|Toyota President, Fujio Cho and Yamaha Motor President,
Takehiko Hasegawa today agreed to strengthen their business tie-up in connection with
three business areas: manufacture and development of engines for vehicles, motor sports
business and marine business.
After Toyota and Yamaha Motor co-developed "TOYOTA
2000GT*, which was initially sold in 1967, they have been closely co-operating in many
business areas, including development and manufacture of high-performance engines and
In addition to the above business tie-up, Toyota, Yamaha Corporation President,
Kazukiyo Ishimura and Yamaha Motor agree to cooperate with investment.
Toyota shall acquire 12,500,000 shares, 5% of the aggregate number of the outstanding
shares (after the adjustment of potentially dilutive securities), of Yamaha Motor from
Yamaha. Thereafter, Toyota will be the second-largest shareholder of Yamaha Motor. Each of
Yamaha and Yamaha Motor shall acquire 500,000 shares of Toyota from the secondary market,
respectively. Thereafter, the Yamaha group will hold 1,000,000 shares of Toyota, in total.
* TOYOTA2000GT was initially sold in May 1967 and the genuine grand touring car, which
Toyota manufactured for the first time, with a maximum speed of 220 km/h. The engine
"TYPE3M" (DOHC 1988cc, 150 h.p.), which was equipped in such car, was developed
with the cooperation of Toyota and Yamaha Motor, and manufactured by Yamaha Motor.
(March 6, 2000)