Yamaha Motor Integrated Report 2020

Robotics SegmentNet sales rose ¥0.8 billion, or 1.1%, to ¥75.6 billion, but operat-ing income dropped ¥9.0 billion, or 53.9%, to ¥7.7 billion. Of note, segment earnings for the fiscal year under review newly reflect net sales of ¥12.0 billion and operating losses of ¥2.8 billion for YMRH and its subsidiaries’ second and third quarters (from July to December 2019).Excluding the impact from YMRH and its subsidiaries, sales and profits would have decreased, owing to lower sales volume of surface mounters and industrial robots amid trade friction between the United States and China. Restructuring proceeded as planned after YMRH and its subsidiaries were added to the scope of consolidation.While eyeing trends in demand, Yamaha Motor plans to accel-erate the mutual use of sales channels and offer integrated pro-posals of products that leverage synergies through the introduction of new models and business consolidation.Financial Services SegmentIn this segment, net sales expanded ¥1.9 billion, or 4.8%, to ¥40.9 billion, but operating income decreased ¥4.2 billion, or 34.2%, to ¥8.0 billion.In all regions, the outstanding receivables balance steadily expanded, thanks in part to the commencement of business development in France. Sales increased while profits decreased, reflecting the absence of one-off gains in Brazil recorded in the previous fiscal year.The Company will continue to provide unique and convenient services while expanding its customer base and presence to new regions.Others SegmentIn this segment, net sales were down ¥0.6 billion, or 0.6%, to ¥102.7 billion, and operating losses amounted to ¥0.6 billion, compared with operating income of ¥2.4 billion in the previous fiscal year.Overall, both sales and profits deteriorated, owing to the impact from additional tariffs in the United States and market-related expenses in golf cars and power generators, even though sales were up for high-priced golf cars. R&D Expenses In total for the Yamaha Motor Group, R&D expenses amounted ¥102.0 billion in the fiscal year ended December 31, 2019.The Yamaha Motor Group’s corporate mission is to be a “Kando Creating Company.” We aspire to offer new excitement and a more fulfilling life for people all over the world. To this end, we provide unique and high-quality products and services made available through our technology to interweave human logic with sensibility by continuously striving to achieve “the unique style of Yamaha Motor’s engineering, manufacturing, and marketing,” aiming at creating “new, original, and innovative ideas and mes-sages,” “technology that creates joy and trust among customers,” “attractive designs to express Refined Dynamism,” and “power to build up a lifetime relationship with customers.”We make ongoing efforts to gain recognition from our various stakeholders that the “unique style of Yamaha Motor” constitutes the Yamaha brand, and to make our products and services the lifelong preferred choice for stakeholders. We believe that these efforts will enable us to achieve sustainable growth and enhance our medium- to long-term corporate value.We carry out measures to achieve sustainable growth and enhance corporate value under our Long-Term Vision, with an eye on 2030 and the Medium-Term Management Plan that runs for three years from 2019.Specifically, we carry out strategic investments for growth in such efforts as “Rethinking Solution” unique to Yamaha and “Transforming Mobility,” as we implement “Advancing Robotics” as our core technologies. We also expand human possibilities and contribute to the realization of a better society and more fulfilling life (through our concept of “ART for Human Possibilities”).R&D Expenses Ratio of R&D Expenses to Net Sales(¥ billion)(%) R&D expenses to net sales  R&D expenses ratio1051009020152016201720182019010.09.07.0856.0958.001026.183Yamaha Motor Co., Ltd. Integrated Report 2020

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