Yamaha Motor Integrated Report 2022

Results for Fiscal 2021 In 2021, the final year of the previous Medium-Term Management Plan, we worked to strengthen the high-profit business structure and build platforms for sustainable growth. Under the system supplier strategy, which we positioned as a growth strategy, we started full-scale introduction of the Helm Master™ EX and expanded sales of peripheral equipment. In addition, we acquired smart boat technology company Siren Marine, Inc. in the United States to further expand our business. In the outboard motor business, the bedrock of our high-profit structure, we have continued Operating income (right axis) Net sales Reliable and Rich Marine Life —A Business that Further Increases the Value of the OceanStrengthsOpportunitiesRisks• Unquestioned product reliability centered on integrated control technologies• Overall business strength supported by wide-ranging business domains and an expansive product lineup• Sales and service capabilities spanning the global market• Growing demand for large outboard motors centered on developed markets• Expansion of peripheral equipment business due to advances with integrated control technologies• Changing sense of value pertaining to marine recreation spurred by staycation demand• Dramatic market changes against the backdrop of climate change, rapid technological innovation, etc.• Supply chain disruptions and high costs for raw materials and logistics• Rapid changes in exchange rates, regulations, etc.(¥ billion)Main competitorsMercury Marine, Suzuki, Honda, TohatsuYanmar, Toyota, SuzukiBRP, Kawasaki30Net Sales / Operating Income / Operating Income Margin(¥ billion) 600Overview of Primary Products and Main Competitors15.4%4503001502020Outboard motorsBoatsPersonal watercraft20.8%19.6%20212022 (Forecast) Operating income marginMarket and conditions at Yamaha MotorOutdoor and family recreation demand surged after lockdowns, mainly in developed markets. We will increase production capacity to meet the increase in demand. The domestic boat market is relatively stable and we will offer higher-value-added plea-sure-use boats. With Sea-Style and our other service-based businesses, we will strengthen our development of services in line with customer preferences.The North American market accounts for the majority of demand and is growing in scale yearly as uses for personal watercraft broaden. We will strengthen development of high-value-added products.10075502500working to increase production capacity to meet the high demand for large outboards, driven by staycations. In addition, as a first step in developing new products related to the future target of carbon neu-trality, we launched our HARMO next-generation electric boat control system in Europe. By steadily carrying out these activities, we achieved our annual business targets with net sales of ¥391.1 billion and an operating income of ¥76.8 billion, despite supply chain disruptions such as shipping container shortages and component provision delays.Net Sales Breakdown by Main Product Category(Fiscal 2021)Personal watercraft, boats, etc.45.6% Outboard motors54.4% Marine Products

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