TOKYO (Reuters) - Japan's Honda Motor Co and Yamaha Motor Co said they would hold a joint news conference at 3:30 p.m. (0630 GMT) on Wednesday concerning their motorcycle businesses.

The Nikkei business daily reported on Wednesday that the two companies - fierce rivals in the global motorcycle business - would join forces in the production and development of two-wheelers as a sharp decline in their home market takes a toll.

Yamaha will shift its production in Taiwan of 50cc scooters sold in Japan to Honda's Kumamoto factory in southern Japan, the Nikkei said.

(Reporting by Chang-Ran Kim; Editing by Eric Meijer)