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February 24, 2006

Notification Concerning the Institution of a Special Benefit Plan for Shareholders

This notification is to inform shareholders of a decision made by Yamaha Corporation at the Board of Directors' Meeting held on February 24, 2006, to institute a special benefit plan for shareholders.


1. Reason for the Institution of a Special Benefit Plan for Shareholders
In response to continued support from our shareholders and to request the understanding and support of a greater number of shareholders in our business, we are instituting a special benefit plan on their behalf.
2. Shareholders Eligible for Benefits and Allocation Date
Registered shareholders and beneficial registered shareholders as of each fiscal year-end of March 31 holding one unit (100 shares) or more of Yamaha shares.
3. Benefits
   (1) Shareholders holding one unit (100 shares) or more of Yamaha shares
  •  
Complimentary gift coupons for shareholders: 1 book
  Discount coupon to Yamaha Resorts: 6 coupons
Coupon providing free registration to
Yamaha's musical instrument rental service: 2 coupons
Discount tickets to Jubilo Iwata J-League games: 4 tickets
* The above coupons and tickets constitute one coupon book. Certain restrictions may apply.
  •  
An original CD featuring Yamaha-affiliated artists created exclusively for shareholders
(2) Shareholders holding ten units (1,000 shares) or more of Yamaha shares
  •  
The above-mentioned set of gift coupons, CD, plus
  •  
Six bimonthly issues of Yamaha's musical lifestyle magazine Myujin (Musical Aficionados)
4. Benefit Availability
Benefits will be made available to registered shareholders and beneficial registered shareholders holding one unit (100 shares) or more of Yamaha shares as of March 31, 2006 fiscal year-end and each year after.
Description of Benefits
Description of Shareholder Benefits 100 - 999 shares 1,000 shares or more
Complimentary gift coupons for shareholders Discount coupon to Yamaha Resorts

· Discounts at Yamaha Resort (six nationwide) shops and restaurants as well as for wedding functions (drinks only) and lodging, etc.

· Blackout dates apply
O O
Coupon for free registration to the Yamaha musical instrument rental service

· Free registration (a ¥2,100 value) when you rent a musical instrument from Yamaha

· Limited to certain stores
Discount tickets to Jubilo Iwata J-League games

· Average 10% discount on tickets to Jubilo Iwata J-League home games
(Yamaha Stadium and Shizuoka Stadium ECOPA)

· Limited to certain ticket agents
Exclusive CD for shareholders Original CD song collections created exclusively for shareholders featuring Yamaha-affiliated artists

· An original CD featuring Yamaha Music Communications-affiliated artists created exclusively for shareholders
O O
Yamaha's musical lifestyle magazine Myujin Six bimonthly issues of Yamaha's musical lifestyle magazine Myujin

(to be launched at the end of February 2006 with issues in February, April, June, August, October, and December)

· Six issues will be sent by mail beginning with June issue and ending with April issue
- O

* The above-mentioned benefits are planned to go into effect February 24, 2006, and are subject to change without notice.

For further information, please contact

YAMAHA CORPORATION

Public & Investor Relations Group,
Public Relations Division

TEL. +81-3-5488-6602
FAX. +81-3-5488-5060

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