News Release

Yanmar Co., Ltd. (hereafter “Yanmar”) and Yamaha Motor Co., Ltd. (hereafter “Yamaha”) today announced that they have agreed to a business alliance for the U.S. ROV (Recreational Off-Highway Vehicle) business. The companies will conclude a contract by the end of the year for the OEM supply of Yamaha’s multi-purpose VIKING and VIKING VI (both Yamaha model names) ROV models to Yanmar from December 2016, and for Yanmar to sell these products under the Yanmar brand name from January 2017 utilizing its farmer-oriented dealer network in the U.S.

The aim of this business alliance is to expand sales in the growing U.S. ROV market by leveraging the strengths of the two companies, namely Yamaha’s technical capabilities and manufacturing know-how, and Yanmar’s farmer-oriented dealer network in the U.S.
The two companies share the same values of creating and developing markets through Monozukuri (engineering, manufacturing and marketing), and have previously worked together in the fields of industrial-use unmanned helicopters, generators, and snow blowers.

The demand for ROVs in the U.S. market has been increasing in recent years, and they are used for a variety of applications, from practical work such as agriculture and dairy farming, to leisure-oriented purposes. To meet the needs of this market, in 2013 Yamaha launched the VIKING, a 3-seater multi-purpose model which provides practicality, easy handling, and comfort, and in 2014 launched the VIKING VI, a 6-seater model which delivers high-grade driving performance and comfort for a large number of passengers. Yanmar has for many years supplied just diesel engines and drive units to the U.S. agricultural transportation vehicle (including ROVs) market. Through this business alliance, Yanmar is taking the next step towards entering the ROV product sales field.
The two ROV models to be supplied on an OEM basis from Yamaha to Yanmar feature an exterior design refreshed to Yanmar specifications through new coloring and graphics, and will be sold under the Yanmar brand and model name as new gasoline engine-powered products. Manufacturing will be carried out in the state of Georgia by Yamaha Motor Manufacturing Corporation of America.

Outline of Yamaha Motor Co., Ltd.

Company Name

Yamaha Motor Co., Ltd.

Headquarters

2500 Shingai, Iwata, Shizuoka, Japan

Founded

July 1, 1955

Representative

Hiroyuki Yanagi, President, CEO, and Representative Director

Capital

85,782 million yen

Employees

53,306 (Yamaha Motor Group consolidated basis; as ofDecember 31, 2015)

Business Activities

Manufacturing and sale of motorcycles, scooters, electrically power assisted bicycles, boats, water vehicles, pools, Japanese-style boats, fishing boats, outboard motors, all-terrain vehicles, recreational off-highway vehicles (ROVs), engines for racing carts, golf cars, general-purpose engines, generators, water pumps, snowmobiles, compact snow blowers, automobile engines, surface mounters, industrial robots, industrial-use unmanned helicopters, electrical power units for wheelchairs, helmets for road use, etc.

Net sales

1,615,400 million yen (consolidated basis, for fiscal year 2015 ending December 31)

Outline of Yanmar Co., Ltd.

Company Name

Yanmar Co., Ltd.

Headquarters

1-32, Chayamachi, Kita-ku, Osaka, Japan

Founded

March 22, 1912

Established

January 28, 1936

Representative

Takehito Yamaoka, Representative Director, Chairman and President

Capital

6,300 million yen

Employees

Approx. 18,000 (Yanmar Group consolidated basis; as ofMarch 31, 2016)

Business Activities

Research, development, manufacturing, and sale of small engines, large engines, agricultural machinery and facilities, construction equipment, energy systems, marine, machine tools and components, etc.

Net sales

703,800 million yen (consolidated basis, for fiscal year 2016ending March 31)