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Notice of Intent to Repurchase Shares of Treasury Stock
(Repurchase of treasury stock pursuant to Article 210 of the Commercial Code).
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| At the Board of Directors Meeting on May 9, 2003, YAMAHA resolved to repurchase shares of treasury stock pursuant to Article 210 of the Commercial Code. |
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| 1.Reason for repurchasing shares of treasury stock |
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To facilitate the pursuit of a flexible capital policy that is responsive to changes in our operating environment, we will repurchase shares of treasury stock pursuant to Article 210 of the Commercial Code.
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| 2.Details |
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| (a) | Type of shares to be repurchased: shares of YAMAHA's common stock
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| (b) | Number of shares to be repurchased: upper limit 20 million shares
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| (c) | Aggregate purchase price: upper limit ¥30 billion
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| Note: |
The proposed repurchase outlined above is subject to the approval of the Company's shareholders, who will convene to discuss "the repurchase of shares of treasury stock" at the 179th Annual General Meeting of Shareholders to be held on June 26, 2003.
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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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