Yamaha Corp. is considering closing two of its seven resort facilities, including Japan's largest equestrian club, in a restructuring move, the company's president said Friday.
"We'll consider whether the seven facilities should be operating three to five years later," Shuji Ito told Kyodo News, indicating that the company may shut down all resort operations.
One of the two facilities Yamaha is considering closing is Tsumagoi, an equestrian club in Kakegawa, Shizuoka Prefecture.
Although Tsumagoi is the best equestrian club in Japan, "we are struggling to match" its reputation with profitability, Ito said.
Built on 1.7 million sq. meters, the club began operating in 1974 and has facilities suited for international competition.
Yamaha is also considering closing its Nemu no Sato hotel and cottage complex in the Ise-Shima National Park area in Mie Prefecture.
Nemu no Sato has a music hall and sport facilities on 3 million sq. meters and can accommodate 800 people. It is designed for low-cost, long-term stays by young people.
The operation of the complex, which began in 1967, has become costly, Ito said.
Yamaha has incurred an annual operating loss of 1 billion yen to 2 billion yen in recent years from resort operations, which also include skiing and marine sports facilities.