES series.
