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Application to Delist YAMAHA Shares from Stock Exchanges in Osaka and Nagoya
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| At a meeting of the board of directors held today, the board decided to apply to delist its ordinary shares at the Osaka Securities Exchange and Nagoya Stock Exchange. Details of the decision are as follows. |
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| 1 Reason for Delisting Application |
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YAMAHA's ordinary shares have been traded at three exchanges, in Tokyo, Osaka, and Nagoya. Because the volume of YAMAHA's ordinary shares traded on the exchanges in Osaka and Nagoya is small, it is expected that delisting from those exchanges would have a very small effect on shareholders and investors, and it was accordingly decided to apply for such delistings.
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| 2 Stock Exchanges Other than the Osaka and Nagoya Exchanges Where the Company's Stock is Listed |
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| 3 Delisting Application Date |
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| 4 Outlook |
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After the delisting applications are submitted to and accepted by the two exchanges, the delisting will become effective at a later date that will in principle be one month from the time the shares' listings are moved to the exchange's pre-delisting sections. Subsequently, the Tokyo Stock Exchange will be the only stock exchange on which the Company's shares are traded. In line with the delisting of the Company's ordinary shares, the Company's second issue of convertible bonds redeemable on March 31, 2004, will also be delisted from the abovementioned two exchanges.
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For further information, please contact
Yamaha Corporation
Corporate Communication Group,
Public Relations Division
TEL. +81-3-5488-6601
FAX +81-3-5488-5060
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