In December Yamaha announced that it had formulated a new medium-term management plan for the three-year period from 2016.
The plan builds on the targets of the current (2013-2015 "improving corporate value by achieving sustainable growth") plan and is designed to "increase the earning power of existing businesses, to increase growth investment and stock dividends while securing a more stable financial foundation".
prioritise "communicating high brand power"
Based on this, Yamaha says it is embarking on a new mission of "further new growth from net sales of 2 trillion yen and an operating income ratio standard of 10%" by 2018, aiming to evolve into a "unique company that continues to achieve dynamic milestones".
Among its management strategy objectives Yamaha will seek to put itself in a position to "launch 270 new models" of various kinds in the period concerned.
The key strategies for its motorcycle business will be to "Move towards highly-efficient business management" and to " promote the building of a stable profit structure through high management efficiency and product competitiveness regardless of unit volume".
aim to establish "a unique brand in each aspect of the line-up from commuter to super-sport models
In its developed markets (Europe and North America) Yamaha say that priority will be given to "Communicating high brand power, achieving stable profit through structural reform" and "establishing a unique brand in each aspect of the line-up from commuter to super-sport models" with "sales network policies that respond to customer tastes, and advancing customer development on the theme of "from tangibles to intangibles".
"sales network policies that respond to customer tastes"
The key financial strategies call for increasing the earning power (marginal profit, investment efficiency, and business efficiency) of existing businesses, and generating new growth from a stable financial foundation; increasing investment and stock dividends; aiming for an equity ratio of 42.5%, with a return on earnings (ROE) of 15%, and income per share of 300 yen or more; increasing the efficiency of existing businesses and investing 130.0 billion yen in new growth strategies; increasing the dividend payout ratio from the previous "20% or more" to "30% and expansion of its financing business, especially in North America, aiming for a receivable balance of 300.0 billion yen.
