Bamby
New member
Since Yamaha produces such a wide range of outdoor products used by sportsman in almost any outdoor activity hopefully it will all work out in the end. People we're in deep dog do-do and no one can say where it will end.....
Yamaha Restructuring?
Below please find the first message to Yamaha employees from Mr. Tsuneji Togami in his new role, effective November 1, as President, Chief Executive Officer and Representative Director of Yamaha Motor Co., Ltd. Mr. Togami presents an urgent and direct vision for global Yamaha in his communication to all of us. His vision emphasizes the importance of restructuring Yamaha’s “Product Creation” process to create innovative, attractive future products while operating low cost manufacturing systems, along with reducing other operating expenses in light of lower expected demand.
Of course, in the U.S. Yamaha Group Companies, the manufacturing and engineering functions must devote their efforts to the restructuring of the Product Creation process. However our sales functions must support it strongly as well by proposing products which customers will want, by developing higher value-added sales and marketing activities (such as Pro Yamaha, etc.) and by making further progress in achieving cost effective operations. Also, the YMUS Corporate Divisions should support all of these activities efficiently and effectively. I believe that these combined efforts will help Yamaha greatly in lowering the break-even point of our business and being an excellent company.
As I said in the Quarterly State-of-the-Business Report issued last week, I feel that 2009 will be remembered as one of our most challenging years as a company. In addition, I said that I hoped 2009 will also be remembered as a time when we began to make real and tangible progress.
I want to thank you again for your hard work and valuable contributions to date. Again I ask for your continued efforts to navigate through these great challenges, and for your support to revise our ways of doing business to ensure a return to profitability and future success.
Please join me in extending your full dedication and support to Mr. Togami’s global Yamaha leadership.
Masato Adachi
An Inauguration Message from the New President
My name is Tsuneji Togami. As part of a change in management to address the urgent situation we face, I have been appointed the President, Chief Executive Officer and Representative Director of Yamaha Motor Co., Ltd.
Some of you may wonder why I have returned as the Representative Director after leaving my previous executive position. Above all, the move is necessary because we have to pursue bold, stringent initiatives that can meet the present threat to the Company’s survival.
As the new President of Yamaha Motor, I have to do some things I dread ― things I imagine you will be unhappy to hear. If the Company could navigate through the current crisis without taking such actions, no one would be proposing them. However, we must bear in mind that the Company is experiencing the greatest financial crisis since its founding, and exceptional circumstances demand exceptional measures.
In fiscal 2009, the Company is forecast to register the biggest net loss in its history, totaling approximately 180 billion yen. This would be devastating in itself, but it is made still worse by a business environment that shows no sign of improving next year, or any time in the foreseeable future.
Specifically, (1) the Japanese yen is expected to remain strong against the U.S. dollar, (2) personal consumption in developed economies is not recovering, and (3) excessive market stocks will persist for some time. Sales and production volume in developed economies are unlikely to recover for the next two to three years. While the commuter vehicle business in the ASEAN region holds the fort, our mainstay businesses ― the Motorcycle, Marine Engine and Recreational Vehicle businesses for developed economies will remain sluggish, making their recovery difficult. If the Company had retained enough of its past earnings as reserves, we would have the luxury of observing changes in the environment before deciding whether or not to take restructuring measures, but unfortunately, that is not the case. The situation demands rapid restructuring, which means downsizing our business operations to match our current sales volume. This requires rolling back all our expenses to levels commensurate with current sales.
For instance, if sales in your business sector decreased by 30%, curtailing all expenses by the same 30% would ensure your sector does not generate a loss. I realize this will be very difficult, but I intend to formulate specific plans and present them to you soon.
So far I have been addressing financial restructuring. Next, I would also like to ask your cooperation in restructuring our product creation process. I believe that Yamaha Motor can only survive as a successful manufacturer by supplying superb products, developed and produced with advanced technologies and enthusiasm worthy of the Yamaha brand, as it always has in the past. To this end, we must be more aggressive in developing technologies that fit every aspect of people’s lifestyles. We can maximize our expertise and ingenuity to develop low-cost manufacturing systems, while still creating high-end products that deliver greater satisfaction to customers. I am well aware that the budgets are limited, but we must concentrate our resources on priority areas and strive to quickly create the innovative, attractive products that guarantee a future for Yamaha Motor.
Product creation integrates hardware, software and spirit. It is the very essence of our Company. Although we find ourselves in the midst of a harsh environment, we must never lose our pride as Yamaha Motor personnel. Now is the time to pull together, as we embark on the challenge of creating products that define the Yamaha spirit.
I understand that I am asking a lot, especially so soon after assuming the President’s position. However, I hope and believe that I can count on your wholehearted cooperation and tireless commitment moving forward.
Yamaha Restructuring?
Below please find the first message to Yamaha employees from Mr. Tsuneji Togami in his new role, effective November 1, as President, Chief Executive Officer and Representative Director of Yamaha Motor Co., Ltd. Mr. Togami presents an urgent and direct vision for global Yamaha in his communication to all of us. His vision emphasizes the importance of restructuring Yamaha’s “Product Creation” process to create innovative, attractive future products while operating low cost manufacturing systems, along with reducing other operating expenses in light of lower expected demand.
Of course, in the U.S. Yamaha Group Companies, the manufacturing and engineering functions must devote their efforts to the restructuring of the Product Creation process. However our sales functions must support it strongly as well by proposing products which customers will want, by developing higher value-added sales and marketing activities (such as Pro Yamaha, etc.) and by making further progress in achieving cost effective operations. Also, the YMUS Corporate Divisions should support all of these activities efficiently and effectively. I believe that these combined efforts will help Yamaha greatly in lowering the break-even point of our business and being an excellent company.
As I said in the Quarterly State-of-the-Business Report issued last week, I feel that 2009 will be remembered as one of our most challenging years as a company. In addition, I said that I hoped 2009 will also be remembered as a time when we began to make real and tangible progress.
I want to thank you again for your hard work and valuable contributions to date. Again I ask for your continued efforts to navigate through these great challenges, and for your support to revise our ways of doing business to ensure a return to profitability and future success.
Please join me in extending your full dedication and support to Mr. Togami’s global Yamaha leadership.
Masato Adachi
An Inauguration Message from the New President
My name is Tsuneji Togami. As part of a change in management to address the urgent situation we face, I have been appointed the President, Chief Executive Officer and Representative Director of Yamaha Motor Co., Ltd.
Some of you may wonder why I have returned as the Representative Director after leaving my previous executive position. Above all, the move is necessary because we have to pursue bold, stringent initiatives that can meet the present threat to the Company’s survival.
As the new President of Yamaha Motor, I have to do some things I dread ― things I imagine you will be unhappy to hear. If the Company could navigate through the current crisis without taking such actions, no one would be proposing them. However, we must bear in mind that the Company is experiencing the greatest financial crisis since its founding, and exceptional circumstances demand exceptional measures.
In fiscal 2009, the Company is forecast to register the biggest net loss in its history, totaling approximately 180 billion yen. This would be devastating in itself, but it is made still worse by a business environment that shows no sign of improving next year, or any time in the foreseeable future.
Specifically, (1) the Japanese yen is expected to remain strong against the U.S. dollar, (2) personal consumption in developed economies is not recovering, and (3) excessive market stocks will persist for some time. Sales and production volume in developed economies are unlikely to recover for the next two to three years. While the commuter vehicle business in the ASEAN region holds the fort, our mainstay businesses ― the Motorcycle, Marine Engine and Recreational Vehicle businesses for developed economies will remain sluggish, making their recovery difficult. If the Company had retained enough of its past earnings as reserves, we would have the luxury of observing changes in the environment before deciding whether or not to take restructuring measures, but unfortunately, that is not the case. The situation demands rapid restructuring, which means downsizing our business operations to match our current sales volume. This requires rolling back all our expenses to levels commensurate with current sales.
For instance, if sales in your business sector decreased by 30%, curtailing all expenses by the same 30% would ensure your sector does not generate a loss. I realize this will be very difficult, but I intend to formulate specific plans and present them to you soon.
So far I have been addressing financial restructuring. Next, I would also like to ask your cooperation in restructuring our product creation process. I believe that Yamaha Motor can only survive as a successful manufacturer by supplying superb products, developed and produced with advanced technologies and enthusiasm worthy of the Yamaha brand, as it always has in the past. To this end, we must be more aggressive in developing technologies that fit every aspect of people’s lifestyles. We can maximize our expertise and ingenuity to develop low-cost manufacturing systems, while still creating high-end products that deliver greater satisfaction to customers. I am well aware that the budgets are limited, but we must concentrate our resources on priority areas and strive to quickly create the innovative, attractive products that guarantee a future for Yamaha Motor.
Product creation integrates hardware, software and spirit. It is the very essence of our Company. Although we find ourselves in the midst of a harsh environment, we must never lose our pride as Yamaha Motor personnel. Now is the time to pull together, as we embark on the challenge of creating products that define the Yamaha spirit.
I understand that I am asking a lot, especially so soon after assuming the President’s position. However, I hope and believe that I can count on your wholehearted cooperation and tireless commitment moving forward.
