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Capital Participation by Mitsui & Co., Ltd. in Yamaha Motor Co., Ltd.

May 21, 2007

Yamaha Motor Co., Ltd. (hereinafter, Yamaha Motor) announced receipt of notification from Mitsui & Co., Ltd. (hereinafter Mitsui & Co.) that Mitsui & Co. has decided to acquire 3.0% (or 8,586,000 shares) of the total outstanding shares of Yamaha Motor. With the acquisition, Mitsui & Co. will become the seventh largest shareholder of Yamaha Motor (based on Yamaha Motor's list of shareholders as of the end of December 2006). The shares to be acquired by Mitsui & Co. are currently owned by Yamaha Corporation.

Yamaha Motor and Mitsui & Co. first joined forces in the 1960s upon Yamaha Motor's inauguration and advancement into overseas markets in the UK and Germany for the purpose of importing and wholesaling of Yamaha Motor's motorcycles. In the early 1970s, under Mitsui & Co.'s initiative, the two companies established in both countries import and wholesale companies, dealing in motorcycles manufactured by Yamaha Motor. Subsequently, Yamaha Motor and Mitsui & Co. continued to expand business through joint undertakings in other overseas markets, including Asia, and Central and South America.

At present, Yamaha Motor and Mitsui & Co. continue to cooperate in Asia where demand for motorcycles is increasing at a considerable rate. In Indonesia, Asia's primary motorcycle market, the two companies have established a joint venture company engaged in manufacturing, sales, and retail finance.

In the Asian motorcycle market, the provision of full-fledged retail finance is essential to enable a greater number of people to experience the convenience of motorcycles. Combining and integrating Yamaha Motor's capabilities in manufacturing and sales, and Mitsui & Co.'s capabilities in finance continues to produce excellent results.

With this acquisition of shares, Yamaha Motor and Mitsui & Co. will initiate a discussion to strategically utilize the global management resources of each company. As part of these efforts, the two companies will consider broadening of the spectrum of their partnership in broader fields, focusing on proven operations in the area of retail finance, and other areas where the strengths of a trading firm can be best developed, including distribution services and procurement of raw materials. Yamaha Motor and Mitsui & Co. will continue to strengthen their mutual partnership through such endeavors, and further promote joint global undertakings to develop various businesses including motorcycle operations.

Outline of the two companies:

Mitsui & Co., Ltd.

Name: MITSUI & CO., LTD.
Representative: Shoei Utsuda, President and Chief Executive Officer
Date of establishment: July 25, 1947
Location: 1-2-1 Otemachi, Chiyoda-ku, Tokyo, Japan
Paid-in capital: ¥323,213 million (as of March 31, 2007)
Sales: ¥15,357,656 million (consolidated)
¥11,407,301 million (parent company only)
(for the year ended March 31, 2007)
Net Income: ¥301,502 million (consolidated)
(for the year ended March 31, 2007)
Number of employees: 41,761 (consolidated) 5,843 (parent company only)
(as of March 31, 2007)
Lines of business: Multifaceted and global business development in a broad range of operations including domestic sales of products, exports and imports, and offshore trading, as well as the development of natural resources and the broad, technological development in untapped industries such as metals, machinery, information, chemicals, energy, living, distribution, and finance, assisted by a global network providing multiregional intelligence and integration.

Yamaha Motor Co., Ltd.

Name: Yamaha Motor CO., LTD.
Representative: Takashi Kajikawa, President, Chief Executive Officer and Representative Director
Date of establishment: July 1, 1955
Location: 2500 Shingai, Iwata, Shizuoka, Japan
Paid-in capital: ¥48,168 million (as of December 31, 2006)
Sales: ¥1,582,046 million (consolidated)
¥795,238 million (parent company only)
(for the year ended December 31, 2006)
Net Income: ¥77,233 million (for the year ended December 31, 2006)
Number of employees: 41,958 (consolidated)
8,461 (parent company only)
(as of December 31, 2006)
Lines of business: Manufacturing and sales of motorcycles, outboard engines, buggies, side-by-side vehicles, snowmobiles, automobile engines, and surface mounters, as well as operation of leisure and recreational facilities

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