Yamaha sees mixed results in 2011’s first half

Yamaha reported negative net sales, but positive operating income and net income through the first six months of 2011.

Contributing to a 1.9 percent decrease to ¥663 billion in net sales were the appreciation of the yen and the March earthquake in Japan. Despite this, operating income was up 18.6 percent to ¥41 billion, and net income was up 21.8 percent to ¥29 billion. The increases were credited to the recovery of sales in some segments, cost reduction through structural reform and a reversal of the accrual for product liabilities.

Motorcycle net sales through June 30 decreased 3.8 percent from the year-ago period to ¥462 billion. North American net sales of motorcycles dropped 11 percent to 31,000 units. However, Central and South America, among other areas, saw increases. For the second quarter, motorcycle sales were down 6.8 percent to ¥242 billion.

Net sales of power products, including ATVs, saw a 0.8 percent increase in net sales ¥44 billion for the first sixth months of the year. North American sales were up to ¥22 billion, an increase of 2 percent over the year-ago period. For the second quarter, power product net sales were down 4.5 percent to ¥23 billion.

For the first half of 2011, marine products saw an increase of 6.5 percent worldwide to ¥102 billion on a recovery for demand for outboard motors and PWC. North American sales reached ¥45 billion, up 11 percent over the year-ago period. For the second quarter, net sales dropped 2.7 percent on the negative impact of exchange rates and a sales decrease in the United States, triggered by supply delays following the earthquake.

The forecast for the fiscal year’s operating income has increased ¥15 billion to ¥68 billion, and net income expectations also increased ¥15 billion to ¥35 billion. The net sales forecast of ¥1.3 trillion has remained unchanged.

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