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Announcement of Personnel Changes

March 14, 2007

Yamaha Motor Co., Ltd. announces the following personnel changes, effective March 15, 2007.

(Name)

(New post)

(Current post)

Takashi Tsuchiya

Executive Officer and Senior General Manager of the Europe Headquarters, President of Yamaha Motor Europe N.V. and President of Yamaha Motor Distribution B.V.

Executive Officer and Senior General Manager of the Europe Headquarters and President of Yamaha Motor Europe N.V.

Masateru Shiomi

President of Y's Gear Co., Ltd.

President of Yamaha Motor Distribution B.V.

* Major business lines of group companies:

Y's Gear Co., Ltd.:

Development and sales of exterior parts for motorcycles, peripheral parts and accessories for boats

Yamaha Motor Europe N.V.:

Import and sales of Yamaha products in the Netherlands, and marketing of Yamaha products in Europe

Yamaha Motor Distribution B.V.: Import and sales of parts for Yamaha products in the Netherlands

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