Notifications regarding the Revision of Forecast Final Dividends for the Fiscal Year Ending December 31, 2017

Yamaha Motor Co., Ltd. hereby announces that at the Board of Directors meeting on November 2, 2017, that the Company has determined to revise as follows the forecast final dividends based on the revised forecast consolidated business results for the fiscal year ending December 31, 2017 as announced today.

1. Details of Revised Final Dividend Forecast

2．Reasons
Recognizing that shareholders' interests represent one of the Company's highest management priorities, the Company is aiming towards a payout ratio of 30% of net income attributable to parent company shareholders, and focusing on continuing to maintain and increase a stable financial platform while and increasing new growth investment and stock dividends. The Company has determined that, based on the revised business results forecast, the forecast final dividend for this fiscal year will be changed to 43 yen per share, which together with the interim dividend of 39 yen represents a forecast annual dividend of 82 per share, and an (an increase of 4 yen from the previous forecast, and an increase of 22 yen compared with the previous fiscal year).

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