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Yamaha Completes Partial Stake Sale in Yamaha Motor

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Yamaha (TYO:7951) has completed the sale of 14 million shares that it held in Yamaha Motor (TYO:7272), according to a Tokyo bourse filing on Thursday.

Yamaha's stake in the auto maker will decline to about 14.9 million shares from 28.9 million shares previously.

Following the sale, Yamaha will report a gain on sales of investment securities totaling 24.9 billion yen in its non-consolidated financial statements.

Shares of Yamaha rose more than 1% while those of Yamaha Motor fell more than 3% in recent trade.

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