market share in Japan with formation of new subsidiary 
Business Editors 
FRANKFURT, Germany--(BUSINESS WIRE)--Feb. 27, 1997--In an
effort to significantly increase its share of the grand piano market
in Japan, Steinway Musical Instruments Inc. (NYSE:LVB) announced an
aggressive plan to form a Japanese subsidiary placing the former
president of Yamaha Corp. of America, Tatsuya (Peter) Suzuki, at its
At a press conference held in conjunction with the International
Music Fair in Frankfurt, Germany, Bruce A. Stevens, president of
Steinway & Sons Worldwide stated that the new subsidiary, Steinway &
Sons Japan Ltd. will be headquartered in Tokyo and will begin
operations as of March 1, 1997.  Suzuki, in the post of president,
will oversee all future importing and wholesale operations for
Steinway & Sons Hamburg made pianos marketed in Japan. 
Commenting on today's announcement, Stevens stated that, "We are
very excited regarding the start-up of this new marketing and
distribution company in Japan.  And while Japan is currently the
largest export market for Steinway & Sons, the establishment of this
new marketing subsidiary, working together with a nationwide network
of quality dealers, will lead to further substantial growth of
Steinway piano sales in the world's second largest grand piano
market.  Suzuki's long and highly respected career in the music
industry both in Japan and America along with his comprehensive
knowledge of the Japanese market will provide Steinway & Sons Japan
Ltd. with solid leadership upon which to build this steady expansion
of our consumer sales in Japan." 
Previously, Steinway & Sons was represented exclusively in Japan
by H. Matsuo Musical Instruments Co. Ltd. which will continue as
the Steinway & Sons retailer in Kanto and Kansai, the most populous
regions in Japan, which include the cities of Tokyo, Osaka, Kobe and
Kyoto.  In a second, related announcement, Steinway & Sons and H.
Matsuo Musical Instruments Co. Ltd. said they will set up a joint
venture, Steinway Services Co., which will be responsible for
the after sales services and technical work for Steinway & Sons
pianos and technical training for technicians in Japan.  Haruki
Matsuo, president of H. Matsuo Musical Instruments Co. Ltd. will
head this new company. 
Continuing his comments, Bruce Stevens stated that "It has been
through the efforts of Haruki Matsuo and H. Matsuo Musical
Instruments Co. Ltd. that Steinway & Sons is the premiere brand at
all Japanese concert halls and institutions.  Matsuo has sold more
than 1,700 concert grands since becoming a Steinway dealer, 1,000 of
which were sold within the past 15 years.  We are now committed to
achieving a similarly strong position among private piano
enthusiasts and musicians throughout Japan with the establishment of
Steinway & Sons Japan Ltd. and Steinway Services Co." 
Steinway Musical Instruments Inc. is one of the world's largest
manufacuturers of musical instruments with annual revenue exceeding
$250 million.  Its Steinway & Sons subsidiary is the maker of the
world's most famous pianos and choice of the overwhelming majority
of concert artists.  Steinway pianos are handcrafted at facilities
in New York and Hamburg, Germany.  Its Selmer subsidiary is a
leading manufacturer of orchestral and band instruments with brand
names such as Selmer, Vincent Bach, Ludwig, Musser, Glaesel and
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