方向的新的金融StrategyFor预算增长战略在当前中期管理计划,我们对研究与开发费用分摊¥700亿和¥1400亿投资,包括并购。然而,COVID-19大流行已经获得这些资金困难。然而,正如我们的现金收入分配政策和大致方向通过现有如何向新的业务领域将保持不变,我们必须制定和实施财务战略,更强调在每个业务现金流和资产负债表。作为这一战略的新指标,我们引入了现金con-version周期(CCC)和一个简化的投资资本回报率(ROIC)计算关键性能指标(kpi)一样重要。我们从2019年开始全面CCC-based监控,和方法关注现金流的一代已经成为普遍业务部门和区域管理。虽然ROIC主要是利用作为公司整体投资组合管理的指标,我们将它应用到每个业务提高资本效率。通过这些措施,我想改变一起的管理风格使资产负债表下一个明确的财务策略,而不是一个风格,是资产负债表的结果。增加企业ValueYamaha电动机是一个跨行业集团亚博比分官网下的一个品牌。然而,我们从来没有意识到我们是一个集团或充分实施准确的投资组合管理的价值最大化的位置。我们目前正在推进的实施项目组合管理集中在增长(复合年增长率(CAGR))和资本效率(ROIC)。作为董事会的关键议程项目,不仅仅是那些负责业务执行,我们将明确地将为每个业务定义的方向。例如,这样的条件下COVID-19 pan-demic,多元化企业集团应该是无价的,事实上有许多实例的具体企业或地区拯救我们当我们遇到各种各样的危机。 I am convinced that strengthening our portfolio manage-ment will enable us to further exercise our strength of diversity. Seeing the pandemic as a prime opportunity to review our portfo-lio, we will promote a dynamic portfolio strategy and continue creating new value unique to Yamaha Motor and thus achieve operations as a conglomerate premium.Turning to shareholder returns, we will do our utmost to promptly restore business conditions to normal and review the dividend payout ratio, which has traditionally been an indicator for shareholder returns, or introduce new guidelines for the total return ratio and other facets.Approach to Portfolio ManagementBusinesses with stable foundationsGrowth and investment businessesCompanywide weighted average cost of capital (WACC)Rate of increase in net sales(Compound average growth rate)Business FBusiness E0–10–10Simple ROIC(After-tax operating profit / Invested capital under operating division control)Businesses to be restructuredBusiness ABusiness BNew BusinessNew BusinessBusiness DBusiness C31Yamaha Motor Co., Ltd. Integrated Report 2020