Yamaha Motor Integrated Report 2020

Value offeredTechnology requiredToward reliable and rich marine lifestyles• System supplier strategy: To provide more reliable boats, we will shift from an outboard motor-focused business to growing the peripheral systems business, including boat control systems.• Over the long term, we will introduce products such as highly reliable and high-value-added automated boat control systems to evolve the business from one that provides products to one that provides experiences. Overview of Fiscal 2019 In North America and Europe, our main markets for outboard motors, the transition toward large outboard motors continues and net sales increased due to an improvement in the product mix stemming from this rising demand. However, foreign exchange effects incurred losses of ¥6.4 billion on net sales and ¥4.1 billion on operating income, resulting in an overall net sales increase of 2.0% year on year, to ¥345.1 billion, while seeing operating income fall 3.9%, to ¥58.4 billion. Measures Going Forward In fiscal 2020, we had planned to capture more of the ongoing steady demand for large outboard motors, personal watercraft, and large boats in North America, Europe, and other markets. However, we anticipate a significant impact on our plans from the global COVID-19 pandemic. While swiftly and flexibly implementing adjustments to production and sales in response to demand fluctuations, we will continue our product development and R&D efforts unfazed in anticipation of a recovery over the medium to long term.Integrated Marine Business StrategyProduct Development StrategiesContinuing the provision of attractive products / servicesElectric propulsion units“Smart Package” boatsNext-generation boat control systemsEXULT43 cruiserLarge 425-horsepower outboard motorsSolutionsIoTBen SpecialeDeputy Executive Officer,Senior Vice President, Yamaha Motor Corporation, U.S.A. (YMUS)President, U.S. Marine Business Unit• Increased production capacity for large outboard motors• Developed DRiVE, an innovative next-generation boat control system which offers easy, comfortable, and enjoyable boat operation• Developed and commenced sales of the 275SD sport boat, a large craft that provides sharp, sporty handling thanks to a newly designed hull and boasts elegant styling and spacious onboard comfortProgress of Priority Initiatives COVID-19 showed Americans that social distancing at home provided more time to spend in the great outdoors. When more people spend time with their family boating and fishing, it can create growth opportunities for Yamaha Marine while the economy slowly recovers.We see new buyers are purchasing more premium products with greater feature content. The 200+ horsepower market has seen the most positive recovery due to more advances, reliable power, and integrated boat control systems. We plan to continue to focus on our new XTO425 platform as well as the new Helm Master EX, the next generation of integrated boat control systems with fully electric steering.Like most companies, boat manufacturing plants paused production in March and April; now nearly all our core customers are back to pre-COVID-19 capacity. With the lack of package-boat supply during the shutdowns and retail remaining above previous fiscal years’ volume, our dealers are low on inventory. This means we need to listen and respond more quickly to match supply to demand for the remainder of 2020. Going forward, I will lead our team to make quick decisions to respond while listening carefully to market demand in order to sufficiently supply products to our customers.Message from Management73Yamaha Motor Co., Ltd. Integrated Report 2020

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