Yamaha : Notice Concerning the Decisions of the Acquisition of Treasury Shares

August 23, 2021

For Immediate Release

Company Name: YAMAHA CORPORATION

President and Representative Executive Officer: Takuya Nakata

Code Number: 7951 (First Section of Tokyo Stock Exchange)

Notice Concerning the Decision of the Acquisition of Treasury Stock

(Acquisition of Treasury Stock Pursuant to the Articles of Incorporation Based on the Provision of Article

165, Paragraph 2 of the Companies Act)

Yamaha Corporation (hereinafter, the Company) announces that, at the meeting of the Board of Directors held today, the following items related to the acquisition of treasury stock based on the application of the provisions of Article 156 of Japan's Companies Act pursuant to the rewording of Article 165-3 were resolved. The details are as follows.

1. Reason for Acquisition of Treasury Stock

The objective is to improve shareholder returns and capital efficiency.

2. Details of Items Related to Acquisition

1. Type of shares to be acquired: Common stock of the Company
2. Total number of shares to be acquired: 6,000,000 shares (maximum) (Representing 3.4% of outstanding shares, excluding treasury shares)
3. Total amount of acquisition: ¥28.0 billion (maximum)
4. Acquisition period: August 24, 2021 to February 28, 2022
5. Acquisition method: Purchase on the Tokyo Stock Exchange market (Including Off-Auction Own Share Repurchase Trading (ToSTNeT-3))

3. Others

The Company is planning to cancel all the treasury shares purchased in this acquisition. When the date for cancellation is decided, the Company will make an announcement.

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(Reference) Status of treasury shares held as of June 30, 2021:

Total number of outstanding shares, excluding treasury shares: 175,796,661 shares

Number of treasury shares: 15,758,364 shares

For further information, please contact:

Yamaha Corporation

Corporate Communications Division, Media Relations Group

Contact form: https://inquiry.yamaha.com/contact/?act=55&lcl=en_WW

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