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Yamaha Motor Establishes a Compliance Special Committee

June 9, 2006

On June 1, Yamaha Motor Co., Ltd. (the ”Company”) established a Compliance Special Committee, which will meet for the first time on June 12.

The committee outline is as follows:

Name: Compliance Special Committee
Mission: Offering the Board of Directors of the Company opinions and advice to ensure corporate compliance
Mission period: June 2006 through January 2007
Chairperson: Iwao Taka
Professor, Reitaku Graduate School
Members: Setsuko Egami
Guest Professor, Waseda Graduate School
Tadashi Ohmiya
Attorney, Asahi Koma Law Offices
Keiji Goto
Attorney, Nishimura & Partners
Akira Shibasaki
Senior Researcher, Strategic Public Relations Institute Corporation
Kazuhiro Takei
Attorney, Nishimura & Partners

Background and Purpose

The Company has focused on ensuring strict compliance and building corporate ethics in striving to fulfill its corporate responsibilities. Specifically, the Company has enacted a clear code of ethics, implemented a compliance education program for its employees, and promoted other measures.

Last December, however, the Company was subject to entry of its premises for inspection of its export control system by Japan's Ministry of Economy, Trade and Industry. The spot inspection was followed by administrative guidance from the Ministry in January. Taking these actions seriously, and aiming to continue earning the trust of its shareholders, customers, employees, suppliers and other stakeholders, the Company has resolved to receive opinions and advice on compliance issues from experts outside the Company. To this end, it established the Compliance Special Committee.

Prior to forming the Committee, the Company launched an Internal Control Review Project on March 3 to establish an internal control system that will be incorporated in the Company's business structure and function continuously into the future. In addition, the Company set up a Security Trade Control Operations group on May 1, designed to strengthen and improve its export controls.

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