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February 1, 2002

YAMAHA to Close Archery Products Business

In February 2002, YAMAHA will halt the production of archery equipment and, in September 2002, will discontinue its sales activities and close down its archery products business unit.

Since it first introduced fiber-reinforced plastic (FRP) archery products to Japan in 1959, YAMAHA has worked hard to promote archery as a competitive sport. As a result of its efforts, YAMAHA paved the way for the introduction of archery as an official event at national and inter-scholastic athletic meets, and talented archers throughout the world have come to rely on YAMAHA's archery products. In fact, a total of six archers at five different Olympic Games have won gold medals using the Company's products.

However, falling birth rates are undermining the demand for archery products and, although YAMAHA has an exceptionally strong position in the market for such products, this trend is putting downward pressure on earnings. Thus, based on a comprehensive review of the Group's operations, YAMAHA has decided to discontinue sales and production of archery products.
1. Decision
YAMAHA will discontinue sales of archery products and shut down its archery products business unit.

2. Date of Closure
Production to end in February 2002.
As orders are placed, the Company will continue to ship products to sales outlets until the end of September 2002, at which time operations will be closed.

3. Projected Sales Revenue
Projected sales revenue for the full fiscal year, ending March 31, 2002, is ¥120 million.

4.
Impact of Closure on Business Performance
Income: the impact upon this term's business performance will be minor.
Human resources:
employees will be reassigned to other business units.

For more information, please contact:

YAMAHA CORPORATION.

Public Relations Division
Corporate Communications Group

TEL. +81-3- 5488-6601


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