Directors, Audit & Supervisory Board Members,and Executive Officers

MC: Motorcycle
AM: Automotive
WV: Water Vehicle
CS: Customer Service
PF: Platform
ME: Marine Engine
NVL: New Land Vehicle

As of April 1, 2016

Board of Directors
F Director

G Director

Katsuaki Watanabe
April 1982: Joined the Company
March 2011: Senior Executive Officer and Chief General Manager of Manufacturing Center
April 2013: Senior Executive Officer, Executive General Manager of 1st Business Unit, MC
Business Operations and Chief General Manager of Manufacturing CenterJanuary 2014: Senior Executive Officer, Executive General Manager of 1st Business Unit, MC
Business Operations and Chief General Manager of PF Model Unit
March 2014: Senior Executive Officer and Director, Executive General Manager of 1st Business
Unit, MC Business Operations and Chief General Manager of PF Model Unit
January 2015: Senior Executive Officer and Director, Chief General Manager of MC Business
Operations and Executive General Manager of 1st Business Unit, MC Business
Operations
July 2015: Senior Executive Officer and Director, Chief General Manager of MC Business
Operations, and Executive General Manager of Overseas Market Development
Operation Business Unit
January 2016: Senior Executive Officer and Director, Chief General Manager of MC Business
Operations
March 2016: Managing Executive Officer and Director, Chief General Manager of MC BusinessOperations (to present)

IH Director

Toshizumi KatoDirector (Outside)
Tamotsu Adachi

Yoichiro Kojima

June 1986: Joined the CompanyJanuary 2011: Director and President of Yamaha Motor Corporation, U.S.A.
March 2012: Senior Executive Officer, Director
March 2014: Senior Executive Officer and Director
January 2015: Senior Executive Officer and Director, Chief General Manager ofVehicle & Solution Business Operations and Senior General Managerof Financial Service Business Development Section
January 2016: Senior Executive Officer and Director, Chief General Manager ofVehicle & Solution Business Operations
March 2016: Managing Executive Officer and Director, Chief General Manager ofVehicle & Solution Business Operations (to present)

April 1981: Joined the Company
March 2012: Senior Executive Officer, and Executive General Manager of ME
Business Unit, Marine Business Operations
January 2013: Director and President of PT. Yamaha Indonesia Motor Manufacturing
March 2015: Senior Executive Officer and Director
January 2016: Senior Executive Officer and Director, Deputy Chief General Managerof New Business Development Center, and Senior General Managerof New Land Vehicle Business Development Section, New Business
Development Center (to present)

J Director (Outside)

K Director (Outside)

Takuya Nakata

April 1977: Joined Mitsubishi Corporation
January 1988: Joined McKinsey & Company, Inc. Japan
June 1995: Partner of McKinsey & Company, Inc. Japan
March 1997: Managing Director of Business Development Department,GE Capital Japan
March 1999: President and CEO of Japan Lease Auto Co.
December 2000: President and CEO of GE Fleet Services Co.
May 2003: Managing Director and Japan Representative of Carlyle Japan LLC
June 2003: Outside Director of Benesse Corporation (currently Benesse Holdings, Inc.)
November 2007: Managing Director and Co-Representative of Carlyle Japan LLC(to present)
June 2009: Outside Director of Benesse Corporation (currently Benesse Holdings, Inc.)(to present)
March 2013: Outside Director (to present)

Atsushi Niimi

April 1981: Joined Nippon Gakki Co., Ltd. (currently Yamaha Corporation)
October 2005: General Manager of PA/DMI Division of Yamaha Corporation
June 2006: Executive Officer of Yamaha Corporation
June 2009: Director & Executive Officer of Yamaha Corporation
April 2010: President of Yamaha Corporation of America
June 2010: Senior Executive Officer of Yamaha Corporation
June 2013: President and Representative Director of Yamaha Corporation (to present)
March 2014: Outside Director (to present)

April 1971: Joined Toyota Motor Co., Ltd. (currently Toyota Motor Corporation)
June 2000: Director of Toyota Motor Corporation
June 2003: Managing Officer of Toyota Motor CorporationJune 2004: Director of Toyota Motor Corporation
June 2005: Senior Managing Director of Toyota Motor Corporation
June 2009: Executive Vice President, Member of the Board of Toyota Motor
Corporation
Outside Member of the Audit & Supervisory Board of JTEKT Corporation
June 2013: Chairman & Representative Director of JTEKT Corporation (to present)
March 2015: Outside Director (to present)

Audit & Supervisory Board Members
A President and Representative Director

Hiroyuki Yanagi
April 1978: Joined the Company
March 2009: Senior Executive Officer, Chief General Manager of Manufacturing
CenterNovember 2009: Senior Executive Officer, Senior General Manager of MC BusinessSection, MC Business Operations
March 2010: President, Chief Executive Officer and Representative Director
June 2011: Director of Yamaha Corporation (to present)
January 2012: President, Chief Executive Officer and Representative Director, Chief
General Manager of MC Business Operations
January 2015: President, Chief Executive Officer and Representative Director(to present)

B Representative Director

KI

GF

H

J

Takaaki Kimura
April 1976: Joined the Company
March 2005: Director, Senior General Manager of AM Operations
March 2007: Senior Executive Officer and Director, Senior General Manager of AMOperations
January 2009: Senior Executive Officer and Director, Chief General Manager ofMarine Business Operations and Executive General Manager of WVBusiness Unit, Marine Business Operations
November 2009: Managing Executive Officer and Representative Director, Chief
General Manager of Marine Business Operations and Executive
General Manager of WV Business Unit, Marine BusinessOperations
March 2010: Senior Managing Executive Officer and Representative Director, Chief
General Manager of Marine Business Operations and Executive
General Manager of WV Business Unit, Marine Business Operations
January 2012: Senior Managing Executive Officer and Representative Director, Chief
General Manager of Technology Center and Chief General Managerof Marine Business Operations
March 2014: Executive Vice President and Representative Director, Chief General
Manager of Technology Center, Chief General Manager of DesignCenter, and Chief General Manager of Marine Business Operations
July 2014: Executive Vice President and Representative Director, Chief General
Manager of Technology Center and Chief General Manager of Marine
Business Operations (to present)

OECA

B

Hiroshi Ito
Kozo Shinozaki
April 1978: Joined the Company
March 2010: Senior Executive Officer and Director, Senior General Manager of Finance &Accounting Section
January 2011: Senior Executive Officer and Director, Senior General Manager ofCorporate Planning & Finance Section and General Manager of Finance &Accounting Division, Corporate Planning & Finance Section
February 2011: Senior Executive Officer and Director, Senior General Manager ofCorporate Planning & Finance Section
January 2013: Senior Executive Officer and Director, Executive General Manager ofCorporate Planning & Finance Center
March 2013: Managing Executive Officer and Director, Chief General Manager ofCorporate Planning & Finance Center

70

Yamaha Motor Co., Ltd. ⎜ Annual Report 2015

D Director

Nobuya Hideshima
April 1978: Joined the Company
March 2010: Senior Executive Officer, Chief General Manager of Procurement
CenterMarch 2011: Senior Executive Officer and Director, Chief General Manager ofProcurement Center
March 2013: Managing Executive Officer and Director, Chief General Manager ofProcurement Center
January 2014: Managing Executive Officer and Director, Chief General Manager ofEngine Unit and Chief General Manager of CS Center
January 2016: Managing Executive Officer and Director, Chief General Manager ofEngine Unit (to present)

MND

L Standing Audit & Supervisory Board Member

C Director

L

E Director

Masahiro Takizawa
April 1978: Joined the Company
March 2010: Senior Executive Officer, Senior General Manager of Corporate
Planning Section and General Manager of Corporate Planning Division,Corporate Planning Section
January 2011: Senior Executive Officer, Chief General Manager of Business
Development Operations
March 2011: Senior Executive Officer and Director, Chief General Manager ofBusiness Development Operations
March 2013: Managing Executive Officer and Director, Chief General Manager ofBusiness Development Operations
January 2016: Managing Executive Officer and Director, Chief General Manager of
New Business Development Center (to present)

April 1980: Joined the Company
January 2011: Director and President of Yamaha Motor Manufacturing Corporation ofAmericaJanuary 2015: Chief General Manager in charge of planning, Corporate Planning Division,
Corporate Planning & Finance Center
March 2015: Audit & Supervisory Board Member (to present)

M Standing Audit & Supervisory Board MemberKenji Hironaga

N Audit & Supervisory Board Member (Outside)

Isao Endo
April 1979: Joined Mitsubishi Electric Corporation
October 1988: Joined Boston Consulting Group
October 1992: Joined Andersen Consulting (currently Accenture)
September 1997: Partner and Director of Booz Allen Hamilton (currently Booz & Company)
May 2000: Managing partner of Roland Berger Japan
April 2006: Chairman of Roland Berger Japan (to present)
April 2006: Professor, Graduate School of Commerce, Waseda University
May 2011: Outside Director of Ryohin Keikaku Co., Ltd. (to present)
March 2013: Outside Audit & Supervisory Board Member (to present)
June 2014: Outside Director of Sompo Japan Nipponkoa Holdings, Inc. (to present)
Outside Director of Nisshin Steel Co., Ltd. (to present)

O Audit & Supervisory Board Member (Outside)

Tomomi Yatsu
April 1983: Joined Tokyo Electron Limited
October 1986: Joined Tohmatsu Awoki & Sanwa (currently Deloitte Touche Tohmatsu LLC)
September 1990: Registered as a certified public accountant
November 2001: Registered as an attorney
Joined New Tokyo Law Office(currently Bingham Sakai Mimura Aizawa-Foreign Law Joint Enterprise)
April 2007: Partner of Bingham Sakai Mimura Aizawa-Foreign Law Joint Enterprise (to present)
June 2009: Outside Audit & Supervisory Board Member of CALBEE, Inc. (to present)
June 2010: Outside Audit & Supervisory Board Member of Taiko Pharmaceutical Co., Ltd.
March 2012: Outside Statutory Auditor of Kokuyo Co., Ltd.
March 2015: Outside Audit & Supervisory Board Member (to present)
April 2015: Partner of TMI Associates (to present)

April 1982: Joined the Company
February 2010: General Manager of Human Resources Development Division, HumanResources & General Affairs Section
September 2014: Chief General Manager in charge of planning, Audit & Supervisory Board
Member’s Office
March 2015: Audit & Supervisory Board Member (to present)

Yamaha Motor Co., Ltd. ⎜ Annual Report 201571

Comments from an Outside Director andOutside Audit & Supervisory Board MemberDirectors, Audit & Supervisory Board Members, and Executive Officers

With the Corporate Governance Code having taken effect, the role of an Outside Directors has become

Executive Officers

even more important. In essence, I believe it is vital for Outside Directors to provide guidance based onPresident and Chief Executive Officer
Hiroyuki Yanagi

their experience without the Company, taking a comprehensive view of corporate management. From thisExecutive Vice President
Takaaki Kimura

perspective, in addition to participating in deliberations about how to enhance corporate value over theChief General Manager of Technology Center andChief General Manager of Marine Business Operations

medium to long term and monitoring the implementation of such decisions, I intend to offer proactive input
on other important issues that are central to determining corporate value, including organizational issues

Managing Executive Officer
Kozo Shinozaki

Managing Executive Officer
Nobuya Hideshima

Managing Executive Officer
Masahiro Takizawa

Managing Executive Officer

Managing Executive Officer

Katsuaki Watanabe

Toshizumi Kato

Chief General Manager ofCorporate Planning &Finance CenterChief General Manager ofEngine Unit

Chief General Manager of New
Business Development Center

Chief General Manager ofMotorcycle Business Operations

Chief General Manager of Vehicle &Solution Business Operations

and compliance and risk management.
Yamaha Motor provides many opportunities for Outside Directors to give input, such as at Board ofTamotsu Adachi
Outside Director

Directors’ meetings, as well as at Management Research Committee and Executive Personnel Committee
meetings, and has established a culture whereby management makes active use of this input. I believe

Senior Executive Officer

Senior Executive Officer

Senior Executive Officer

Senior Executive Officer

Senior Executive Officer

that this fundamental stance and culture function very effectively as a foundation for proper corporate

Yoichiro Kojima

Ryouichi Sumioka

Hiroaki Fujita

Katsuhito Yamaji

Makoto Shimamoto

governance.

Deputy Chief General Managerof New Business Development
Center and Senior General
Manager of New Land Vehicle
Business Development Section,
New Business Development
Center

Deputy Chief General Manager
of Corporate Planning &Finance Center

Managing Director of Yamaha
Motor India Pvt. Ltd.

Chief General Manager of
Manufacturing Center

Chief General Manager of PF Model
Unit and Senior General Manager ofPF Model Development Section, PFModel Unit

Executive Officer

Executive Officer

Executive Officer

Executive Officer

Executive Officer

Masaru Ono

Masaki Asano

Yoshitaka Noda

Masahiro Inoue

Kazuhiro Kuwata

Chief General Manager ofCS Center

Managing Director ofYamaha Motor India SalesPvt. Ltd.

Senior General Manager ofComponent Section,Engine Unit

Chief General Manager ofProcurement Center, and General
Manager of Procurement Planning
Division, Procurement Center, andSenior General Manager of Cost
Innovation Section, PF Model Unit

President of Yamaha Motor
Europe N.V.

To ensure Yamaha Motor continues to develop going forward, I believe it is important to expand newbusinesses while also raising current levels of productivity and efficiency at existing businesses to generate
solid cash flow. We will leverage these positive developments to create innovative, unique products, andpopularizing these products around the world, to lay a sure path toward continuous growth. I hope that
Outside Directors can make further contributions to these discussions.

With the establishment last year of the Corporate Governance Code that lays out the main principles ofeffective corporate governance, “offensive governance” that contributes to enhanced corporate value has

Executive Officer

Executive OfficerExecutive Officer

Executive Officer

Executive Officer

Yoshihiro Hidaka

Tatsumi Okawa

Junzo Saitoh

Akihiro Nagaya

Heiji Maruyama

Executive General Manager of
1st Business Unit, Motorcycle
Business Operations, andGeneral Manager of Southeast& East Asia Sales Division, 1stBusiness Unit, Motorcycle
Business Operations

President of Yamaha Motor
Corporation, U.S.A. and
Deputy Chief General
Manager of Marine
Business Operations

Chief General Manager of
Human Resources &General Affairs Center

Chief General Manager of
Design Center

Deputy Chief General Manager ofEngine Unit, and Senior General
Manager of Engine Development
Section, Engine Unit, and Executive
General Manager of Automotive
Business Unit

gained momentum in Japan. The Board of Directors of Yamaha Motor has favored offensive governancesince before the Corporate Governance Code was enacted, and has striven to fulfill the responsibilities of a
global company through proactive deliberations of management issues including management vision andstrategy from a long-term perspective.
Like the motorcycles that Yamaha Motor manufactures, a powerful engine and a reliable brake areindispensable for a company’s continuous growth, and technologies for effective operations are necessary

Executive Officer

Executive Officer

Hirofumi UsuiSenior General Manager ofMarketing Section, Marine
Business Operations

Executive Officer

Executive Officer

Executive Officer

Satohiko Matsuyama Minoru Morimoto

Yasuo Tanaka

Motofumi Shitara

Executive General Manager ofRecreational Vehicle Business Unit,
Vehicle & Solution BusinessOperations

Senior General Manager of After
Sales Section, CS Center

Executive General Manager ofMarine Engine Business Unit,
Marine Business Operations

President of PT. Yamaha
Indonesia Motor Manufacturing

Tomomi Yatsu
Outside Audit & Supervisory
Board Member

as well. Yamaha Motor has strong leadership, and its management carefully listens to the opinions ofOutside Directors as well. Going forward, I expect the Company to maintain a determined course as itnavigates an increasingly complex and challenging business environment.
Outside Directors act as a crucial “protection” for the Board of Directors, offering advice from diverse
viewpoints. From my perspective as a woman, and also as a specialist in law and accounting, I hope to72

Executive Officer

Executive Officer

Eric de Seynes

Dyonisius Beti

COO of Yamaha Motor
Europe N.V.

COO of PT. Yamaha Indonesia
Motor Manufacturing

Yamaha Motor Co., Ltd. ⎜ Annual Report 2015

CS: Customer Service
PF: Platform

contribute to the enhancement of Yamaha Motor’s corporate value as a company that is loved by everyone.

Yamaha Motor Co., Ltd. ⎜ Annual Report 201573