Yamaha Motor Co., Ltd. announced that for the first half of the fiscal year ending Dec. 31, 2019, consolidated net sales were 855.9 billion yen, an increase of 0.5 percent from the same period the previous year.
The company experienced a 16.1 percent decrease in operating income of 13.2 billion yen, while ordinary income fell 9.1 percent to 70.2 billion yen and net income for the period attributable to parent company shareholders was down 8.4 percent to 52.2 billion yen.
Although sales increased in the marine and financial services segments, falling sales in the land mobility and robotics businesses resulted in overall net sales remaining unchanged. Operating income increased in the marine products business, but decreased overall due to appreciation of the yen, a deterioration in the regional mix of motorcycles in emerging markets and decreased sales in the robotics business.
In developed markets, motorcycle sales fell due to yen appreciation, but operating income remained unchanged thanks to increased sales in Europe. Marine business net sales rose 6.4 percent thanks to an increase in outboard motor, water vehicle and sports boat sales in North America and Europe. Financial services sales increased 3.4 percent.
For 2019, Yamaha Motor forecasts a 1.8 percent decrease in net sales to 1,670.0 billion yen, with operating income expected to fall 6.0 percent to 125.0 billion yen. There is likely to be a 5.9 percent decrease in net income attributable to parent company shareholders to 80.0 billion yen due to sluggish sales resulting from U.S.-China trade friction, reduced sales in Vietnam and deterioration of the motorcycle model mix in Taiwan.
Yamaha Motor is a world-leading producer of motorcycles, marine products, power products and intelligent machinery. The company’s diverse business and wide variety of products are built around its proprietary technologies focused on engines, chassis & hull and electronic control. Yamaha Motor conducts global development, production and marketing operations through 140 subsidiaries and equity-method affiliates in 30 countries. About 90 percent of consolidated net sales are generated in more than 200 countries outside of Japan. The company is steadily restructuring its global engineering, manufacturing and marketing capabilities for sustainable long-term growth.