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Notice on Expenses Incurred by a Consolidated Subsidiary in Conjunction with a Voluntary Repair Program for Side-by-Side Vehicles

May 12, 2009

Yamaha Motor Co., Ltd (the "Company") announced that its consolidated subsidiary in the United States, Yamaha Motor Corporation, U.S.A., has been called on by the U.S. Consumer Product Safety Commission to modify the specifications of side-by-side vehicles. These are produced by the Yamaha Motor Manufacturing Corporation of America, the Company's U.S. transportation equipment manufacturing subsidiary.

The Company agreed to the request and has initiated a voluntary repair program. In line with the decision, the Company allocated 3,108 million yen as related expenses, which it registered under selling, general and administrative expenses for the first quarter of the fiscal year ending December 31, 2009.

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