Integrated Report 2021(For the year ended December 31, 2020)

Research and DevelopmentYamaha Motor’s Course of Action for Achieving Carbon NeutralityVarious governments and numerous companies have set targets for achieving carbon neutrality between 2030 and 2060. Nonetheless, as carbon-based emissions are deeply embedded in our lives, achieving a carbon-free world is expected to present daunting challenges. Toward achieving carbon neutrality in mobility, many technologies and approaches are being examined, from hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and all-electric vehicles (EVs) to fuel cell vehicles (FCVs) and synthetic liquid fuel. However, when assess-ing things from a product life cycle perspective, the cleanliness levels of the energy sources utilized in production processes and during product use exert a significant environmental impact, making the shift away no easy task. In addition, for smaller and lighter forms of mobility like motorcycles, the issues of luggage capacity and purchase price weigh in more heavily than they do for automobiles, which makes finding opti-mal solutions incredibly difficult. It will be hard to maintain the value presented by conventional forms of personal mobility with the techno-logical methods currently under consideration. For that very reason, we believe we must create personal mobility with new forms that also offer new value.The Fun of Mobility Itself Is a Key ValueToday, as the value of mobility is being reassessed, what lies at the center of this is a tendency to focus on making mobility easier and more relaxed, for example, as symbolized by the CASE movement. CASE places value on safely reaching a destination by automatic means and in a shorter time. However, we believe that a key value of personal mobility is the fun of mobility itself. Needless to say, while the resolution of societal issues is a top priority, what we want to aim for is fun and eco-friendly mobility that is there and ready for you when a sunny day and good mood entice you to go out for a quick jaunt. The key phrase of our Long-Term Vision is “Let’s strive for greater happiness.” Guided by this phrase, we will create mobility that brings greater joy while tackling societal issues in the unique style of Yamaha.The environment for mobility is said to be undergoing a once-in-a-century revolution, including efforts to achieve carbon neutrality, the major steps made toward “connected, autonomous, shared, and electric” (CASE) vehicles, and new electric vehicle (EV) manufacturers joining the industry. Yamaha Motor is conducting research and development to address and bring change to a variety of mobility-related societal issues. The Company is also pursuing the development of technologies that bring fun to mobility, one of the intrinsic values of personal mobility, while never straying from the unique style of Yamaha.We will create mobility that brings greater happiness to people withR&D aimed at addressing societal issues as our top priority. Heiji MaruyamaSenior Executive Officer and DirectorChief General Manager of Technical Research & Development CenterDirection of Our New Technology DevelopmentYamaha Motor will expand its domains of operation by linking Companywide businesses and technological fields to create new technologies and businesses.• Serve as a bridge linking core technologies among each business• Create new technologies and businesses aimed at creating new value• Expand technologies and businesses into growing peripheral as well as new domains in line with the focus of each businessLand Mobility Business OperationsMarine Business OperationsSolution Business OperationsGrowth TrajectoryGrowth TrajectoryGrowth Trajectory38Foundations for Creating CompetitivenessYamaha Motor Co., Ltd. Integrated Report 2021

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