Medium- to Long-Term StrategiesMedium-Term Management Plan (2022–2024)Medical & healthcare / Agricultural automationExpanding Asset Management Business with Local Partners and Collaborators in India and NigeriaAmong our customers in emerging markets who work with motorcycles, a certain number of them borrow motorcycles from their employer and provide labor. We have established an environment that enables the use of motorcycles without purchasing them as a business, and we are working in collaboration with startups to build an ecosystem that creates jobs. In 2021, we established new companies in India and Nigeria, and started an asset management business as a local joint venture. This scheme enables customers to boost their standard of living while securing a stable income by acquiring mobility. At the same time, the Company can increase its sales as a service-based business for customers who have previously been unable to purchase a motor-cycle with their own funds. Societal IssuesJob creationAsset management expertise cultivated in the New BusinessesCore TechnologiesFinancial Services business and connected technologiesAccelerate business developmentAim for ¥30.0 billion in net sales by fiscal 2024Co-creationEmerging marketsLocal platform operatorsFocus Areas26Background of and Policy for New BusinessesYamaha Motor began the manufacture and sale of motorcycles in 1955, then using its small-engine technology to diversify into offering products for the water, snow, and in the air as it expanded its business. With the diversi-fication of its products and business expansion, the Company’s employees have always been motivated by a desire to create new dimensions of fun and a desire to solve customers’ issues. By moving out onto the front lines around the world and interacting with local colleagues and customers, we have developed better products. Our outboard motors are a good example of this approach. While we are a market leader today, our products were at one time subject to endless complaints and had a terrible reputation as machines leading to financial losses for the company. So we went out onto the waters of Japan and overseas, recording the different sights, sounds, and smells picked up by our senses, and then working with onsite col-leagues to make repeated improvements in order to achieve the market position we enjoy today. This kind of thinking is deeply embedded in how we search for and invest in external partners through Yamaha Motor Ventures, Inc., which works on developing new businesses for the Company. Through joint ventures with partners that share our aspirations, we are working to create new value by leveraging each other’s strengths toward our corporate mission of “Offering new excitement and a more fulfilling life for people all over the world.” Transition to sales acquisition stageMobility services / Low-speed automated vehiclesPush initiatives toward commercializationMobility Services Creating employment opportunities through business and contributing to a better quality of life for people The new businesses we are working on are in fields that contribute to the resolution of our materiality issues: “environment and resources,” “transportation and industry,” and “human capital management.” Our initiatives contribute to the three focus areas under the Long-Term Vision: Advancing Robotics, Rethinking Solution, and Transforming Mobility. positioned new businesses under our strategic business fields, aiming to strengthen our systems for creating future core businesses and to generate sales. Specifically, we are working towards commercialization aiming for net sales of ¥30.0 billion for mobility services and low-speed automated vehi-cles by 2024 and a contribution to our sales from the medical & healthcare and agricultural automation fields by 2030. The Company has a strong tradition of exploring and understanding issues that it should solve through dialogue with numerous partners at work in the field around the world. It is personnel who have this experience that are the source of new value creation. The four fields in our new busi-nesses are also areas where we aim to create value through dialogue with external partners, and in doing so, we will develop human resources around the globe who are able to continuously create future businesses in a sus-tainable manner. This is another reason why we have positioned our new businesses as strategic business fields and are actively allocating manage-ment resources to them as we aim to achieve the aforementioned targets.Furthermore, under the new Medium-Term Management Plan, we have
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