Exhibit 99.1

|"Regular" Distribution Period:
May 15, 2002 to April 15, 2003
"Actual" Distribution Period:
May 15, 2002 to April 15, 2003 |  | Yamaha Motor Master Trust
Aggregate Servicer's Report |  | Annual Collection Period:
April 1, 2002 to March 31, 2003
|-------------------------------------------------------------------------------------------------------------------------- |  | ----------------------------------------------------- |  | ---------------------------------------------------------

|(i).  |  | Aggregate Pool Balance                                                                                                      |  |                  |   |                  |  |                 |   |                 |  
|----- |  | --------------------------------------------------------------------------------------------------------------------------- |  | ---------------- | - | ---------------- |  | --------------- | - | --------------- | -
|      |  | Aggregate Pool Balance as of the beginning of the twelve Preceding Collection Periods                                       |  |                  |   | 773,485,635.00   |  |                 |   |                 |  
|      |  | Collections other than finance charges, cash Adjustment Payments:                                                           |  |                  |   |                  |  |                 |   |                 |  
|      |  | As reported and filed in the Monthly
    Servicer's Certificates                                                            |  | 2,252,552,951.00 |   |                  |  |                 |   |                 |  
|      |  | Exception noted with respect to the Monthly
    Servicer's Certificate for the Collection
    Period ended January 31, 2003 |  | (41,279.00       | ) |                  |  |                 |   |                 |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  
|      |  | Collections other than finance charges, cash Adjustment Payments:                                                           |  |                  |   | 2,252,511,672.00 |  |                 |   |                 |  
|      |  | Other Reductions to Pool Balance                                                                                            |  |                  |   | 19,186,767.00    |  |                 |   |                 |  
|      |  | Additional Receivables                                                                                                      |  |                  |   | 2,384,813,323.01 |  |                 |   |                 |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  
|      |  | Aggregate Pool Balance as of the end of the twelve Preceding Collection Periods                                             |  |                  |   | 886,600,519.01   |  |                 |   |                 |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  
|(ii). |  | Aggregate Trust Collections                                                                                                 |  |                  |   |                  |  |                 |   |                 |  
|      |  | Collections other than finance charges, cash Adjustment Payments                                                            |  |                  |   | 2,252,511,672.00 |  |                 |   |                 |  
|      |  | Yield Collections                                                                                                           |  |                  |   | 128,369,912.00   |  |                 |   |                 |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  
|      |  | Principal Collections                                                                                                       |  |                  |   | 2,124,141,760.00 |  |                 |   |                 |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  
|(iii) |  | Total Amount Distributed to Investors                                                                                       |  |                  |   |                  |  |                 |   |                 |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  
|
|      |  | Class A amount distributed to Investors                                                                                     |  | 3,817,962.62     |   | 3,281,695.54     |  | 197,506,577.31  |   | 204,606,235.47  |  
|      |  | Class B amount distributed to Investors                                                                                     |  | 300,654.37       |   | 283,827.76       |  | 25,720,504.27   |   | 26,304,986.40   |  
|      |  | Class C amount distributed to Investors                                                                                     |  | 425,929.68       |   | 402,089.33       |  |                |   | 828,019.01      |  
|(iv)  |  | Total Principal Distributed to Investors                                                                                    |  |                  |   |                  |  |                 |   |                 |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  
|
|      |  | Class A amount distributed to Investors                                                                                     |  | 0.00             |   | 0.00             |  | 196,000,000.00  |   | 196,000,000.00  |  
|      |  | Class B amount distributed to Investors                                                                                     |  | 0.00             |   | 0.00             |  | 25,468,926.56   |   | 25,468,926.56   |  
|      |  | Class C amountdistributed to Investors                                                                                      |  | 0.00             |   | 0.00             |  |                |   | 0.00            |  
|      |  | Class A amount funded by Investors                                                                                          |  | 0.00             |   | 0.00             |  | (190,500,000.00 | ) | (190,500,000.00 | )
|      |  | Class B amount funded by Investors                                                                                          |  | 0.00             |   | 0.00             |  | (24,754,237.29  | ) | (24,754,237.29  | )
|      |  | Class C amount funded by Investors                                                                                          |  | 0.00             |   | 0.00             |  |                |   | 0.00            |  
|      |  | Total Principal Distributed to Investors                                                                                    |  | 0.00             |   | 0.00             |  | 6,214,689.27    |   | 6,214,689.27    |  
|(v)   |  | Total Interest Distributed to Investors                                                                                     |  |                  |   |                  |  |                 |   |                 |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  
|
|      |  | Class A amount distributed to Investors                                                                                     |  | 3,817,962.62     |   | 3,281,695.54     |  | 1,506,577.31    |   | 8,606,235.47    |  
|      |  | Class B amount distributed to Investors                                                                                     |  | 300,654.37       |   | 283,827.76       |  | 251,577.72      |   | 836,059.85      |  
|      |  | Class C amount distributed to Investors                                                                                     |  | 425,929.68       |   | 402,089.33       |  |                |   | 828,019.01      |  
|      |  | Total Interest Distributed to Investors                                                                                     |  | 4,544,546.67     |   | 3,967,612.63     |  | 1,758,155.03    |   | 10,270,314.33   |  
|(vi)  |  | Investor Default Amount Allocated during the period 4/1/02 through 3/31/03                                                  |  |                  |   |                  |  |                 |   |                 |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  
|
|      |  | Investor Default Amount                                                                                                     |  | 335,879.44       |   | 287,177.03       |  | 187,375.55      |   | 810,432.02      |  
|(vii) |  | Monthly Servicing Fee Paid during the period 4/1/02 through 3/31/03                                                         |  |                  |   |                  |  |                 |   |                 |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  
|
|      |  |                                                                                                                             |  | 4,678,360.82     |   | 4,000,000.00     |  | 2,156,569.73    |   | 10,834,930.55   |  
|      |  |                                                                                                                             |  |                  |   |                  |  |                 |   |                 |  

---

|(viii)  |  | Invested Amount as of 3/31/02                                                                               |  |                |   |                |  |                |  |                | 
|------- |  | ----------------------------------------------------------------------------------------------------------- |  | -------------- | - | -------------- |  | -------------- |  | -------------- | 
|        |  |                                                                                                             |  |                |   |                |  |                |  |                | 
|
|        |  | Class A Invested Amount                                                                                     |  | 200,000,000.00 |   | 171,000,000.00 |  | 175,500,000.00 |  | 546,500,000.00 | 
|        |  | Class B Invested Amount                                                                                     |  | 14,035,000.00  |   | 12,000,000.00  |  | 22,805,084.75  |  | 48,840,084.75  | 
|        |  | Class C Invested Amount                                                                                     |  | 19,883,041.00  |   | 17,000,000.00  |  |               |  | 36,883,041.00  | 
|        |  | Aggregate Invested Amount                                                                                   |  | 233,918,041.00 |   | 200,000,000.00 |  | 198,305,084.75 |  | 632,223,125.75 | 
|        |  |                                                                                                             |  |                |   |                |  |                |  | 0.00           | 
|        |  | Class A Principal Funding Account or Capitalized Interest Account (series 1998-A)                           |  | 0.00           |   | 0.00           |  | 1,166,667.00   |  | 1,166,667.00   | 
|        |  |                                                                                                             |  |                |   |                |  |                |  | 0.00           | 
|        |  | Adjusted Invested Amount                                                                                    |  | 233,918,041.00 |   | 200,000,000.00 |  | 197,138,417.75 |  | 631,056,458.75 | 
|(ix)    |  | Invested Amount as of 3/31/03                                                                               |  |                |   |                |  |                |  |                | 
|        |  |                                                                                                             |  |                |   |                |  |                |  |                | 
|
|        |  | Class A Invested Amount                                                                                     |  | 200,000,000.00 |   | 171,000,000.00 |  | 170,000,000.00 |  | 541,000,000.00 | 
|        |  | Class B Invested Amount                                                                                     |  | 14,035,000.00  |   | 12,000,000.00  |  | 22,090,395.48  |  | 48,125,395.48  | 
|        |  | Class C Invested Amount                                                                                     |  | 19,883,041.00  |   | 17,000,000.00  |  |               |  | 36,883,041.00  | 
|        |  | Aggregate Invested Amount                                                                                   |  | 233,918,041.00 |   | 200,000,000.00 |  | 192,090,395.48 |  | 626,008,436.48 | 
|        |  | Class A Principal Funding Account or Capitalized Interest Account (series 1998-A)                           |  | 0.00           |   | 0.00           |  | 1,166,667.00   |  | 1,166,667.00   | 
|        |  | Adjusted Invested Amount                                                                                    |  | 233,918,041.00 |   | 200,000,000.00 |  | 190,923,728.48 |  | 624,841,769.48 | 
|(x).    |  | Series Factor as of 3/31/02 and 3/31/03                                                                     |  |                |   |                |  |                |  |                | 
|        |  |                                                                                                             |  |                |   |                |  |                |  |                | 
|
|        |  | Class A Pool Factor                                                                                         |  | 1.000000       |   | 1.000000       |  |               |  |                | 
|        |  | Class B Pool Factor                                                                                         |  | 1.000000       |   | 1.000000       |  |               |  |                | 
|        |  | Class C Pool Factor                                                                                         |  | 1.000000       |   | 1.000000       |  |               |  |                | 
|(xi)    |  | Yield Factor applicable with Respect to all Collection Periods                                              |  | 1.50           | % |                |  |                |  |                | 
|(xii)   |  | Aggregate Collections of Receivables Comprised of Interest, Fees and Service Charges collected from Dealers |  | 30,458,483.62  |   |                |  |                |  |                | 
|(xiii). |  | Early Amortization Event ?                                                                                  |  |                |   |                |  |                |  |                | 
|        |  | Series 1998-1                                                                                               |  | NO             |   |                |  |                |  |                | 
|        |  | Series 1999-1                                                                                               |  | NO             |   |                |  |                |  |                | 
|        |  | Series 2000-1                                                                                               |  | NO             |   |                |  |                |  |                | 
|(xiv).  |  | Dealers with Receivables exceeding 1% of the Pool Balance as of 3/31/02 and 3/31/03                         |  | 0.00           |   |                |  |                |  |                | 

| |  | NAME:  | /s/TAKUYA WATANABE                         
| |  | ------ | -------------------------------------------
| |  | TITLE: | Senior Vice President & Secretary/Treasurer

---

QuickLinks