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Notice Regarding 50th Anniversary Commemorative Dividend and Ordinary Year-end Dividend

July 28, 2005

Yamaha Motor (the “Company”) Board of Directors has resolved on July 28, 2005 to revise the forecast for dividends per share for the term ending December 31, 2005 as follows.

Reason for revision of dividend forecast

(1) Provision of commemorative dividend

Yamaha Motor celebrated its 50th anniversary on July 1, 2005, owning to the patronage of shareholders as well as the warm support of all those concerned.
To respond to the support of shareholders, the Company plans to pay a 50th anniversary commemorative dividend of 5 yen per share to all shareholders as of December 31, 2005.

(2) Revision of ordinary year-end dividend

In January 2005, the Company announced a new dividend policy linking the payout to consolidated business performance. Since the business forecast for the fiscal year ending December 31, 2005 has been revised upward, the Company plans to increase the ordinary year-end dividend by four yen, to 12.50 yen per share, to shareholders as of December 31, 2005. Accordingly, the forecast for the total annual dividend has been changed from its initial 17 yen to 21 yen.
The decision to pay the ordinary year-end dividend of 12.50 yen per share and the 50th anniversary commemorative dividend of 5 yen to shareholders as of December 31, 2005 will be discussed at the 71st Ordinary General Meeting of Shareholders, scheduled for March 2006.

Details of revision





Previous forecast
(February 8, 2005)

Ordinary dividend: ¥ 8.50

Ordinary dividend: ¥ 8.50

Ordinary dividend: ¥ 17.00

Revised forecast
(July 28, 2005)

Ordinary dividend: ¥ 8.50

Ordinary dividend: ¥ 12.50
Commemorative dividend: ¥ 5.00
(Total: ¥ 17.50)

Ordinary dividend: ¥ 21.00
Commemorative dividend: ¥ 5.00
(Total: ¥ 26.00)

Dividends paid in previous term
(Fiscal period ended December 31, 2004)


Ordinary dividend: ¥ 14.00

Ordinary dividend: ¥ 14.00





The interim dividend was determined at the meeting of the Board of Directors on July 28, 2005, and the above amount will be paid after September 12 to shareholders as of June 30, 2005.





Since there were only nine months in the fiscal period ended December 31, 2004, due to a change in the accounting term, interim dividends were not paid, pursuant to the Commercial code.


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