[LeArc] Fw: Letter from Dennis M at Yeasu

[Jesse Risley]

> From Dennis, K7BV: 
> 
> Friends, 
> 
> By now, many of you may have heard that Vertex Standard Co., Ltd,
> (Vertex Standard USA's parent company) announced that they have agreed
> to form a collaborative joint venture with Motorola, Inc. I personally
> believe the most important words in this sentence are "collaborative
> joint venture“ a business relationship that indicates a far different
> outcome intent than the demise of one of the venture partners. 
> 
> Since Yaesu is the Amateur Radio Division of Vertex Standard, I am sure
> you are just as curious as me, a Yaesu employee with a job at stake, to
> know what this business transaction will mean to all of us in the hobby.
> Predictably, I see that the news about the pending new Motorola
> relationship with Vertex Standard, hence Yaesu, is giving life to all
> sorts of misinformation and "doomsday". Internet postings by the usual
> cast of characters who always seem to know so much more about things
> than the rest of us mere mortals. After studying public announcements
> and considering the internal information that is made available to me in
> my role as the leadership individual for North American sales at Yaesu,
> I would like to offer the following FACTS about this exciting
> development. 
> Motorola, Inc. (NYSE: MOT) will launch a tender offer to acquire a
> controlling interest in Vertex Standard Co., Ltd. (JASDAQ: 6821). Upon
> successful completion of the tender offer and subsequent restructuring
> process, Motorola will own 80% of Vertex Standard and Toko Giken, a
> privately held Japanese company, controlled by Jun Hasegawa, current
> president and CEO of Vertex Standard, will retain 20%, forming a joint
> venture. On 5 November 2007, the Board of Directors of Vertex Standard
> expressed their support of the tender offer. Yaesu, of course, as one of
> the Vertex Standard operations, will be included in this exciting
> development. 
> 
> I want our Yaesu customers and concerned others to know the following
> about the proposed merger: 
> 
> Vertex Standard (meaning Yaesu to us in the Amateur Radio hobby) will
> remain a separate, global organization with distinct resources governed
> by the Board of Directors comprised of four Motorola representatives and
> one Toko Giken representative. Toko Giken is a privately held Japanese
> company, controlled by the founder’s family. It currently holds
> 29.2% shares of Vertex Standard. 
> 
> Mr. Jun Hasegawa (my boss), son of Sato Hasegawa JA1MP, the founder of
> Yaesu will continue to take part in the management of Vertex Standard in
> his capacity as the Representative Director, President and CEO of Vertex
> Standard after the Tender Offer. The day-to-day management of the joint
> venture will be the responsibility of Mr. Hasegawa and his senior
> leadership team, who are also expected to continue. Count me as one of
> those who will continue with Yaesu. 
> Our business will continue to be operated as is, and we will continue to
> actively develop new products and operate the business as a leading
> manufacturer of amateur radio, marine, land mobile, and airband radios. 
> 
> The Vertex Standard brand of equipment (Standard brand in Japan) will
> continue to exist. The current Vertex Standard brand strategies are
> highly respected by Motorola and will be continued. Since Motorola
> appreciates our Yaesu brand strategy, there will be no change to it. 
> There will NOT be a Motorola brand of Amateur Radio equipment replacing
> or competing with Yaesu. 
> 
> Yaesu customers can expect to see positive benefit from the fact that: 
> Vertex Standard has an experienced engineering team that, combined with
> Motorola's extensive engineering talent, will develop new innovative
> products. Personally, I cannot wait to see what this joint engineering
> effort will bring to Amateur Radio! 
> 
> Cost synergies will be realized through the use of Motorola's buying
> power to reduce the joint venture's costs for raw materials. Hams are
> known to enjoy seeking out the best buy for their hard earned money -
> expect to see Yaesu products remain highly competitive and providing
> excellent value for your investment. 
> 
> Because Mr. Hasegawa will continue to manage the day-to-day operations
> of Vertex Standard, we do not expect to see changes in the existing
> Yaesu dealership, pricing and rebate philosophies as a result of the
> joint venture. 
> 
> These are historic exciting times for Yaesu, our customers, and Amateur
> Radio. The future is bright and the potential for incredible
> technological advancements for Amateur Radio are immense. We are glad
> you will be there with us as the positive affects of the Vertex Standard
> / Motorola joint venture unfolds. 
> 
> 73, 
> Dennis Motschenbacher K7BV 
> k7bv at vxstdusa. com


"There is only one difference between a long life and a good dinner: that, in the dinner, the sweets come last."

Robert Louis Stevenson

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