It was based on
http://motorbike-search-engine.co.uk/classic_bikes/fz-750.jpgThese were a sensation when released very radical and technical at the time. Steep inclined cylinders giving a straight through downdraught (fore runner to ram air) induction effect, 5 valves per cylinder to reduce reciprocating mass of the valve gear for higher revving, spin off was 27,000 mile valves clearance checks, box section frame, nose firing, a genuine 150mph and vented discs all very trick. It was the bike to have and beat in 85, it got trounced by the GSX-R750 in 86!
Yam came back with the FZR750 Genesis later in 86 and they swapped back and forth until 89 when most manufactures dropped 750s. Yam upped the cc to 989 and introduced the FZR1000 Genesis in 87 in answer to GSX-R1100 of 86 which blow away every open class prody racer and big sports bike in 86. The thou was a a real tool, but couldn't match the GSX-R for grunt so they introduced the EXUP in 89 with increase to 1002cc and an EXUP valve, making the bike on more par with the GSX-R in grunt. Suzuki moved on to GSX-R1100K basically a sling shot 1100 a real brute. The engine was unbelievable at the time but unlike the 750 the handling was very iffy just too much power and overwhelmed the chassis and more importantly the tyres. It killed Phil Mellor at the 89 TT and a few owners.
Sorry gone off on one a little
The 5 valvers or Genesis engines as they became known where excellent engines. The Yanks back in 85 weren't all that keen on race reps so they gave birth to the street rep i.e. the "Fazer" and as Deffer says the reduced the cc to get around the law, the rest is history!