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 other apparatus.

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)