
Cut out the connector and replace it with directly soldered wires. Each yellow wire coming from the stator at the bottom of the engine should be connected to a yellow wire that runs to the rectifier. Strip and twist the wires together, solder them, and cover with heat-shrink tubing. It doesn't matter which yellow wire is connected to which - as long as each of the three wires coming from the stator is connected to one of the wires going to the rectifier.
I looked at mine at the beginning of last spring, and it looked fine. Being that it had been fine for many years, I decided to leave well enough alone. A few months later I looked again, and found this:

Do it before yours look like this!
