— Continued growth in marine and financial services segments —
TOKYO-Wednesday 12 February 2020 [ AETOS Wire ]
(BUSINESS WIRE)-- Yamaha Motor Co., Ltd. (Tokyo: 7272) announced today that for the fiscal year ending December 31, 2019, consolidated net sales were 1,664.8 billion yen, a decrease of 0.5% from the same period the previous year. The company experienced an 18.1% decrease in operating income of 25.4 billion yen, while ordinary income fell 13.4% to 119.5 billion yen and net income for the period attributable to parent company shareholders was down 18.9% to 17.6 billion yen.
Sales increased in the marine and financial services segments, however dipped in the land mobility and robotics businesses. Operating income increased in the developed markets motorcycle business thanks to increased factory utilization rates and structural reform in European and head office production, and in the Indonesia motorcycle business with increased sales of higher-priced products. However, operating income decreased overall due to increased growth strategy expenses and foreign exchange effects.
In developed markets, motorcycle sales increased, particularly in Europe, on the back of models compliant with new emissions regulations. Marine business net sales rose 2.0% thanks to an increase in outboard motor, water vehicle and sports boat sales in North America and Europe. Financial services sales increased 4.8%.
For 2021, Yamaha Motor forecasts a 5.7% increase in net sales to 1,760.0 billion yen, with operating income expected to grow 6.6% to 123.0 billion yen. There is likely to be a 5.6% increase in net income attributable to parent company shareholders to 80.0 billion yen due to reduced lessened impact from risk areas such as trade friction between the U.S. and China and the U.K. withdrawing from the E.U.
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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Corporate Communication Division
Global PR Team
Yamaha Motor Co., Ltd.
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