Yamaha Motor Integrated Report 2022
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R&D Expenses by Segment¥95.3 billionand e-Kits in Europe thanks to the reevaluation of the viability of bicycles for commuting to preschools, schools, and work.Marine Products SegmentNet sales in the Marine Products segment increased ¥62.8 billion (19.1%) year on year, to ¥391.1 billion, and operating income was up ¥26.2 billion (51.7%) to ¥76.8 billion. Demand for large outboard motor models remained strong in developed markets, while outboard demand in emerging markets also recovered. Despite the impact of shipping delays due to the global shortage of shipping containers, unit sales rose as a result of an improvement in supply volumes stemming from increased production. Unit sales of personal watercraft also grew because of efforts to respond to delays in raw material procurement. As a result, the Marine Products segment achieved higher sales and profits overall.Robotics SegmentNet sales in the Robotics segment grew ¥37.3 billion (44.9%) year on year, to ¥120.3 billion, and operating income was ¥17.6 billion, com-pared with ¥3.3 billion in fiscal 2020. the effects of COVID-19 subsided, particularly in Asian markets such as In the first half of fiscal 2021, capital investment was galvanized as R&D Expenses Overall R&D expenses for the Yamaha Motor Group amounted to ¥95.3 billion in fiscal 2021. The Yamaha Motor Group’s corporate mission is to be a Kando Creating Company and offer new excitement and more fulfilling lives for people all over the world. To that end, we continuously take on new challenges with our uniquely Yamaha Monozukuri approach—engineering, manufacturing, and marketing products with an empha-sis on craftsmanship and excellence—which aims to create new, original, and innovative ideas and messages; technologies that bring joy and foster trust among our customers; attractive designs that express Refined Dynamism; and the power to forge lifelong ties with Robotics Business ¥8.8 billion(9.2%)Marine Products Business¥13.8 billion (14.5%)Other Products Business¥2.3 billion (2.4%)Land Mobility Business¥70.4 billion (73.9%)China, Taiwan, and South Korea. Unit sales of surface mounters and industrial robots increased due to the strong sales to Japan, Europe, and North America seen in the second half of the fiscal year. In addi-tion, Yamaha Robotics Holdings Co., Ltd. returned to profitability due to strong sales and the benefits of structural reforms. As a result, the Robotics segment achieved higher sales and profits.Financial Services SegmentNet sales in the Financial Services segment were up ¥2.6 billion (5.6%) year on year, to ¥48.6 billion, and operating income rose ¥11.6 billion (153.1%) to ¥19.1 billion. Although receivables from wholesalers decreased as a result of shrinking inventories, sales and profits grew due to a rise in retail financing and a decrease in the allowance for doubtful accounts recorded on a one-time basis.Other Products SegmentNet sales in the Other Products segment grew ¥5.3 billion (7.8%) year on year, to ¥72.7 billion, but operating income declined ¥1.7 billion (97.6%) to less than ¥1.0 billion. Net sales increased due to an upturn in unit sales of golf cars and multi-purpose engines, but operating income decreased from fiscal 2020 due to higher expenses and the absence of one-time factors seen the previous fiscal year. our customers. Through our technologies that interweave human logic with human sensibilities, we offer unique, high-quality products and services with the goals of achieving sustainable growth and improving medium- to long-term corporate value. Moreover, we are ramping up R&D investments targeting new and growing businesses that contrib-ute to a more sustainable world while advancing the development of powertrains compatible with a diverse range of energy sources. We thereby aim to create value in a manner that is unique to Yamaha Motor through the use of digital technologies and the acceleration of co-creation activities. R&D Expenses and R&D Expenses to Net Sales Ratio(¥ billion) 105100959085 R&D expenses 201720182019 R&D expenses to net sales ratio9.08.0957.06.05.35.00020202021(%)85

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