Focus Policies for Fiscal 2021While there is no room for complacency, I expect that fiscal 2021 will be a year in which we see the world gradually return to pre-COVID-19 conditions thanks to the expansion of vaccination programs, and we plan to put top priority on delivering our products to customers. Despite the need for increased production in the Land Mobility, Marine Products, and Robotics businesses, we have seen our market share fall with certain product groups and regions due to supply not keeping pace with demand. While we operated at full capacity in the first half of fiscal 2021 from the standpoint of replenishing inventories for developed markets in the Land Mobility and Marine Products businesses, we will care-fully adjust operating conditions in the second half of the fiscal year as we scrutinize market trends. Meanwhile, we expect the moderate recovery for motorcycles in emerging markets to continue. At the same time, demand in China underpinned the Robotics business in the first half of fiscal 2021 and we anticipate that demand will recover in all other markets in the second half of the fiscal year.In fiscal 2021, we intend to leverage this upswing in demand to restore and reinforce the earnings structure of our existing businesses while promoting growth strategies and initiatives for bolstering our business platforms in order to achieve our numerical targets. As for structural reforms, we are steadily moving ahead with efforts to optimize our global production scheme, completing the consolidation of our plants in northern India and beginning the consolidation of our plants in Taiwan in fiscal 2020. In fiscal 2021, as one facet of the restructuring of our production bases aimed at improving production efficiency and market adaptability in Japan, we have decided to reallocate production roles at the Iwata Main Factory and surrounding plants in Shizuoka Prefecture. We expect to invest ¥14 billion by fiscal 2025 and incur just under ¥3 billion to cover relocation costs and other expenses in our spending plan.Meanwhile, we will enact measures to address issues that came to light in our response to COVID-19. Yamaha Motor has thus far worked to optimize its global supply chain from the perspectives of quality, cost, and delivery. As a result, Indonesia and India function today as our primary global supply bases. However, should conditions materialize in which lockdowns are implemented in both countries, there is a risk that the impact would bring production at our facto-ries around the world to a halt. In light of this, I believe we must stabilize and reinforce our supply chain by once again reviewing our global production scheme, logistics functions, and other aspects.Since the 2008 global financial crisis, we have pursued break-even-point management feeling it an imperative to shift to an earnings structure able to withstand sharp declines in sales. Fiscal 2020 put the true value of this approach to the test, with the year’s events highlighting the gap between areas of the Company that have successfully implemented this approach over the past decade and those that have not. Therefore, we will conduct analyses of each subsidiary and department again to thoroughly implement our break-even-point management approach.We also saw major changes in the workstyles of our employees. Although we introduced new workstyles with remote working and the like, areas needing improvement have become apparent. We will thus explore and implement methods that strike a balance between improving the value of our employees’ free time and enhancing corporate pro-ductivity by streamlining work processes and discussing effective ways to use new workstyle systems. At the same time, we will continue elevating our use of digital technolo-gies in preparation for the post-COVID-19 era.15Yamaha Motor Co., Ltd. Integrated Report 2021
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