Yamaha Motor Launches New Mobility Service Business in India　-- Aiming to create new employment opportunities with Indian startups --

IWATA, March 2, 2022 -- Yamaha Motor Co., Ltd. (Tokyo: 7272) announced today that it has established Moto Business Service India Pvt. Ltd. (MBSI) as a new company in India with the aim of expanding its mobility service businesses. The Company has also begun leasing motorcycles to Royal Brothers, a local mobility service provider that offers motorcycle rentals and other services.

MBSI will run an asset management business by leasing motorcycles to Mobility as a Service (MaaS) operators providing services for vehicle sharing, taxis, logistics, and more. By creating job opportunities through our business, the company will contribute to improving the quality of life for people in India. In addition to Royal Brothers, MBSI will aim to expand Yamaha Motor's mobility service business in India through collaborations with other MaaS operators going forward.

Royal Brothers was founded in 2015 as mobility solutions provider and is one of India's largest motorcycle rental operators today. Based on the concept of "Why buy when you can rent," Royal Brothers' approach struck a chord with millennials by answering their needs and provides motorcycle rental services through their website and smartphone app.

Yamaha Motor designated several "New Businesses" and "Growth Businesses" as "Strategic Business Fields" in its new Medium-Term Management Plan (2022-2024) announced on February 10 this year. As part of managing its business portfolio, the Company will actively allocate management resources to these businesses in order to develop them into future core businesses. Mobility services fall under the plan's "New Business Fields" and the Company will continue to expand its asset management business through collaborations with local partners.

Moto Business Service India Pvt. Ltd. (MBSI)