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

Dialogue between Outside OfficersBoard meeting in April 2020. President Hidaka’s prompt deci-sion to enact the business continuity plan after gleaning the hints of the great changes to come from those reports left a strong impression. Actions addressing external stakeholders were also swift, including rescinding the business targets for the fiscal period that had just been disclosed to shareholders and investors in February. I feel the speed at which Yamaha Motor moved was much faster than its peers, especially those that also have December fiscal year-ends. This episode exhibits the high crisis control capabilities of Yamaha Motor’s management as well as its ability to unite the entire Company in action.Yone That is true. However, I believe that the process of responding to the COVID-19 pandemic also cast light on some of the issues Yamaha Motor faces in its global operations, specifically with the degree to which close, coordinated relationships have been forged between the headquarters and its overseas bases. From a legal affairs perspective, it is crucial for all employees around the world to maintain an awareness that they are part of a global company and to exercise the responsibility this represents in their daily actions. Doing so is important because it is this awareness that allows for major compliance issues to be addressed swiftly and accurately, no matter where in the world they may occur. I hope that Yamaha Motor will increase its efforts to communicate this importance to employees across the globe in the future. For example, every employee must be aware that, even if an issue presents no violation of local laws, it may constitute a massive problem when looking at international standards.Ohashi Fiscal 2020 was the second year of the current Medium-Term Management Plan, and I think Yamaha Motor was able to advance its growth strategy initiatives while strik-ing a very good balance with management given the extreme circumstances. Meanwhile, steady progress was made in rein-forcing management platforms, making structural reforms, promoting digital transformation, and carrying out other measures that will be needed to realize the Long-Term Vision for 2030. Although the pace of some efforts did slow some-what due to implementing COVID-19 countermeasures, our current discussions include devising ways to make up for these delays under the next Medium-Term Management Plan, which is slated to begin in fiscal 2022.Yone One concern I have is how the impacts of the COVID-19 pandemic have spread to all corners of society, and as sustainability topics like the United Nations’ Sustainable Development Goals gain greater attention, the world is rapidly changing course away from what has been the long-held norm. From that, I personally feel that Yamaha Motor needs to further accelerate its CO2 emissions reductions and other In running a global operation, it is vital that we all move forward in the same direction with our employees around the world.56Corporate Governance Yamaha Motor Co., Ltd. Integrated Report 2021

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