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Yamaha Motor Co., Ltd. (the "Company") announced its voluntary retirement program on February 5, 2010. The results of the program's implementation are as follows.
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1.Outline of the plan for the voluntary retirement program
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(1) | Number of employees to apply for the voluntary retirement program |
| 800 |
(2) | Conditions for application |
| Yamaha Motor full-time employees between 35 and 59 years of age, employed for at least five years as of October 31, 2010. Individuals employed under the post-retirement re-employment scheme and other personnel.
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| From August 16 (Monday) to August 31 (Tuesday), 2010 |
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| October 31, 2010 |
(5) | Other information regarding implementation of the program |
| The Company will offer special incentives and other payments to employees who voluntarily take early retirement, and will also help them in seeking new employment. |
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2.Results of the program
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Number of applicants: 932
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Retirement date: October 31, 2010
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3.Impact on financial results for this fiscal year
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Special incentives and other payments to employees voluntarily taking early retirement -- amounting to 11,004 million yen -- were allocated as "business structure improvement expenses," classified as extraordinary losses in the non-consolidated financial statement of income for the fiscal year ended December 31, 2009. Therefore, these incentives and payments will not have any impact on the financial results for the fiscal year ending December 31, 2010.
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