Press release -

Revision of Forecast Year-End Dividend and Forecast Consolidated Business Results for the Fiscal Year Ending December 31, 2020

IWATA, November 9，2020 - Yamaha Motor Co., Ltd. (Tokyo: 7272) announces that at the
Board of Directors meeting held today, the Company has made the decision to revise the forecast consolidated business results for the full fiscal year ending December 31, 2020 as well as to revise the forecast year-end dividend.

1. Revised Forecast Consolidated Business Results for the Full Fiscal Year
(January 1, 2020 through December 31, 2020)

(1) Revised Content

(2) Reasons for the Revision
Compared to the previous forecast, demand in each market is recovering more than
expected. In light of this, the forecast for consolidated business results for the full fiscal
year has been revised.

2． Revised Dividend Forecast

(1) Revised Content

(2) Reasons for the Revision
We have revised the year-end dividend forecast based on the above revised forecast
consolidated business results for the full fiscal year ending December 31, 2020 announced
today.

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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.

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