Yamaha Motor (TYO:7272) disclosed an indirect investment in its New Zealand-based subsidiary, Robotics Plus, through a capital increase at its US subsidiary, Yamaha Agriculture, according to a Thursday filing on the Tokyo Stock Exchange.
Following the investment, Robotics Plus' capital will exceed 10% of Yamaha Motor's total, officially classifying Robotics Plus as a specified subsidiary.
The capital increase, amounting to NZ$40 million, will raise Robotics Plus' capital to NZ$114.2 million, with Yamaha Agriculture retaining 100% ownership.
Robotics Plus, which specializes in automated apple packing machines and agricultural vehicles, has faced losses in recent years, with a significant drop in its financial position and profitability.
Shares of Yamaha Motor gained 2% in recent trade.
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