Video translation thanks to Faggotbird over on Reddit:
Q:Why did you choose 'sport'? (the first part of the answer is cut-off) Whether it's the graphics, physics, handling, or the sound design, you can achieve a big evolution forwards on what you used to. But I don't think just that would be enough. I want it to be completely different from the Gran Turismo we have seen up until now, want it to be a new step forward. The answer to that problem was to completely redesign the motorsports we are used to.
Title card: What kinds of players are you envisaging with Gran Turismo Sport?
We say 7 to 77, talking about the age range. In short, everybody. From children to the elderly, anybody can enjoy it. Real motor sports is not like that. We want to do things you can not achieve in real sports. We don't want Gran Turismo Sorts to be only played by incredibly good players, or people who love Gran Turismo, we want it to be enjoyable even for people who have never played a racing game before. We made it with those thoughts in mind.
What about the partnership with the FIA?
The International Federation of Motorsport has already been around for over a hundred years. However, they do not expect motorsport to carry on in the same fashion it has up until now. So we and the FIA entered an agreement to design the next 100 years of Motorsport. With the Gran Turismo Series, we were aways focused on continuing to make history with it. And with Sports, we want to to create a new future for motorsports, that is the idea behind it. It's very exciting.
That's what Yamauchi was talking about.