Yamaha is leaving California after nearly 50 years

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Yamaha Motor Corp.is relocating part of its operations to Georgia and selling its California assets after 47 years.

The company is the latest among a slew of businesses to relocate operations outside the Golden State to cut costs and improve profitability.Many cite high taxes and strict regulations as obstacles to doing business in the state.

Yamaha Motor Corp.U.S.A., the U.S.

subsidiary of Yamaha Motor Co., has been based in Cypress since 1979.It will begin its move to Kennesaw, Ga., at the end of this year and complete the moving process by the end of 2028, the company said in an announcement.

The company’s marine and motorsports business facilities already moved to Kennesaw in 1999 and 2019, respectively.The Cypress facility currently houses corporate functions and the financial services business on roughly 25 acres, the company said.

Business Bed Bath and Beyond executive chairman Marcus Lemonis said he won’t reopen retail stores in California, taking a shot at Gov.Gavin Newsom and calling the state a risky environment for business.Yamaha said it will sell all its land, offices, warehouses and other fixed assets in California.

It will use a sale-and-leaseback arrangement for a temporary period to ensure a smooth transition and business continuity.“This initiative is positioned as one of the Company’s key measures aimed at improving asset efficiency and enhancing profitability in the United States,” the company said in its announcement of the move.Yamaha “is undertaking structural reforms ...

in response to cost increases resulting from U.S.tariffs and changes in the market environment,” it said.Yamaha Motor was founded in Japan in 1955 and began selling its products in the U.S.

in 1960.The company got its start making motorcycles for racing and contests, and released its first boat motor in 1960.

It acquired land in Cypress in 1978 and established an of...