Yamaha Motor Achieves Record First-half Earnings
Net sales in most product groups up solidly
TOKYO--(Business Wire / Korea Newswire) August 09, 2017 -- Yamaha Motor Co., Ltd. (TOKYO:7272)(ISIN:JP3942800008) announced today that in the first half of its fiscal year ending December 31, 2017, consolidated net sales of 828.1 billion yen were up 6.4% from the previous year. The company achieved all-time highs in operating income of 82.2 billion yen (up 25.7%), ordinary income of 83.5 billion yen (up 51.1%), and net income for the period attributable to parent company shareholders of 60.8 billion yen (up 87.5%).
In emerging markets, motorcycle sales rose and operating income was significantly higher thanks to sales of higher priced products and cost reductions due to the advancement of platform-based products. In developed markets, motorcycles, marine, industrial machinery & robot products and electrically power-assisted bicycles contributed to increased sales and income.
Motorcycle net sales rose 6.6%, supported by brisk business in emerging markets, and operating income soared 86.8% due to a more competitive product mix and lower costs. Marine business net sales rose 5.5% on the strength of outboard motor sales in North America. Power products declined 4.0% but industrial machinery and robots climbed 30.4%, boosted by surface mounter unit sales. Drive units for electrically power-assisted bicycles surged in Europe.
For the year, Yamaha Motor forecasts net sales rising 8.5% to 1,630.0 billion yen, operating income rising 24.3% to 135.0 billion yen, and net income attributable to parent company shareholders rising 42.5% to 90.0 billion yen. All figures have been upwardly revised from initial forecasts. The full-year dividend forecast has been raised to 78 yen, up 18 yen from the previous year.
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About Yamaha Motor
Yamaha Motor (TOKYO:7272) 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% 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. Please visit https://global.yamaha-motor.com/ir/report/.
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Yamaha Motor Co., Ltd.
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