Yamaha Motor Co. said Monday that Managing Director Takashi Kajikawa will replace Toru Hasegawa as president, effective Jan. 1.
Hasegawa will become chairman of the company.
With the current three-year business plan through December expected to end successfully, Hasegawa said in a statement, "I would like to take this opportunity to hand over the baton to the new management for the further growth of the company."
The motorcycle maker plans to launch a new business plan in January under the new leadership of Kajikawa, 61.
Earlier this month, Yamaha reported a record first-half net profit, a record sales and operating profit and a strong global performance.
"My responsibility is to further give momentum to the current efforts to secure growth and profitability despite a severe business environment," Kajikawa said in a statement.