Yamaha Targets Cars, Robots in New 3-Year Plan

Yamaha Motor Corp. says it will spend 130 billion yen ($1.1 billion) over the next three fiscal years on r&d and launching new businesses, including a line of minicars.

President Hiroyuki Yanagi tells reporters the company’s financial targets for the end of fiscal 2018 include increasing net revenue 21% to 2 trillion yen, hiking consolidated operating income 44% to 125 billion yen and reducing costs by 60 billion yen.

Under the medium-term plan unveiled yesterday, Yamaha will allocate 70 billion yen ($574 million) to research and product development in robotics and creating new 3- and 4-wheeled all-terrain vehicles. The 60 billion-yen balance will be used to start undisclosed new businesses.

The company’s upcoming array of minicars is being tested in Europe and will go into large-scale production in 2018-2021, according to The Nikkei.

Yamaha also will spend 460 billion yen ($3.8 billion) on its existing businesses: motorcycles, marine and power products. The combined new three-year budget of 590 billion is one-third larger than what Yamaha is spending in the previous three-year period that ends next March 31.