现金流(不含销售金融)增长战略和加强我们的金融健康我们的供应产品的能力已经无法跟上需求强劲。亚博体育登录网址 免费换句话说,产品库存水平继续保持在较低水平。这种情况已经持续自2020年下半年的财政和大大不便我们的客户和经销商。从金融的角度来看,然而,这种情况是正的现金流,降低库存带来了更低的营运资金,因此更高的现金。同时,限制我们的促销费用提高了盈利能力,这些因素导致积极的把所有的数据由利润因素,资产负债表和现金流。在2020财政年度,我们所有的企业和基地被迫reacknowledge低库存的好处的COVID-19大流行。我们将以此为契机使适当的库存和成本管理的一部分我们公司的宪法。与此同时,我们看到了巨大的改进的各种指标和现金转换周期(CCC)我们介绍了关键绩效指标(kpi)驾驶我们的财务策略,强调现金流和bal-ance表。我们将寻求巩固这些物品作为关键绩效指标管理我们的主要基地。目前,我们仍然持有额外的手头的资金积累的危机应对措施制定在2020财政年度,我们看着灵活分配的可能性这现金实现我们的增长战略。 The crisis response measures we took this time emphasized flexibility and primarily consisted of fund procure-ment by borrowing from banks, but we are looking to diversify our methods for procuring funding in the future. Our policies regarding portfolio management centered on growth (compound annual growth rate (CAGR)) and capital efficiency (return on invested capital (ROIC)) are being reexamined as part of the process of formulating the next Medium-Term Management Plan, and these policies will thus be imple-mented in fiscal 2022.Pursuit of Sustainable Growth From the outset, sustainability was considered a factor when selecting the targets for growth investments to carry out our medium- and long-term strategies. However, the recent acceleration of decarbonization efforts has led us to introduce contributions toward carbon neutrality as a new criteria for guiding decisions on mobility-related investments. We have also been made glaringly aware that our current organizational structure is insufficient for achieving our growth strategies. For this reason, we are examining the possibility of bolstering the organizations dedicated to accomplishing these growth strategies and of making intent-driven fund allocations that transcend the boundaries of standard business management decisions by clarifying the growth fields to be targeted in each of our core businesses and creating management frameworks to that effect.I believe that pursuing carbon neutrality will require us to go beyond merely responding to the associated trends and to instead take the initiative and go on the offensive. At the same time, the pursuit of carbon neutrality presents opportunities for Yamaha Motor to expand its fields of operation as a comprehensive personal mobility manufacturer. Motorcycles and three-wheeled vehicles make sense as mobility options for their flexibility in movement, and they also boast a substantially lower environmental impact than cars due to their compact size. I think transforming motorcycles and three-wheeled vehicles into carbon-neutral forms of mobility through electrification and other means will likely make them extremely welcome options among highly eco- conscious consumers who value logical solutions, particularly among younger generations worldwide. Yamaha Motor will also branch out from these vehicles to introduce completely new forms of carbon-neutral mobility in order to realize its Long-Term Vision of ART for Human Possibilities.Going forward, the Company will work to build stable financial foundations and carry on its existing businesses while also aiming to expand into new business domains.2019 Results2020 ResultsCash-InCash-OutCash-InCash-OutCash-InCash-Out2021 Forecast(FY) Net income for the period Increases and decreases in working capital and other items Depreciation expenses Growth investments Stock dividends Capital expendituresImprove our earnings power and reallocate cash toward growth investments and shareholder returns+¥9.2 billion+¥64.6 billionCash Conversion Cycle*(days) Consolidated United States Europe Indonesia India* Excluding sales finance2019 2020 2021 Forecast(FY)06012018031Yamaha Motor Co., Ltd. Integrated Report 2021