Yamaha Motor Integrated Report 2020

given region, we have become able to swiftly determine how it will affect us and how best to deal with it.Nevertheless, the global spread of COVID-19 marked the first time that we have been forced to suspend operations simultaneously around the world. Based on this experience, we are implementing three countermeasures. The first is the promotion of e-commerce. As it becomes increasingly dif-ficult to maintain our physical touchpoints with customers due to limits or restrictions on people leaving their homes, we will broaden our businesses’ digital touchpoints with customers and establish an optimal combination of digital and face-to-face customer interaction. The second is transitioning to new work styles. The extent to which we can ensure production efficiency at our plants while taking all possible measures to prevent infection on the frontlines will be vital. For our office-based employees, we must also revise our personnel systems so that they can achieve results while working from home. I believe that once this new work style becomes established, we will see each employee place greater value on the time they are able to save on commuting or make the most of their spare time. The third measure is further strengthening our supply chain. Yamaha Motor products are sold around the world and many are manufactured in countries outside of their destination market. Our production structure is such that when manufac-turing—including parts and components—ceases in one country, many other countries where our products are sold are significantly affected. In light of current circumstances, we are working to stabilize and strengthen our supply chain by reviewing our global production structure and logistics func-tions, the appropriate products and parts by type as well as inventory volumes for each country, etc. A comparatively large proportion of our products are used for leisure and recreation, and as governments throughout the world begin to lift restrictions on going out, spending money on hobbies and leisure may remain a low priority, even if governments enact economic stimulus policies. On the other hand, I am also hopeful that demand for our prod-ucts as accessible outdoor vehicles and tools will be stimu-lated in the post-COVID-19 world. Demand for Yamaha Motor products such off-road motorcycles, sport boats, and personal watercraft is already recovering due to a growing trend for enjoying nearby places and the outdoors following the easing of lockdown restrictions primarily in Europe and the United States.Furthermore, in regions with extensive and well-developed public transportation, calls to avoid closed spaces, crowded gatherings, and close contact with others have reminded people of the advantages of personal mobility options like motorcycles and electrically power-assisted bicycles. In the logistics industry where essential workers support people’s daily lives, motorcycles are being reappraised for their mobility and ability to avoid or better navigate traffic con-gestion. I believe that these developments will lead to new demand going forward.As for our Robotics business, although I expect global capital expenditures to remain sluggish for a time, I am certain that the bolstering of communications infrastructure and other developments will prompt a growth in demand over the medium to long term. We must steer management while accurately assessing conditions. Naturally, our policy is to prevent the further spread of COVID-19 by prioritizing the lives of our employees and stakeholders first and then minimizing our business losses. Although we have yet to announce our performance forecasts for fiscal 2020, we intend to do so as soon as possible and are currently scruti-nizing the impacts of COVID-19 on our supply chain, plans, and business performance. I know that this will be a particularly challenging year. We will do our utmost to calmly assess market conditions and tena-ciously work toward achieving the Medium-Term Management Plan while maintaining a constant sense of urgency. We will calmly assess market conditions and tenaciously work toward achieving our goals. From the PresidentToward Sustainable Growth14Yamaha Motor Co., Ltd. Integrated Report 2020

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