Press release -

Notifications regarding the Revision of Forecast Consolidated Business Results for the Fiscal Year Ending December 31, 2018

IWATA, October 31, 2018 - Yamaha Motor Co., Ltd. (Tokyo: 7272) hereby announces that, at the Board of Directors meeting on October 31, 2018, the Company has determined to revise as follows the forecast consolidated business results for the fiscal year ending December 31, 2018.

There are no changes to the forecast dividend for the year.

1. Revised Forecast Consolidated Business Results for the Fiscal Year
(January 1, 2018 through December 31, 2018)

2. Reasons for revision of forecast business results
Net sales are expected to be below the previously-announced forecast due to a decrease in unit sales in the developed markets motorcycle business, and operating income is expected to be below the previously-announced forecast due to decreased income in the emerging markets motorcycle business, the effects of emerging market currency depreciation, and increased raw material costs, etc. In addition, ordinary income is expected to be below the previously-announced forecast due to foreign exchange losses caused by emerging market currency depreciation.

Exchange rates

Regarding dividends for the period, the forecast dividend for the year will be maintained at the initial forecast of 90 yen per share, and the final dividend will therefore be 45 yen per share.

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Yamaha Motor (TOKYO:7272) is a world-leading producer of motorcycles, marine products, power products and robotics.

Yamaha Motor (TOKYO: 7272) is a world-leading enterprise manufacturing land-mobility such as motorcycles, all-terrain vehicles, and electrically power assisted bicycles, marine products such as boats and outboard motors, robotics products such as surface mounters and drones, as well as engagement in the finance business. The company's diverse businesses and wide variety of products are built around its proprietary technologies focused on powertrain, chassis and hull, electronic control, and manufacturing technologies. Yamaha Motor operates global development, production and sales networks through 140 subsidiaries and equity-method affiliates in 30 countries and regions, working to realize our Corporate Mission of being s "Kando* Creating Company."
About 90% of consolidated net sales are generated in more than 180 countries and regions outside of Japan.
Please visit http://global.yamaha-motor.com.

*This is a dedicated website providing Yamaha Motor PR materials for viewing by media journalists.
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