Results of the Voluntary Retirement Program Implementation
Yamaha Motor Co., Ltd. (the “Company”) announced its voluntary retirement program on February 5, 2010. The results of the program’s implementation are as follows.
1.Outline of the plan for the voluntary retirement program
(1)
Number of employees to apply for the voluntary retirement program
800
(2)
Conditions for application
Yamaha Motor full-time employees between 35 and 59 years of age, employed for at least five years as of October 31, 2010. Individuals employed under the post-retirement re-employment scheme and other personnel.
(3)
Period of the offer
From August 16 (Monday) to August 31 (Tuesday), 2010
(4)
Retirement date
October 31, 2010
(5)
Other information regarding implementation of the program
The Company will offer special incentives and other payments to employees who voluntarily take early retirement, and will also help them in seeking new employment.
2.Results of the program
Number of applicants: 932
Retirement date: October 31, 2010
3.Impact on financial results for this fiscal year
Special incentives and other payments to employees voluntarily taking early retirement -- amounting to 11,004 million yen -- were allocated as “business structure improvement expenses,” classified as extraordinary losses in the non-consolidated financial statement of income for the fiscal year ended December 31, 2009. Therefore, these incentives and payments will not have any impact on the financial results for the fiscal year ending December 31, 2010.
