FACT BOOK 2018 - Yamaha Motor Global

 
FACT BOOK 2018 - Yamaha Motor Global
FACT BOOK 2018
FACT BOOK 2018 - Yamaha Motor Global
Contents

Corporate Section
  2   Corporate Profile

  2   Corporate Philosophy (Corporate Mission / Management Principles / Action Guidelines)

  3   Operating Performance

  3   Sales Breakdown by Business

  3   Sales Breakdown by Region

  4   Organization

  5   Board of Directors, Audit & Supervisory Board Members and Executive Officers

  6   Group Companies

  7   History

  8   Number of Employees / Number of Recruited Graduates

Product Business Section
 10   Motorcycles

 13   Boats

 14   Marine Engines

 16   Personal Watercraft

 17   Swimming Pools

 18   All-Terrain Vehicles & Recreational Off-highway Vehicles

 19   Snowmobiles

 20   Golf Cars

 21   Generators

 21   Snow Throwers

 22   Electrically Power Assisted Bicycles

 24   Electric Wheelchairs

 25   Surface Mounters and Industrial Robots

 26   Automobile Engines

 27   Industrial-use Unmanned Helicopters

 26   Other Products
FACT BOOK 2018

Corporate Section
Corporate Profile
    Corporate name:                    Yamaha Motor Co., Ltd.

    Founded:                           July 1, 1955

    Headquarters:                      2500 Shingai, Iwata, Shizuoka 438-8501, Japan

    President:                         Yoshihiro Hidaka

    Capital:                           85,797 million yen (as of Dec. 31, 2017)
                                                                                                                                                              Yamaha Motor Co., Ltd.
    Number of shares:                  Authorized: 900,000,000
                                       Issued: 349,914,284 (as of Dec. 31, 2017)

    Number of employees: Consolidated basis: 53,579
                         Non-consolidated basis: 10,564 (as of Dec. 31, 2017)

    Group companies:                   Number of consolidated subsidiaries: 112 (Japan: 21 Overseas: 91)
                                       Number of non-consolidated subsidiaries accounted for by the equity method: 3
                                       Number of non-consolidated affiliates accounted for by the equity method: 26 (as of Dec. 31, 2017)

    Lines of business:	Manufacture and sales of motorcycles, scooters, electrically power assisted bicycles, boats, sailboats, personal watercraft,
                        pools, utility boats, fishing boats, outboard motors, ATVs, recreational off-highway vehicles, racing kart engines, golf cars,
                        multi-purpose engines, generators, water pumps, snowmobiles, small snow throwers, automobile engines, surface
                        mounters, intelligent machinery, industrial-use unmanned helicopters, electrical power units for wheelchairs, helmets. Im-
                        port and sales of various types of products, development of tourist businesses and management of leisure, recreational
                        facilities and related services.

       Corporate Philosophy

    - Corporate Mission -
    Kando* Creating Company
    Offering new excitement and a more fulfilling life for people all over the world
    Yamaha Motor strives to realize peoples' dreams with ingenuity and passion, and to always be a company people look to for the next exciting
    product or concept that provides exceptional value and deep satisfaction.
    * Kando is a Japanese word for the simultaneous feelings of deep satisfaction and intense excitement that we experience when we encounter something of exceptional value.

    - Management Principles -

    1. Creating value that surpasses customer expectations
        To continue to produce value that moves people, we must remain keenly aware of the customer's evolving needs.
        We must strive to find success by always surpassing customer expectations with safe, high-quality products and services.

    2. Establishing a corporate environment that fosters self-esteem
        We must build a corporate culture that encourages enterprise and enhances corporate vitality.
        The focus will be on nurturing the creativity and ability of our employees, with an equitable system of evaluation and rewards.

    3. Fulfilling social responsibilities globally
        As a good corporate citizen, we act from a worldwide perspective and in accordance with global standards.
        We must conduct our corporate activities with concern for the environment and communities and fulfill our social responsibility with honesty
        and sincerity.

    - Action Guidelines -

    Acting with Speed                        Meeting change with swift and informed action
    Spirit of Challenge                      Courage to set higher goals without fear of failure
    Persistence                              Working with tenacity to achieve desired results, and then evaluating them

2
Operating Performance (Consolidated Basis)
                                                                                                                        (Unit: billion ¥; rounded off to one decimal place)

                                                                           FY2015               FY2016                 FY2017                    FY2018 (Plan)
                                                     Net sales                                                                                                                Operating
                                                                                                                                                                              income
                                                        1,800              1,631.2                                     1,670.1                       1,700.0
                                                                                                1,502.8                                                                       200
                                                                                                                                                                              160
      Net sales
                                                        1,200                                                          149.8                           150.0                  120
                                                                           130.3                                                                                               80
      Operating income                                                                              108.6
                                                                                                                                                                               40
                                                                                                                                                                                 0
                                                          600

Ordinary income                                                          125.2                   102.1               154.8                           155.0
Profit attributable to owners of parent                                   60.0                    63.2               101.6                           103.0
Exchange rate (USD)                                                    121 JPY                 109 JPY             112 JPY                         105 JPY
Exchange rate (EUR)                                                    134 JPY                 120 JPY             127 JPY                         130 JPY
Capital expenditures                                                      64.1                    61.3                56.5                            58.0
Depreciation expenses                                                     44.3                    42.4                45.5                            48.6
Research and development expenses                                         91.3                    94.9                99.2                           105.3
Equity ratio                                                            37.6%                   40.5%               44.0%                           48.3%
Interest-bearing debt                                                    410.1                   364.4               353.5                           350.0
Debt/equity ratio (gross)                                                 0.84                    0.68                0.57                            0.50
ROE                                                                     12.6%                   12.3%               17.6%                           15.6%
Cash and cash equivalents at the end of the year                         107.6                   135.5               155.6                                 ̶
Percentage of overseas sales                                            89.8%                   89.1%               89.8%                            89.4%
Percentage of motorcycle business sales                                 63.3%                   61.9%               62.6%                            62.9%
Net cash provided by (used in) operating activities                       28.5                   143.2               126.3                                 ̶
Net cash provided by (used in) investing activities                     (68.5)                  (46.5)              (53.2)                                 ̶
Net cash provided by (used in) financing activities                         6.8                 (67.6)              (52.8)                                 ̶

 Sales Breakdown by Business                                                         Industrial machinery and robots
                                                                                     67.6 (4.0%)                                Major products in each segment
 (Consolidated Basis)                                                                                 Other products
                                                                                                                                “Motorcycles”
                                                                                                      81.8 (4.9%)               Motorcycles and knockdown parts
                                                                                                                                for overseas production, etc.
                             Power products
                                                                                                                                “Marine products”
                             151.6 (9.1%)                                                                                       Outboard motors, boats,
                                                                                     FY2017                                     personal watercraft, pools, etc.
                             Marine products                                                                                    “Power products”
                                                                                   Net sales                                    ATVs, recreational off-highway vehicles,
                             323.8 (19.4%)
                                                                                     1,670.1                                    snowmobiles, golf cars, generators, etc.
                                                                                                                                “Industrial machinery and robots”
                                                                                                                                Surface mounters, industrial robots, etc.
                                                                                  Motorcycles                                   “Other products”
                                                                                  1,045.2 (62.6%)                               Electrically power assisted bicycles,
                     (Unit: billion ¥; rounded off to one decimal place)                                                        automobile engines, etc.

 Sales Breakdown by Region
 (Consolidated Basis)                    Other areas                                                         Japan
                                         194.6 (11.7%)                                                       169.9 (10.2%)

                                                                                     FY2017                  North America
                                         Overseas                                  Net sales                 358.1 (21.4%)
                                         1,500.2 (89.8%)
                                                                                     1,670.1
                                                                            Asia
                                                                            733.7 (43.9%)                    Europe
                                                                                                             213.8 (12.8%)
                     (Unit: billion ¥; rounded off to one decimal place)

                                                                                                                                                                                          3
Organization (As of April 1, 2018)
                                                                                            Integrated Auditing Division
                                                                             Human Resources & General Affairs Center
                                                                                            Human Resources Division
                                                                                            Global Human Resources Development Division
                                                                                            General Affairs Division
                                                                                            Risk Management & Compliance Division
                                                                                            Legal & Intellectual Property Division
       General Meeting of Shareholders                                                      Government & Industrial Affairs Division
                                                                             Corporate Planning & Finance Center
             Audit & Supervisory Board           Audit & Supervisory Board
                                                                                            Corporate Planning Division
                                                 Members’ Office                            Finance & Accounting Division
       Board of Directors                                                                   Business Management Division
       Chairman                                                                             Process & IT* Division
       President & CEO*             Management Committee                                    Corporate Communication Division
                                                                                            Financial Service Development Division
                                    Risk Management and Compliance           Design Center
                                    Committee
                                                                             Mobility Technology Center
                                                                                      NPM* Business Section
                                                                                      EM* Development Section
                                                                                      Motor Sports Section
                                                                             Advanced Technology Center
                                                                                      New Venture Business Development Section
                                                                                      Research & Development Section
                                                                                      Technology Planning Section
                                                                             Manufacturing Center
                                                                                      Manufacturing Planning Section
                                                                                      Body Manufacturing Section
                                                                                      Engine Manufacturing Section
                                                                             Procurement Center
                                                                                      Strategy Planning Section
                                                                                      Procurement Section
                                                                             Powertrain Unit
                                                                                      Powertrain Development Section
                                                                                      Component Section
                                                                             PF* Model Unit
                                                                                      Engineering Promotion Section
                                                                                      PF Model Development Section
                                                                                      Component Section
                                                                             CS* Center
                                                                                      After Sales Section
                                                                                      Spare Parts Section
                                                                             Motorcycle Business Operations
                                                                                 1st Business Unit
                                                                                 2nd Business Unit
                                                                                      Total Strategy Section
                                                                                      Quality Assurance Section
                                                                             Marine Business Operations
                                                                                 Marine Engine Business Unit
                                                                                      Development Section
                                                                                 Boat Business Unit
                                                                                 Marine Business Unit
                                                                                      Planning Section
                                                                                      Marketing Section
                                                                                 Automotive Business Unit
    * Abbreviations:                                                             Overseas Market Development Operation Business Unit
                                                                             Solution Business Operations
     CEO: Chief Executive Officer
                                                                                 Robotics Business Unit
     IT: Information Technology                                                       Surface Mount Technology Section
     NPM: New Personal Mobility                                                       Factory Automation Section
     EM: Electric Mobility                                                            Unmanned System Section
                                                                                 Smart Power Vehicle Business Unit
     PF: Platform
                                                                                      Pool Business Development Section
     CS: Customer Service                                                        Yamaha Motor Powered Products Co., Ltd. (YMPC)

4
Board of Directors, Audit & Supervisory Board Members and Executive Officers
    (As of April 1, 2018)

Board of Directors                                Audit & Supervisory Board Member                   Executive Officer
                                                  (Outside)                                          Satohiko Matsuyama
Chairman and Representative Director              Tomomi Yatsu                                       Chief General Manager of Manufacturing Center
Hiroyuki Yanagi
                                                  Audit & Supervisory Board Member                   Executive Officer
                                                  (Outside)                                          Minoru Morimoto
                                                  Masahiko Ikaga                                     President of PT. Yamaha Indonesia Motor
                                                                                                     Manufacturing

                                                  Executive Officers                                 Executive Officer
                                                  President and Chief Executive Officer
                                                                                                     Yasuo Tanaka
                                                                                                     Chief General Manager of CS Center
                                                  Yoshihiro Hidaka
                                                                                                     Executive Officer
President and Representative Director
                                                  Executive Vice President                           Motofumi Shitara
Yoshihiro Hidaka                                  Katsuaki Watanabe                                  Managing Director of Yamaha Motor India Pvt.
Chief General Manager in charge                                                                      Ltd., and Managing Director of Yamaha Motor
of Corporate and Marine                                                                              India Sales Pvt. Ltd.
                                                  Managing Executive Officer
                                                  Toshizumi Katou                                    Executive Officer
                                                                                                     Eric de Seynes
                                                  Senior Executive Officer                           President of Yamaha Motor Europe N.V.
                                                  Katsuhito Yamaji
                                                                                                     Executive Officer
                                                  Senior Executive Officer                           Dyonisius Beti
Representative Director
                                                  Makoto Shimamoto                                   COO of PT. Yamaha Indonesia Motor
Katsuaki Watanabe                                 Chief General Manager of Mobility Technology
                                                                                                     Manufacturing
Chief General Manager in charge                   Center
of Motorcycle, CS, Market                                                                            Executive Officer
Development, Automotive, and                      Senior Executive Officer                           Toshihiro Nozue
Advanced Technology
                                                  Tatsumi Okawa                                      Executive General Manager of Marine Engine
                                                  Chief General Manager of Corporate Planning &      Business Unit, Marine Business Operations
                                                  Finance Center
                                                                                                     Executive Officer
                                                  Senior Executive Officer                           Satoshi Hirose
Director                                          Yoichiro Kojima                                    Deputy Chief General Manager of Manufacturing
                                                                                                     Center, and Senior General Manager of Engine
Toshizumi Katou                                   Chairman of Yamaha Motor Europe N.V.
                                                                                                     Manufacturing Section, Manufacturing Center
Chief General Manager in charge of Solution and
Alliance Strategy                                 Senior Executive Officer                           Executive Officer
                                                  Hiroaki Fujita                                     Hiroyuki Ota
Director                                          Chief General Manager of Advanced Technology
                                                                                                     Executive General Manager of Robotics Business
                                                  Center, Senior General Manager of New Venture
Katsuhito Yamaji                                  Business Development Section, Advanced
                                                                                                     Unit, Solution Business Operations, Senior
Chief General Manager in charge of                                                                   General Manager of Surface Mount Technology
                                                  Technology Center, and Chief General Manager
Manufacturing, Procurement and Powertrain                                                            Section, Robotics Business Unit, Solution
                                                  of Solution Business Operations
                                                                                                     Business Operations, and General Manager of
                                                                                                     Quality Assurance Division, Robotics Business
Director                                          Senior Executive Officer                           Unit, Solution Business Operations
Makoto Shimamoto                                  Masahiro Inoue
                                                  Chief General Manager of Procurement Center        Executive Officer
Chief General Manager of Vehicle Development
and Design                                                                                           Itaru Otani
                                                  Senior Executive Officer                           President of Yamaha Motor do Brasil Ltda., and
Director                                          Junzo Saitoh                                       President of Yamaha Motor da Amazonia Ltda.

Tatsumi Okawa                                     Chief General Manager of Human Resources &
                                                  General Affairs Center                             Executive Officer
                                                                                                     Takeo Noda
Director (Outside)                                Senior Executive Officer                           Deputy Chief General Manager of Corporate
Takuya Nakata                                     Kazuhiro Kuwata                                    Planning & Finance Center
                                                  President of Yamaha Motor Corporation, U.S.A.
                                                                                                     Executive Officer
Director (Outside)
Atsushi Niimi                                     Senior Executive Officer                           Toshiaki Ibata
                                                  Hirofumi Usui                                      Executive General Manager of Boat Business
                                                                                                     Unit, Marine Business Operations
Director (Outside)                                Chief General Manager of Marine Business
                                                  Operations, and Executive General Manager of
Genichi Tamatsuka                                 Marine Business Unit, Marine Business Operations   Executive Officer
                                                                                                     Toyoshi Nishida
                                                  Executive Officer
Director (Outside)                                                                                   Chief General Manager of PF Model Unit and

Takehiro Kamigama                                 Yoshitaka Noda                                     Senior General Manager of PF Model
                                                                                                     Development Section, PF Model Unit
                                                  Chief General Manager of Powertrain Unit

                                                  Executive Officer                                  Executive Officer
Audit & Supervisory                               Akihiro Nagaya                                     Takuya Kinoshita
                                                                                                     Chief General Manager of Motorcycle Business
Board Members                                     Chief General Manager of Design Center             Operations, and General Manager of New Value
                                                                                                     Business Development Division, Motorcycle
Audit & Supervisory Board Member                  Executive Officer                                  Business Operations
Hiroshi Ito                                       Heiji Maruyama
                                                  Deputy Chief General Manager of Powertrain
Audit & Supervisory Board Member                  Unit, Chief General Manager in charge of
                                                  Automotive Business, and Chief General
Kenji Hironaga                                    Manager in charge of NLV Business Development

                                                                                                                                                      5
Group Companies

    JAPAN                                              PT. Yamaha Motor Parts Manufacturing Indonesia        France
    Yamaha Motorcycle Sales Japan Co., Ltd.            (YPMI)                                                MBK Industrie
    Yamaha Motor Engineering Co., Ltd.                 PT. Toyo Besq Precision Parts Indonesia (TBI)         Spain
    Sugo Co., Ltd.                                     PT. Yamaha Motor Electronics Indonesia (YEID)         Motor Center BCN S.A.
    Yamaha Kumamoto Products Co., Ltd.                 PT. Yamaha Motor Mold Indonesia (YMMID)               Finland
    Yamaha Marine Hokkaido Manufacturing Co., Ltd.     PT. Yamaha Motor RND Indonesia (YMRID)                Inhan Tehtaat Oy Ab
    Yamaha Amakusa Manufacturing Co., Ltd.             PT. Sakura Java Indonesia                             Russia
    Yamaha Marina Co., Ltd.                            PT. Kyowa Indonesia                                   LLC Yamaha Motor CIS (YMCIS)
    Y's Gear Co., Ltd.                                 PT. Bussan Auto Finance (BAF)                         Turkey
    Yamaha Motor Powered Products Co., Ltd.            The Philippines                                       Yamaha Motor Sanayi ve Ticaret Limited Sirketi
    Nishi Nippon Skytech Co., Ltd.                     Yamaha Motor Philippines, Inc. (YMPH)                 (YMTR)
    Yamaha Motor Electronics Co., Ltd.                 Thailand
    Sunward International, Inc.                        Thai Yamaha Motor Co., Ltd. (TYM)
    Hamakita Industry Co., Ltd.                        Yamaha Motor Parts Manufacturing (Thailand)           AFRICA (Abbreviation)
    Yamaha Motor Precision Parts Manufacturing Co.,    Co., Ltd. (YMPT)                                      Nigeria
    Ltd.                                               Yamaha Motor Electronics Thailand Co., Ltd.           CFAO Yamaha Motor Nigeria Ltd. (CYMNG)
    Yamaha Motor Hydraulic System Co., Ltd.            (YETH)
    Yamaha Motor Assist Co., Ltd.                      Yamaha Motor Asian Center Co., Ltd. (YMAC)
    Yamaha Motor Support & Service Co., Ltd.           Malaysia                                              NORTH AMERICA (Abbreviations)
    Yamaha Motor Management Service Co., Ltd.          HL Yamaha Motor Research Centre Sdn. Bhd. (HLYR)      United States
    Yamaha Motor Solutions Co., Ltd.                   Hong Leong Yamaha Motor Sdn. Bhd. (HLYM)              Yamaha Motor Corporation, U.S.A. (YMUS)
    Yamaha Motor MIRAI Co., LTD.                       Vietnam                                               Yamaha Motor Manufacturing Corporation of
    Sakura Kogyo Co., Ltd.                             Yamaha Motor Vietnam Co., Ltd. (YMVN)                 America (YMMC)
    A.I.S Corporation                                  Yamaha Motor Parts Manufacturing Vietnam              Skeeter Products, Inc.
    KYB Motorcycle Suspension Co., Ltd.                Co., Ltd. (YPMV)                                      Yamaha Marine Precision Propellers Inc. (YPPI)
    Yamaha Travel Service Co., Ltd.                    Yamaha Motor Electronics Vietnam Co., Ltd. (YEVN)     Yamaha Jet Boat Manufacturing U.S.A., Inc. (YJBM)
    JUBILO Co., Ltd.                                   India                                                 Yamaha Golf-Car Company (YGC)
    Mikasa Unyu Co., Ltd.                              Yamaha Motor India Pvt. Ltd. (YMI)                    Yamaha Motor Golf-Car Lease Receivable
    Ecoole Toyohashi Co., Ltd                          India Yamaha Motor Pvt. Ltd. (IYM)                    Corporation (YGCR)
    Amagasaki kenkonomori                              Yamaha Motor India Sales Pvt. Ltd. (YMIS)             Yamaha Motor Finance Corporation, U.S.A.
    Izumisano Water Front Co., Ltd.                    Yamaha Motor Research and Development India           (YMFUS)
    Marine Wave Otaru Inc.                             Pvt. Ltd. (YMRI)                                      Yamaha Motor Distribution Latin America, Inc. (YDLA)
    Choshi Marina Co., Ltd.                            Yamaha Motor Solutions India Pvt. Ltd. (YMSLI)        Yamaha Motor Ventures & Laboratory Silicon
    Marina Akita Co., Ltd.                             Yamaha Motor Electronics India Pvt. Ltd. (YEIN)       Valley Inc. (YMVSV)
    Hayama Marina Co., Ltd.                            KYB Motorcycle Suspension India Pvt. Ltd. (KMSI)      Yamaha Marine Systems Company Inc.
    Yokohama Bay Side Marina Co., Ltd.                 Bussan Auto Finance India Pvt. Ltd. (BAF India)       Benett Marine, Inc.
                                                       Pakistan                                              Industrial Power Products of America, Inc.
                                                       Yamaha Motor Pakistan (Private) Limited (YMPK)        Canada
    ASIA (Abbreviations)                               Singapore                                             Yamaha Motor Canada Limited (YMCA)
    China                                              Yamaha Motor Asia Pte. Ltd. (YMAP)                    Yamaha Motor Finance Canada Ltd. (YMFCA)
    Yamaha Motor (China) Co., Ltd. (YMCN)              Yamaha Motor Distribution Singapore Pte. Ltd. (YDS)
    Shanghai Yamaha Jianshe Motor Marketing
    Co., Ltd. (YMSM)
                                                                                                             CENTRAL and
    Zhuzhou Yamaha Motor Shock-absorber Co., Ltd.      OCEANIA (Abbreviations)                               SOUTH AMERICA (Abbreviations)
    (ZYS)                                              Australia                                             Brazil
    Yamaha Motor R&D Shanghai Co., Ltd. (YMRS)         Yamaha Motor Australia Pty Limited (YMA)              Yamaha Motor do Brasil Ltda. (YMDB)
    Yamaha Motor Powered Products (Jiangsu) Co.,       Ficeda Pty Limited                                    Yamaha Motor da Amazonia Ltda. (YMDA)
    Ltd. (YMPJ)                                        Yamaha Motor Finance Australia Pty Limited            Yamaha Motor Componentes da Amazonia Ltda.
    Yamaha Motor Electronics Suzhou Co., Ltd.          (YMFA)                                                (YMCDA)
    (YESZ)                                             Australian Motorcycle and Marine Finance Pty          Yamaha Administradora de Consorcio Ltda. (YAC)
    Yamaha Motor Solutions Co., Ltd. Xiamen            Ltd.                                                  Banco Yamaha Motor do Brasil S.A. (BYMD)
    (YMSLX)                                            Yamaha Motor Insurance Australia Pty. Ltd.            Yamaha Motor do Brasil Corretora de Seguros
    Chongqing Jianshe Yamaha Motor Co., Ltd.           New Zealand                                           Ltda. (YMDCS)
    (CJYM)                                             Yamaha Motor New Zealand Limited (YMNZ)               Yamaha Motor do Brasil Logistica Ltda. (YMBL)
    Zhuzhou Jianshe Yamaha Motor Co., Ltd. (ZJYM)      Yamaha Motor Finance New Zealand Limited              Yamaha Motor Electronics do Brasil Ltda. (YEBR)
    Jiangsu Linhai Yamaha Motor Co., Ltd. (LYM)        (YMFNZ)                                               Argentina
    Sichuan Huachuan Yamaha Motor Parts                Yamaha Motor Insurance New Zealand Limited            Yamaha Motor Argentina S.A. (YMARG)
    Manufacturing Co., Ltd. (SHY)                                                                            Peru
    Chongqing Pingshan TK Carburetor Co., Ltd.                                                               Yamaha Motor del Peru S.A. (YMDP)
    (PTK)                                              EUROPE (Abbreviations)                                Yamaha Motor Selva del Peru S.A. (YMSP)
    Yamaha Motor IM (Suzhou) Co., Ltd. (YIMS)          The Netherlands                                       Colombia
    Taiwan                                             Yamaha Motor Europe N.V. (YMENV)                      Industria Colombiana de Motocicletas Yamaha
    Yamaha Motor Taiwan Co., Ltd. (YMT)                Germany                                               S.A. (Incolmotos Yamaha)
    Topmost Consulting Co., Ltd. (TCC)                 Yamaha Motor Deutschland GmbH. (YMG)                  Mexico
    Yamaha Motor R&D Taiwan Co., Ltd. (YMRT)           Italy                                                 Yamaha Motor de Mexico, S.A. de C.V. (YMMEX)
    Yamaha Motor Taiwan Trading Co., Ltd. (YMTT)       Motori Minarelli S.p.A.                               Yamaha Motor Personnel Service Mexico S.A. de
    Yamaha Motor Electronics Taiwan Co., Ltd. (YETW)   Yamaha Motor Research & Development Europe            C.V. (YMPSMX)
    Indonesia                                          S.r.l. (YMRE)                                         Uruguay
    PT. Yamaha Indonesia Motor Manufacturing           Yamaha Motor Racing S.r.l. (YMR)                      Yamaha Motor Uruguay S.A. (YMUY)
    (YIMM)
    PT. Yamaha Motor Nuansa Indonesia (YMNI)

6
History

1955                                            1971                                           Industries Group.
Yamaha Motor Co., Ltd. is founded with          Haraban Motor Co. is founded in Indonesia.     YMA is founded in Australia.
Genichi Kawakami as the first President.                                                       Technical assistance agreement for motor-
Production of our first motorcycle, the         1972                                           cycle production is signed with Escorts Ltd.
                                                Headquarters is moved to present location      in India.
125cc Yamaha "YA-1," commences.
                                                in Iwata City.
YA-1 wins the 3rd Mount Fuji Ascent Race
                                                First win in Motocross World GP at Swedish     1984
and captures first, second and third place at                                                  Contract is signed to develop, produce and
                                                GP (250cc class) and Luxembourg GP
the 1st All Japan Autobike Endurance Road                                                      supply automobile engines to Ford Motor
                                                (500cc class).
Race.                                                                                          Co. (U.S.).
1958                                            1973                                           Technical assistance contract is signed with
                                                YMCA is founded in Canada.                     Italy's Motori Minarelli.
Takes 6th place in first attempt at Catalina
                                                Joint venture agreement is signed with
Grand Prix in the U.S. (Yamaha's interna-
                                                Brunswick Co. (U.S.).                          1986
tional racing debut).                                                                          YMMC is founded in the U.S.
                                                Wins first manufacturer and rider titles in
Yamaha de Mexico S.A. de C.V. is estab-                                                        YMT is founded in Taiwan.
                                                250cc class of the Motocross World GP.
lished with investment by Nippon Gakki                                                         Technical assistance contract for motorcycle
                                                First Yamaha por table generator model
(presently Yamaha Corporation) and com-                                                        technology is signed with Italy's Belgarda
                                                "ET1250" is released.
mences sales of Yamaha Motor products.                                                         S.p.A.
                                                First Yamaha racing kart model "RC100" is
1960                                            released.                                      First Yamaha personal watercraft (PWC)
Yamaha International Corporation (YIC) is                                                      "WaveRunner 500" is released.
founded in U.S. as subsidiary of Nippon         1974
                                                Hisao Koike is appointed as second YMC         1987
Gakki and commences sales of Yamaha Motor                                                      First Yamaha-made surface mounter "21
                                                president.
products.                                                                                      Series" is released.
                                                Wins manufacturer titles in all classes of
First Yamaha outboard motor "P-7" is re-                                                       First Yamaha gas heat pump (GHP) model
                                                World GP road race, 125cc, 250cc, 350cc
leased.                                                                                        "YGC401W" is released.
                                                and 500cc.
First Yamaha FRP boat models "CAT-21" and                                                      Limited production of Yamaha's first com-
                                                YIMM is founded in Indonesia as motorcycle
"RUN-13" are released.                                                                         mercial-use unmanned helicopter "R-50" (20
                                                parts maker.
1961                                            Manufacture and sales of FRP pools com-        units) is released.
New listing on First Section of Tokyo Stock     mences.
                                                                                               1989
Exchange.                                                                                      Machine mounting the Yamaha "OX88" rac-
First appearance in World GP road race.         1975
                                                First Yamaha golf car model "YG292" is re-     ing engine competes in F1 for the first time.
CAT-21 wins 1st Pacific 1,000 km Motorboat
                                                leased.
Marathon.                                                                                      1990
                                                1976                                           Corporate Mission and long-term manage-
1963                                            First Yamaha industrial robot model, an "arc   ment vision are announced.
Pearl Yamaha is founded in India.                                                              YMP is founded in Portugal.
                                                welding robot," is released.
Wins first 250cc class race in World GP
                                                First Yamaha marine diesel "MD35" is re-
road race (Belgium GP).                                                                        1991
                                                leased.                                        YMF is founded in France.
1964                                                                                           YMMEX is founded in Mexico.
Captures first manufacturer and rider titles    1977
                                                YMC-related divisions of Yamaha Interna-
in 250cc class of the World GP road race.                                                      1992
                                                tional Corporation are separated to found      CJYM is founded in China.
Siam Yamaha Co., Ltd. is founded in Thai-
                                                Yamaha Motor Corporation, U.S.A.               YMAG is founded in Austria.
land.
                                                Captures manufacturer and rider titles for     YMH is founded in Hungary.
1965                                            the first time in 500cc class of the Moto-
Tie-up with Toyota Motor Co. to develop         cross World GP.                                1993
and manufacture "Toyota 2000GT."                                                               NYM is founded in China.
Model is displayed at the Tokyo Motor           1978                                           Regionally limited release of the electrically
                                                First Yamaha land car model "G1-9AD" is        power assisted bicycle "PAS."
Show.
                                                released.
First Yamaha FRP fishing boat is built.
                                                First Yamaha snow thrower model "YT665"        1994
1966                                            is released.                                   Takehiko Hasegawa is appointed as fourth
Full export operations are transferred from                                                    YMC president.
Nippon Gakki to Yamaha Motor.                   1979                                           LYM is founded in China.
                                                Yamaha's first ATV model "YT125" is re-
Technical assistance agreement is signed
with Kong Hsue Sheh to produce motorcycles
                                                leased in the U.S.                             1995
                                                "XT500" wins 1st Paris-Dakar Rally.            Wheelchair electric power unit "JW-I" is re-
in Taiwan.
                                                                                               leased.
1968                                            1981                                           EYML is established in India.
                                                SEMSA is founded in Spain.
YMENV is founded in the Netherlands.
First Yamaha snowmobile "SL350" is exhibit-
                                                                                               1996
                                                1982                                           YMARG is founded in Argentina.
ed at Chicago Trade Show.                       Motorcycle production and marketing tie-up
First Yamaha FRP utility boat models "W-16"     with Motobecane (France).                      1997
and "W-18" are released.                                                                       YMNI is founded in Indonesia.
                                                1983
1969                                            Hideto Eguchi is appointed as third YMC        1998
First Yamaha multipurpose engine model          president.                                     YMVN is founded in Vietnam.
"MT100" is released.                            YMDA is founded in Brazil.                     YMAP is founded in Singapore.
                                                Technical assistance agreement for motor-      YMDP is founded in Peru.
1970                                            cycle production is signed with China North
YMDB is founded in Brazil.

                                                                                                                                                7
History (Continued)

      2000                                                 2009                                                    2014
       Corporate ties with Toyota Motor Corp. are          Tsuneji Togami is appointed as seventh YMC              Fir s t leaning mul ti-wheel motor c ycle
       strengthened.                                       president.                                              “TRICITY” is released.
                                                           Yamaha Marine Co., Ltd. is merged into YMC.             Aggregate production of automobile engines
      2001                                                 YMTR is founded in Turkey.                              reaches 3 million units.
       Toru Hasegawa is appointed as fifth YMC
                                                                                                                   New motorcycle manufacturing plant in
       president.                                          2010                                                    Argentina is completed and commences
                                                           Hiroyuki Yanagi is appointed as eighth YMC
      2002                                                                                                         operations.
                                                           president.
       Limited regional release of the electric com-                                                               Next-generation compact, high-performance
       muter motorcycle "Passol."                          2011                                                    engine “BLUE CORE” is developed.
       Manufacture of 50cc Japanese-market scooters        YIME and YIMA Group companies are
       is shifted to Taiwan.                               founded in Europe and the U.S. for Intelli-
                                                                                                                   2015
                                                                                                                   Yamaha Jubilo Rugby Football Club wins
                                                           gent Machinery product sales.
      2004                                                                                                         the All-Japan Rugby Football Championship
                                                           Commences increased production of Japanese
       Wins 1st MotoGP rider championship title.                                                                   for the first time.
                                                           fishing boats to aid in recovery efforts from
                                                                                                                   Motorcycle manufacturing and sales company
      2005                                                 the Great East Japan Earthquake and Tsunami.
                                                                                                                   YMPK commences operations in Pakistan.
       Takashi Kajikawa is appointed as sixth YMC          Iwata South Factory engine assembly line is
                                                                                                                   Motorcycle development company YMRID
       president.                                          integrated into Iwata Main Factory.
                                                                                                                   commences operations in Indonesia.
       YMCIS is founded in Russia.                                                                                 New company for new business development
       Life Science Laboratory is opened as research
                                                           2012
                                                           Design Center is established.                           YMVSV is founded in Silicon Valley, USA.
       and development center for YMC’s biotech-                                                                   New company Yamaha Motor MIR AI is
                                                           ASEAN Integrated Development Center
       nology business.                                                                                            founded to promote hiring of persons with
                                                           (Thailand) and India Procurement Center
       Yamaha captures MotoGP triple crown by                                                                      disabilities.
                                                           are established.
       winning the rider, team and manufacturer titles.
                                                           Commences OEM supply of electrically
                                                           power assisted bicycle drive units to Euro-
                                                                                                                   2016
      2006                                                                                                         Aggregate production of Yamaha Performance
       Motorcycle manufacturing factory YMMWJ              pean market.
                                                                                                                   Damper reaches one million units.
       is founded in Indonesia.                            Company founder Genichi Kawakami is in-
       Mass-production of microalgae as a source           ducted into Japan Automotive Hall of Fame.              2017
       for the high-potential health additive Astax-                                                               Yamaha Motor Innovation Center is opened.
       anthin commences.
                                                           2013                                                    New Hamamatsu IM Base is opened.
                                                           The "Revs your Hear t" brand slogan is
       Yamaha Motor Foundation for Spor ts is                                                                      Achieves 500th win in world championship
                                                           established.
       founded.                                                                                                    road race.
                                                           Cumulative Yamaha outboard motor pro-
                                                                                                                   CELL HANDLER is released to provide
      2007                                                 duction passes 10 million mark.
                                                                                                                   solutions in the medical field.
       YMPH is founded in the Philippines.                 YMRI is founded in India.
                                                           YIMS is founded in China.                               2018
      2008                                                 Kikugawa Test Course is completed.                      Yoshihiro Hidaka is appointed as ninth YMC
       YMKH is founded in Cambodia.                                                                                president.
       IYM is founded in India.

      Number of Employees

                              Fiscal year                              2013              2014              2015                2016              2017
                       Yamaha Motor Co., Ltd.                          10,245           10,377           10,440           10,511           10,564
                           (average age)                          (42.0 years old) (42.3 years old) (42.8 years old) (43.0 years old) (43.2 years old)
                      Consolidated companies                          43,137            42,285             42,866             42,639            43,015
                                  Total                               53,382            52,662             53,306              53,150           53,579

      Number of Recruited Graduates (Yamaha Motor Co., Ltd.)

                              Fiscal year                              2015              2016              2017                2018           2019 (Plan)

                         College graduates*                            193                212               207                 206               200
                       (For office work, marketing)                    (55)               (50)              (60)                (63)              (65)
              (For engineering, production-related work)               (138)             (162)             (147)               (143)             (135)

                        High school graduates                           56                58                57                   57               60
                                  Total                                249                270               264                 263               260

    * Includes graduate schools, two-year/technical colleges and specialized schools

8
FACT BOOK 2018

Product Business Section
Motorcycles

              MT-10SP                                   MT-09ABS                                    YZF-R1M                                        YZF-R25

                                      BOLT                                     XSR700                                     YZ250FX

     Product Profile
     Motorcycles play a familiar and vital role in the lives of people around           got off to a successful start, winning in its debut entries at Japan’s top
     the world, their applications spanning from pure utility, such as the              two motorcycle races at the time, while also receiving high acclaim
     transpor tation of goods, to personal enjoyment and spor ts. The                   for its product quality. To scale up production and market the YA-1,
     Yamaha Motor group satisfies these needs with its diverse product                  Yamaha Motor Co., Ltd. was established. Some years later, in 1961,
     lineup. Yamaha motorcycles are made to a variety of specifications,                Yamaha entered its first World GP race. Since then and to this day,
     each type featuring unique technologies serving its particular use:                Yamaha has continued to challenge itself on the racing scene, making
     scooters, used primarily for day-to-day mobility, such as commuting                the art of engineering based on technologies and know-how a hall-
     and shopping trips; sports and cruiser models, used widely in urban                mark of the Yamaha brand.
     areas and for long-distance touring; trail models for off-road excur-
     sions; and racing machines for road racing, motocross and other                    Current Business and Market Conditions
     competitions.                                                                      Japan
                                                                                        For the market as a whole, scooters with an engine displacement of
     Background of the Business                                                         50cc and under (class I), which are used primarily for commuting and
     During World War II, Nippon Gakki Co., Ltd. (founded in 1897, pres-                work-related activities, occupy almost half of all unit sales. Motorcy-
     ently Yamaha Corporation), the company from which Yamaha Motor                     cles with an engine capacity of 51cc or larger fall into a number of
     was later spun off, was assigned to apply its technologies in musical              categories, from scooters to large motorcycles and sports models for
     instrument manufacturing to the production of propellers for mili-                 personal enjoyment. The Japanese market is also unique in that it has
     tary aircraft. After the War ended, the company sought ways to use                 a driver’s license restricted to operation of AT (automatic transmis-
     its manufacturing facilities for peaceful ends. Eventually, it entered             sion) motorcycles. In recent years, large motorcycles for riders inter-
     the motorcycle business as the motorcycle manufacturing division                   ested in touring and sport riding as well as highly practical 125cc
     of Nippon Gakki. The company’s first motorcycle model, the YA-1,                   scooters have been popular.

     Japan Motorcycle License Types and Regulations
                                                                  Over 50cc to              Over 125cc to             Over 250cc to
              Displacement               50cc and under                                                                                            Over 400cc
                                                                 125cc and under           250cc and under           400cc and under
       Road Traffic Act designation          Moped                                        Regular motorcycle                                   Large motorcycle
       Road Transport Vehicle Act                                                         Light two-wheeled
                                         Class I moped             Class II moped                                         Compact two-wheeled vehicle
              designation                                                                        vehicle
                                                                 Limited compact
                                                                      license                                                                  Large motorcycle
            License required             Moped license                                             Regular motorcycle license
                                                                                                                                                    license

       Speed limit on normal roads           30 km/h                                                        60 km/h

          Legal number of riders                1                                            2 (excluding vehicles with no rear seat)

             Highway usage                               Prohibited                                                      Allowed

           Two-step right turn               Required                                                      Prohibited

           Curbside lane usage               Required                                                     Not required

            Vehicle inspection                                        Not required                                                      Required

10
TMAX                                  TRICITY125                                      E-VINO                                       NMAX

                               Fascino                                    QBIX                                        GDR155

Europe                                                                           India
As one would expect from the birthplace of motorcycles, motor­                   India has become the world’s largest motorcycle market, with total
cycles have a well-established place in European society as part of              demand for new models reaching about 19 million units in 2017. The
the culture. The market is characterized by widespread use of motor­             scooter category in particular, is showing remarkable growth, and
cycles among riders of all ages as a commuter vehicle and as means               now accounts for roughly 30% of total demand. With the country’s
for recreation, from touring through the countryside to circuit racing           development having entered a period of increased motorization,
and other sports. Motorsports are also popular there. Over half of               Yamaha has introduced new scooters every year since 2012, and
the MotoGP racing series, the world’s premier motorcycle racing                  these models have been well received, particularly by young customers.
championship, is held in Europe.                                                 Yamaha is also working to increase sales by expanding its lineup of
                                                                                 lower priced, more affordable models.
North America
The North American market is characterized by its predominance of                Production
motorcycle enthusiasts. Cruisers, with their low-riding seats and long
                                                                                            Country                    Name of company (Factory)
bodies—perfectly suited for riding on long stretches of straight,
open road—are a representative category, but there is also a large                           Japan             Yamaha Motor Co., Ltd. (Iwata Main Factory)
segment of users who enjoy riding off-road or on mountainous ter-                  Europe            France    MBK Industrie
rain for sport or recreation. The popularity and extensive variety of
                                                                                                 Indonesia     PT. Yamaha Indonesia Motor Manufacturing
motorsports practices by professionals and amateurs alike are other
unique qualities of the North American market.                                                   Thailand      Thai Yamaha Motor Co., Ltd.
                                                                                                 Vietnam       Yamaha Motor Vietnam Co., Ltd.
ASEAN Region
In the ASEAN region, motorcycles are a primary mode of transpor-                                Philippines    Yamaha Motor Philippines, Inc.
tation for commuting to work and school and for daily living in many                             Malaysia      Hong Leong Yamaha Motor Sdn. Bhd.
communities. They also serve an important role as social infrastruc-
ture, assisting the flow of goods and services. Practical, smaller dis-              Asia            Taiwan    Yamaha Motor Taiwan Co., Ltd.
placement motorcycles around 125cc are traditionally the main-                                                 Chongqing Jianshe Yamaha Motor Co., Ltd.
stream choice. However, since the turn of the century there has
                                                                                                     China     Zhuzhou Jianshe Yamaha Motor Co., Ltd.
been a growing segment of users resembling those in developed
markets who favor more personalized and luxurious features.                                                    Jiangsu Linhai Yamaha Motor Co., Ltd.
Yamaha was quick to introduce automatic transmission motorcycles                                      India    India Yamaha Motor Pvt. Ltd.
to this market, and is now recognized as a leading company.
                                                                                                 Pakistan      Yamaha Motor Pakistan Private Ltd.
China                                                                                                Brazil    Yamaha Motor da Amazonia Ltda.
With domestic demand for new motorcycles around 8 million units
                                                                                   Central           Mexico    Yamaha Motor de Mexico, S.A. de C.V.
annually, China is the world’s second largest motorcycle market and
                                                                                  and South                    Industria Colombiana de Motocicletas
home to numerous motorcycle makers. Demand for scooters, which                                  Colombia
                                                                                   America                     Yamaha S.A.
previously accounted for roughly 10% of total demand, grew to
almost 40% of demand during 2016, and is expected to continue to                                Argentina      Yamaha Motor Argentina S.A.
increase going forward.
                                                                                    Africa           Nigeria   CFAO Yamaha Motor Nigeria Ltd.
     In addition, with growing awareness of environmental issues,
the number of users selecting fuel injection-equipped models is
increasing, and Yamaha is pursuing a product strategy that focuses on
attracting these customers.

                                                                                                                                                             11
Motorcycles (Continued)

          FY2017 worldwide demand                                      FY2017 worldwide demand and                           FY2017 Yamaha Motor unit sales
          Note: Yamaha Motor surveys                                   Yamaha Motor unit sales
                                                                       Note: Yamaha Motor surveys
                                                                                                                                                              Japan 103 (1.9%)
                                     Japan 384 (0.7%)                                                                      Rest-of-world                       North America
     Rest-of-world                       North America 535 (1.0%)                                                          461 (8.5%)                          70 (1.3%)
     7,315 (13.5%)
                                             Europe 1,501 (2.8%)                                                                                                          Europe 199
                                                                                           Yamaha
                                                                                            5,390                                                                         (3.7%)
                                                                                           (10.0%)

                        Worldwide                                                   Worldwide                                                    Unit sales
                         demand             Asia*                                    demand
                          53,995                                                      53,995                                                      5,390
                                           44,260
                                                                                                                                             Unit: thousands
                        Unit: thousands   (82.0%)                                   Unit: thousands                                           (%): share of
                         (%): share of                                               (%): share of                                             unit sales
                           demand                                                      demand

                                                                                  Other companies                                               Asia*
                                                                                   48,604 (90.0%)                                           4,558 (84.6%)

                              * Asia excludes Japan                                                                                               * Asia excludes Japan

     Yamaha Motor unit sales                                                                  Yamaha Motor sales
     Unit: thousands                                                                          Unit: billion ¥

     7,000                                                                                    1,100
                                                                                                                 1,032.6             1,045.2
                                                                                              1,000      977.6                        136.3
     6,000     5,799                                                                                             149.1     930.1
                                                                                                900      150.0
                587                                      5,390                                                             119.8
                            5,218         5,154
                                                          461                                   800
     5,000                   524           452
                                                                                                700
     4,000
                                                                                                600                                   671.7
                                                                                                                 628.7
                                                                                                         612.2             579.6
                                                                                                500
     3,000     4,819
                            4,286         4,307          4,558
                                                                                                400
                                                                                                                                                                Rest-of-world
                                                                         Rest-of-world
     2,000                                                                                      300
                                                                         Asia                                                                                   Asia

                                                                         Europe                 200              136.2                                          Europe
     1,000                                                                                               116.0             127.9      138.5
                                                                         North America          100                                                             North America
                                                                                                          53.4    72.3     55.9        52.7
                191     79            89               77         70
                       123 209       110 208          110 199    103     Japan                            46.0    46.3     47.0        46.0                     Japan
         0                                                                                        0
                ’14          ’15            ’16           ’17                                              ’14     ’15      ’16            ’17

12
Boats

            SR-X 24 multipurpose boat                                  EXULT36 large boat                                               DW-480-0A fishing boat

Product Profile                                                                          Current Business and Market Conditions
Boats are used for two major purposes: commercial use and leisure.                       In Japan, Yamaha Motor is a full-spectrum marine manufacturer, of-
Commercial boats can be categorized roughly into Japanese-style                          fering a full lineup of products in all categories, from fishing and utility
utility boats and fishing boats, both of which are an indispensable                      boats—with hulls designed to fit each region’s fishing methods—to
part of the everyday lives of fishermen. Recreational boats include                      large recreational cruisers and fishing boats.
powerboats, used for activities from spor t fishing to cruising and water-
skiing, and sailboats.                                                                   Production
                                                                                                                              Name of company                 Location
Background of the Business
In the latter part of the 1950s, Yamaha started joint research and de-                    Fishing boats,         Yamaha Marine Hokkaido                       Yakumo,
velopment of FRP (Fiber Reinforced Plastics)—a promising new ma-                          utility boats          Manufacturing Co., Ltd.*1                 Hokkaido, Japan
terial at the time—with Nippon Gakki Co., Ltd. (presently Yamaha                          Small boats,           Yamaha Amakusa Manufacturing               Kamiamakusa,
Corporation), and in 1960 began producing and marketing FRP                               utility boats          Co., Ltd.*1                               Kumamoto, Japan
boats. In 1965, the Company also started production of sailboats and
fishing boats.                                                                            Medium-size
                                                                                                                 YM Shido Co., Ltd.*2
                                                                                                                                                               Sanuki,
      Yamaha Motor has continuously developed and designed its                            and large boats                                                   Kagawa, Japan
products using performance simulation and 3D CAD systems, and                            *1 Group company *2 Contract manufacturer
introduced new manufacturing technologies to reduce the environ-
mental impacts of production.

                                                            FY2017 domestic demand for pleasure-use boats
                                                            Note: Yamaha Motor surveys

                                                                                                 Yamaha
                                                                                                   719
                                                                                                 (38.8%)
                                                                                    Total
                                                                                  demand
                                                                     Other
                                                                   companies     1,852 units
                                                                      1,133
                                                                     (61.2%)

                               Yamaha Motor unit sales                                                            Yamaha Motor sales
                   Units                                                                                    Unit: billion ¥
                    1,500                                                                                   15

                                1,075                    1,043
                                          984                                                                                              10.2     10.0
                    1,000                          957                                                      10
                                                                                                                     9.0          9.0
                                          298            324
                                 493               293

                      500                                                                                    5
                                          686      664   719
                                 582                                     Fishing boats and
                                                                         utility boats
                           0                                             Pleasure-use boats                  0
                                 ’14      ’15      ’16    ’17                                                        ’14          ’15       ’16      ’17

                                                                                                                                                                             13
Marine Engines

            F350A                F150D                 F125A                  F90C                         F25G                    F8F         F2B         M-15

     Product Profile
     Marine engines used to propel boats can be categorized into three               and also offer exceptional environmental performance, as well as
     types: outboard motors, stern drives (inboard-outboard motors),                 electric models used for freshwater and inshore fishing and other
     and inboard motors. Outboard motors, which are suited for small to              activities. Yamaha Motor also offers a complete lineup of inboard and
     medium-size boats, are mainly known for their excellent affordability,          stern drive motors for everything from commercial applications to
     environmental friendliness, ease of maintenance and high space effi-            recreational boating.
     ciency and are used by a variety of people all over the world. In de-                 Also, among our products installed on boats to complement
     veloped regions like Europe and North America, they are primarily               outboard motors is an information management system that relays
     used for leisure, while in emerging countries they are predominantly            engine and navigational statuses to the driver, and a boat control sys-
     used for fishing and transport/transportation.                                  tem that assists in maneuvering medium-size to large boats at low
                                                                                     speeds through narrow areas.
     Background of the Business
     Applying its small engine technology developed for motorcycles,                 Environmental Compliance
     Yamaha Motor released its first marine engine, the small outboard               Yamaha Motor offers a full line of products that comply with volun-
     engine P-7, in 1960. In the more than half-century that followed, the           tary restrictions set by the Japan Marine Industry Association, as well
     Company has expanded its marine engine lineup to suit manifold                  as standards set by 2010 EPA (United States Environmental Protec-
     uses and conditions in the various locations they are used, focusing            tion Agency) regulations on exhaust emissions and 2008 CARB
     especially on outboard motors, including models with increasingly               (California Air Resources Board) regulations.
     large horsepower and models that have better fuel efficiency and are
     designed to withstand more extreme environments. Cumulative                     Production
     production of Yamaha outboard motors reached 10 million units in                                              Name of company (Factory)     Location
     April 2013.
                                                                                      Medium-size and large                                    Fukuroi,
                                                                                      4-stroke outboard motors     Yamaha Motor Co., Ltd.      Shizuoka,
     Current Business and Market Conditions                                           and large 2-stroke           (Fukuroi South Factory)
                                                                                      outboard motors                                          Japan
     More than 90% of Yamaha outboard motors are exported to mar-
     kets worldwide, where they are currently being sold in about 180                 Small 4-stroke outboard
                                                                                      motors and small and         Yamaha Kumamoto Products Yatsushiro,
                                                                                                                                            Kumamoto,
     countries and territories. Their applications cover everything from              medium-size 2-stroke         Co., Ltd.*               Japan
     fishing to leisure, and include the more simply constructed 2-stroke             outboard motors
     models suitable for operating environments in emerging countries,                Small 4-stroke outboard      Thai Yamaha Motor
                                                                                                                                               Thailand
                                                                                      motors                       Co., Ltd.*
     4-stroke models which are in high demand in developed countries
                                                                                     * Group company

14
Outboard Motor Cooling Structure and Features                                                    Helm Master Boat Control System
An outboard motor brings in water from the outside and uses
it to cool the engine. This is the main difference between out-
boards and land vehicles with liquid-cooled engines like motor-
cycles.

                                                            Engine

                                                   Drive shaft
                                                                                                                       SR320FB cruiser featuring Helm Master

              Water pump                                                                         The Helm Master digitally controls all the steering, gear shifting and
                                                                                                 throttle work of twin or triple mount large-class Yamaha outboards.
                                                                                                 Complementing the standard steering and remote control unit, the
        Cooling water inlet                                                                      single joystick control enables fore-aft, port-starboard and diagonal
                                                                                                 motion as well as in-place rotation of the bow.
                                                     Exhaust and
                                                     cooling water

        FY2017 worldwide demand for outboard                               FY2017 worldwide demand and                                   FY2017 Yamaha Motor unit sales of
        motors                                                             Yamaha Motor unit sales of outboard motors                    outboard motors
        Note: Yamaha Motor surveys                                         Note: Yamaha Motor surveys

              Rest-of-                                                                                                                                                    North
              world                       North                                                                                                                           America
              265      Worldwide         America                                           Worldwide         Yamaha                                                          109
            (32.3%)     demand             298                                              demand             301                          Rest-of-      Unit sales       (36.4%)
                          820            (36.3%)                                              820            (36.6%)                         world          301
                       Unit: thousands                                                     Unit: thousands
                                                                                                                                              138       Unit: thousands
                        (%): share of                                                       (%): share of                                   (46.0%)      (%): share of
                                                                                                                                                          unit sales
                          demand                                                              demand

                       Europe                                                                                                                                   Europe
                         258                                                                                                                                      53
                       (31.4%)                               Other companies                                                                                    (17.6%)
                                                                   520
                                                                 (63.4%)

                           Yamaha Motor unit sales of outboard motors                                                          Yamaha Motor sales from marine engines
                     Unit: thousands                                                                                   Unit: billion ¥
                     400                                                                                                200
                                                                                                                                           174.6                  175.3
                              329                                                                                               160.9                  167.0
                                         300          292        301
                     300                                                                                                150

                     200                                                                                                100

                     100                                                                                                 50

                       0                                                                                                   0
                              ’14         ’15         ’16            ’17                                                           ’14      ’15         ’16         ’17

                                                                                                                                                                                     15
Personal Watercraft

                                 WaveRunner-GP1800 personal watercraft                      242X E-Series sport boat

     Product Profile                                                          Current Business and Market Conditions
     Personal watercraft (or PWC) come in two varieties: one that re-         Yamaha PWC feature a highly stable and streamlined hull built on
     quires the rider to stand (one-person capacity), and another that is     technologies Yamaha Motor developed for boats, and a compact,
     ridden from a seated position (up to three people). PWC mount a          lightweight, yet powerful engine utilizing the Company’s motorcycle
     small engine, but rather than using a propeller for propulsion they      and marine engine technologies. Most Yamaha PWC employ
     draw in water from the intake section at the bottom of the hull and      4-stroke engines. These models meet environmental regulations in
     shoot it out from the back with a jet-propulsion mechanism. The          the U.S. and Japan, the largest markets, which include U.S. EPA (Envi-
     Yamaha 242 Limited S is a sport boat that uses the same kind of pro-     ronmental Protection Agency) regulations and Japan Marine Industry
     pulsion system.                                                          Association voluntary regulations.

     Background of the Business                                               Production
     In 1986, Yamaha Motor launched its first product, the WaveRunner                             Name of company (Factory)                          Location
     500. The product’s marketing concept, “A water vessel anyone can
                                                                                                Yamaha Motor Co., Ltd.                                 Iwata,
     ride, with assurance and convenience,” was welcomed by markets            Engines
                                                                                                (Iwata South Factory)                             Shizuoka, Japan
     and effectively expanded the enjoyment of marine recreation be-
                                                                                                Yamaha Motor Manufacturing
     yond existing mainstream activities like cruising and fishing. PWC at-                                                                       Georgia, U.S.A.
                                                                                                Corporation of America*
     tract many users, mainly in North America.                                Assembly
                                                                                                Yamaha Jet Boat Manufacturing
                                                                                                                                                 Tennessee, U.S.A.
                                                                                                U.S.A., Inc.*
                                                                              * Group company

                              FY2017 worldwide demand for PWC                                         FY2017 Yamaha Motor unit sales of PWC
                              Note: Yamaha Motor surveys

                                 Rest-of-
                                  world      Worldwide
                                   30         demand                                                     Rest-of-     Unit sales
                                                                U.S.A.                                    world                         U.S.A.
                                 (30.8%)        97                                                                       43              26
                                                                 67                                        17        Unit: thousands
                                             Unit: thousands   (69.2%)                                   (39.6%)      (%): share of    (60.4%)
                                              (%): share of                                                            unit sales
                                                demand

                               Yamaha Motor unit sales of PWC                                         Yamaha Motor sales from PWC
                         Unit: thousands                                                        Unit: billion ¥
                         50                                                                     80

                                            41           41        43
                                 40                                                                                 64.8        62.3      65.3
                         40
                                                                                                60       55.8

                         30
                                                                                                40
                         20

                                                                                                20
                         10

                          0                                                                       0
                                 ’14        ’15          ’16       ’17                                    ’14       ’15          ’16       ’17

16
Swimming Pools

                                                 School pools                                                  Flat pools (GRANSCINA)

                                             Children’s pools                                                       Leisure pools

Product Profile                                                                                 Current Business and Market Conditions
In Japan, school swimming pools, children’s pools, leisure pools, pools                        As pools at public facilities, kindergartens and nursery schools, and
for health and rehabilitative use, competition pools and pool renova-                          elementary and junior high schools increasingly deteriorate, demand
tion form the major demand for this segment. By material, pools can                            for new construction and renovations is increasing. Pools are also
be categorized into FRP (Fiber Reinforced Plastics) pools, metal                               being used at social welfare facilities and medical institutions for safe
pools and concrete pools.                                                                      walking and exercise to improve the health of the elderly and persons
                                                                                               with disabilities.
[Reference] Advantages of FRP Pools                                                                  Yamaha Motor is proactively expanding its product lineup with pools
FRP is a strong, lightweight material that molds easily. FRP pools are                         for a variety of purposes for different generations and lifestyles, while at
resistant to weathering and earthquakes and retain moisture well.                              the same time introducing new technologies and equipment to make pools
Construction time is also shorter because the units from the factory                           environmentally friendly through re-use and recycling.
are simply assembled on-site.                                                                        We also provide maintenance and other operations for public
                                                                                               pool facilities, and are utilizing the exper tise we have developed
Background of the Business                                                                     through these operations in new products.
Utilizing FRP technologies cultivated in its boat development and                                    As a leading pool company, Yamaha offers total support, from plan-
manufacturing, Yamaha Motor commercially released Japan’s first                                ning and design to manufacturing, installation, and after-sales service.
100% FRP pool in 1974. Yamaha has supplied a large number of pools
across Japan since then.                                                                        Production
      We have achieved top position in aggregate domestic ship-                                         Name of company (Site)                             Location
ments of school pools, and recorded strong sales of pools for pre-
schools in recent years.                                                                            Yamaha Motor Co., Ltd. (Arai Site)            Kosai, Shizuoka, Japan

         FY2017 domestic public school pool*                    FY2017 domestic FRP pool* demand                               Yamaha Motor sales from pools
         demand by material                                     and Yamaha Motor unit shipments
         Note: Yamaha Motor surveys                             Note: Yamaha Motor surveys

                                                                                                                          Unit: billion ¥
                                       Other                       Other companies’ pools                                  6
                                       10 (4.6%)                   12 (9.1%)
                                                                                                                           5      4.8
                                                                                                                                            4.4      4.4         4.3
                                                                                                                           4

                       Domestic                                                      Domestic
            Metal      demand            FRP                                         demand                                3
             75        217 units         132                                         132 units
           (34.6%)     (%): share of   (60.8%)                                      (%): share of                          2
                         demand                                                       demand

                                                                                  Yamaha pools                             1
                                                                                      120
                                                                                    (90.9%)
                                                                                                                           0
                                                                                                                                  ’14       ’15      ’16         ’17

* Longer than 20m

                                                                                                                                                                              17
All-Terrain Vehicles & Recreational Off-highway Vehicles

                              Grizzly EPS                                       YXZ1000R SS                                            Wolverine X4

     Product Profile
     All-Terrain Vehicles (ATVs) and Recreational Off-highway Vehicles                  model with two rows of seating for four people that is mainly sold in
     (ROVs) are off-road-specific vehicles capable of handling all sorts of             North America and other overseas markets.
     unpaved or rough terrain found in grasslands, mountain trails, sandy
     areas, etc. ATVs seat one rider and have a steering system with han-               Current Business and Market Conditions
     dlebars, etc., similar to a motorcycle, while ROVs are designed to fit             The U. S . mar ket accounts for over 50% of wor ldwide AT V
     two or more people and have a steering wheel system, etc., similar                 demand due to its large stretches of natural terrain, unpaved roads,
     to an automobile. Both are used in a wide range of ways, from lei-                 and large ranches and farms all over the country. Yamaha Motor
     sure and sport riding to utility work in the agriculture industry, etc.            meets these diverse needs with its wide range of products that include
                                                                                        utility models, sports models and more.
     Background of the Business                                                                The main market for ROVs is also the U.S. In addition to de-
     Yamaha’s ATVs were developed using technologies created and                        mand as a vehicle for outdoor recreation, there is stable demand for
     matured in the process of developing and manufacturing off-road                    ROVs as vehicles for utility use in a variety of industries, and market
     motorcycles. Sales of Yamaha AT Vs began in the U.S. in 1979                       scale is growing year after year.
     with Yamaha Motor’s first ATV, the YT125. Since then, Yamaha has
     gone on to market a variety of AT V models that answer real                        Production
     market needs. We also have a broad lineup in the ROV segment,                                          Name of company                                    Location
     with multi-purpose models, recreational models, and pure sports
     models. In 2017, we introduced the Wolverine X4, a recreational                      Yamaha Motor Manufacturing Corporation of America*                Georgia, U.S.A.
                                                                                        * Group company

                               FY2017 worldwide demand for ATVs                                                   FY2017 Yamaha Motor unit sales of ATVs
                               Note: Yamaha Motor surveys

                                 Rest-of-    Worldwide                                                              Rest-of-     Unit sales
                                  world       demand            U.S.A.                                               world                         U.S.A.
                                                                 211                                                                58              28
                                   184          394                                                                   30        Unit: thousands
                                                               (53.4%)                                                                            (48.5%)
                                 (46.6%)     Unit: thousands                                                        (51.5%)      (%): share of
                                              (%): share of                                                                       unit sales
                                                demand

                                Yamaha Motor units sales of ATVs & ROVs                                           Yamaha Motor sales from ATVs & ROVs
                        Unit: thousands                                                                   Unit: billion ¥
                                                                                                                               80.1
                        150                                                                                80
                                                                         ROVs
                                                                                                                                           71.2
                                                                         ATVs
                                                                                                                                                     65.5
                                                                                                           60       55.8
                        100

                                            22           20
                                                                   15                                      40
                                  12

                         50
                                                                                                           20
                                  53        55           57        58

                          0                                                                                  0
                                  ’14       ’15          ’16       ’17                                               ’14       ’15          ’16       ’17

18
Snowmobiles

                   Apex X-TX LE                                                VK 540V                                             Snoscoot

Product Profile                                                                          Current Business and Market Conditions
The snowmobile uses two skis at the front for changing directions                        While Nor th America, Russia and the Scandinavian countries of
and track belts at the rear for engine-driven propulsion. It has devel-                  Sweden, Norway and Finland constitute the largest markets, Yamaha
oped into a mode of transportation for people in snowy areas, and                        snowmobiles are sold in over 30 countries worldwide, including
also as a source of motorsports and leisure enjoyment. Applications                      Japan and other countries throughout Europe and Asia. In recent
can be broken down roughly into leisure and utility. Additionally, in                    years, there have been greater calls for better environmental perfor-
Japan, snowmobiles are also used in winter for power line mainte-                        mance from snowmobiles as well. Yamaha Motor has answered this
nance, for spreading snow-melting agents on cultivated areas, for fish                   by continuing to pioneer the development of models with 4-stroke
farming in frozen lakes, etc.                                                            engines.

Background of the Business                                                               Production
Applying the engine technologies it had developed for motorcycles,                                 Name of company (Factory)                                   Location
Yamaha Motor released its first snowmobile model, the SL350, in
1968 and its first model for recreational use in 1970. Since then the                                                                                            Iwata,
                                                                                            Yamaha Motor Co., Ltd. (Iwata Main Factory)
Company has worked to expand its lineup, catering to a variety of                                                                                           Shizuoka, Japan
needs as the only snowmobile manufacturer (of completely built up
units) in Japan.

                   FY2017 worldwide demand for snowmobiles                                                   FY2017 Yamaha Motor unit sales of snowmobiles
                   Note: Yamaha Motor surveys
                      Russia                                   Rest-of-world                                                                     Other
                        5 (4.1%)                                 1 (0.6%)                                                                        0 (1.2%)
                                                                                                                          Russia
                                  Europe                                                                                     1
                                    19                                                                                    (9.8%)               U.S.A.
                                  (15.0%)                                                                                                        3
                                            Worldwide                                                           Europe                        (29.2%)
                                                               U.S.A.                                                        Unit sales
                                             demand                                                                2
                                                                54                                              (20.2%)         11
                                               128
                                            Unit: thousands
                                                              (42.1%)                                                       Unit: thousands
                                                                                                                             (%): share of
                                             (%): share of                                                                    unit sales
                                               demand
                                  Canada
                                    49                                                                                           Canada
                                  (38.2%)                                                                                           4
                                                                                                                                 (39.5%)

                          Yamaha Motor unit sales of snowmobiles                                              Yamaha Motor sales from snowmobiles
                    Unit: thousands                                                                    Unit: billion ¥
                     30                                                                                 25
                                                                                                                22.4
                     25
                                                                                                        20
                            21                                                                                            16.5         16.4
                     20
                                                                                                        15                                         13.8
                     15                 14              13
                                                                  11                                    10
                     10

                                                                                                         5
                      5

                      0                                                                                  0
                            ’14         ’15             ’16       ’17                                            ’14       ’15          ’16         ’17

                                                                                                                                                                              19
Golf Cars

                                             G30As (five-passenger model)                          Drive2 (two-passenger model)
     Product Profile                                                            Current Business and Market Conditions
     Golf cars have become popular on golf courses today because they           In Japan, demand is highest for five-passenger models, which also
     save labor, let golfers transport their own clubs, lighten work for cad-   carry caddies, and in the U.S., where caddies are often not used, de-
     dies, and encourage smoother, more enjoyable rounds. Various spec-         mand is highest for two-passenger models. Working to create an
     ifications are available based on market and consumer (golf clubs and      easier, more comfortable round for golfers, Yamaha Motor intro-
     resorts) needs. Options include passenger capacity (1, 2, or 5 pas-        duced in 1996 a model that can be remote control operated, with an
     sengers), the power unit (gasoline engine or electric motor) and the       electromagnetic guidance system that uses mounted sensors to auto­
     operating system (electromagnetic guidance or manual).                     matically trace electric cables buried underground. In 2000, the
                                                                                Company introduced a more environmentally friendly model
     Background of the Business                                                 equipped with a much quieter electric motor.
     In 1972, Yamaha Motor began developing a land car for use at a re-
     sort owned and operated by Nippon Gakki (presently Yamaha Cor-             Production
     poration), later segueing into the development of golf cars, which the                       Name of company                                   Location
     Company released for the first time in 1975 with its YG292 model.
     Subsequently, as the business has grown, in addition to production at                                                                         Kakegawa,
                                                                                  Yamaha Motor Powered Products Co., Ltd.*
     our factory in Japan, we commenced production at a factory in the                                                                           Shizuoka, Japan
     United States in 1988 followed by Thailand in 2015, and have now
                                                                                  Yamaha Motor Manufacturing Corporation
     produced more than one million golf cars in total.                                                                                          Georgia, U.S.A.
                                                                                  of America*
                                                                                * Group company

                   FY2017 worldwide demand for golf cars                                  FY2017 Yamaha Motor unit sales of golf cars
                   Note: Yamaha Motor surveys
                                                                                           Rest-of-world
                    Rest-of-world                                                            6 (9.9%)
                     34 (18.6%)
                                                                                                              Japan
                                                                                                                7
                                                                                                             (10.2%)
                      Japan                     Worldwide
                                                 demand                                                                  Unit sales
                        8
                     (4.2%)                       181                                                                       65
                                              Unit: thousands                                                           Unit: thousands
                                               (%): share of                                                             (%): share of
                                                 demand                                                                    demand

                                             North America                                                             North America
                                              140 (77.2%)                                                               52 (79.9%)

                                  Yamaha Motor unit sales of golf cars                                  Yamaha Motor sales from golf cars
                          Unit: thousands                                                         Unit: billion ¥
                          80                                                                      50

                          70
                                                                65                                                                        41.6
                                   63        61           63                                                           38.9
                                                                                                  40
                          60                                                                                                       36.1
                                                                                                          31.1
                          50                                                                      30
                          40

                          30                                                                      20

                          20
                                                                                                  10
                          10

                              0                                                                    0
                                   ’14       ’15          ’16   ’17                                         ’14        ’15          ’16   ’17

20
Generators

                           EF1600iS                                 EF5500iSDE                                    EF2500i

Product Profile
Yamaha generators use a small engine powered by gasoline and gas            to a broader range of operating environments in addition to offering
cartridges to generate electricity. Models offered include everything       sufficient durability, reliability, and quality sustained power. Mean-
from light and compact generators that can be carried around with           while, Yamaha Motor is actively developing new 4-stroke and inverter-
one hand, to utility generators used as a power source for tools and        type models that meet voluntary regulations set by the Japan Land
lighting equipment at construction sites and in other settings. Yamaha      Engine Manufacturers Association and other strict emissions stan-
Motor also provides inverter-type generators, which can be used as          dards adopted around the world.
a power source for computers and other precision electronic equip-
ment. These generators are also indispensable as an emergency               Production
power source during power outages and in disaster areas.                                      Name of company                     Location

Background of the Business                                                                                                       Kakegawa,
                                                                                 Yamaha Motor Powered Products Co., Ltd.*
Building on its small engine technologies, Yamaha Motor released its                                                           Shizuoka, Japan
first generator model, the ET1250, in 1973.
                                                                                 Yamaha Motor Powered Products (Jiangsu)
                                                                                                                                Jiangsu, China
                                                                                 Co., Ltd.*
Current Business and Market Conditions
As needs for generators expand beyond business applications, these          * Group company
products now need to be quieter, easier to operate, and applicable

    Snow Throwers

                                             YS-1390AR                                          YS-860B

Product Profile                                                             Current Business and Market Conditions
Snow throwers make living out the winter easier in snow-bound re-           Yamaha Motor offers 15 snow thrower models, primarily for residen-
gions such as Hokkaido, Tohoku, Kita-Kanto, Koushinetsu, Hokuriku,          tial use, so customers can choose according to the amount of snow-
and Sanin in Japan. Yamaha Motor offers a broad range of snow               fall, area to be cleared, and type of snow of where they live.
thrower models, from compact units handy for clearing porches and                  Incorporating our technologies and expertise gained over 40
walkways at home to large models suited for commercial use.                 years, our snow throwers are popular for their functions, ease of use,
                                                                            and durability.
Background of the Business
Utilizing its small engine technologies, Yamaha Motor released its          Production
first snow thrower model, the YT665, in 1978.                                                 Name of company                     Location
                                                                                                                                 Kakegawa,
                                                                                 Yamaha Motor Powered Products Co., Ltd.*
                                                                                                                               Shizuoka, Japan
                                                                                 Yamaha Motor Powered Products (Jiangsu)
                                                                                                                                Jiangsu, China
                                                                                 Co., Ltd.*
                                                                            * Group company

                                                                                                                                                     21
You can also read
NEXT SLIDES ... Cancel