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Change of Directors and Corporate Officers

March 23, 2004

Yamaha Motor Co., Ltd. announces the following changes among its directors and corporate officers

Changes of Directors

Directors to resign (scheduled in late June)

Managing Director

Makio Oshio(scheduled to take office as Advisor)

 

Masahiko Shibuya (scheduled to take office as Advisor)

Candidates for Directors (scheduled to take their offices in late June)

 

Yukio Suganuma (Presently Corporate Officer responsible for Corporate Planning SG)

 

Shohei Kato

(Presently Corporate Officer, Senior General Manager of

 

American Operations and President of YMUS (U.S.A.))

* The changes listed above will be finalized when they are approved in the General Shareholders Meeting slated for late June, 2004.

Changes of Corporate Officers

Corporate Officers to resign (scheduled in late June)

 

Yukio Suganuma (scheduled to take office as Director)

 

Shohei Kato (scheduled to take office as Director)

Candidates for Corporate Officers (scheduled to take their offices in late June)

 

Masahiro Inumaru

(Presently Senior General Manager of European

 

Operations and President of YMENV (The Netherlands))

 

Kazuo Uchiyama (Presently Senior General Manager of New Business Operations)

 

Toyoo Ohtsubo (Presently Senior General Manager of Legal and Intellectual Property Operations)

(Abbreviations of department and affiliated company names)

* SG: Strategy Group
* SG: Strategy Group
* YMUS: Yamaha Motor Corporation, U.S.A. (marketing company in the United States)
* YMENV: Yamaha Motor Europe N.V. (regional headquarters in charge of European operations)


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