Tokyo-The Yokohama Rubber Co., Ltd., announced today that it will dissolve its subsidiary, Yokohama Motorsports International Co., Ltd. (YMI), dedicated to motorsports activities effective on June 30, 2017, and transfer the subsidiary's operations to a new internal Motorsports Department that will be established on May 1.
YMI was established in April 2013 to promote and supervise YOKOHAMA's motorsports activities, including the development and supply of tires for motor racing competitions. Since its establishment, the subsidiary has contributed to a diverse range of motorsports events by supplying YOKOHAMA tires, including many competitions that have adopted YOKOHAMA tires as their control tire, such as the Japanese SUPER FORMULA Championship series, GT Asia, the Sepang 12 Hours endurance race, the All-Japan Formula 3 Championship Series, and the FIA World Touring Car Championship (WTCC), and many other racing series, including SUPER GT races. Given the Company's plans to further expand and broaden its motorsports activities around the world, it was decided that an internal organization would be better able to effectively supervise and coordinate these important activities. Hence, the subsidiary is being dissolved and replaced by an internal organization, the Motorsports Department.
Yokohama Rubber's worldwide motorsports activities contribute to the globalization of the Company's tire business and greater recognition of the YOKOHAMA brand. It also promotes the growth, development and revitalization of the motorsports market and the automobile industry as a whole.
Outline of subsidiary being dissolved
(1) Name: Yokohama Motorsports International Co., Ltd.
(2) Head office: 36-11, Shimbashi 5-chome, Minato-ku, Tokyo
(3) Representative Director: Yoshiaki Abe
(4) Business: Planning, development, design, and sales of tires for racing competitions; Planning and management of promotions for motorsports activities
(5) Capital: ¥10 million
(6) Date established: April 1, 2013
(7) Shareholders: Yokohama Rubber Co., Ltd. 100%