Yamaha have released their financial results for the first six months (January to June 2016) of their 2016 financial year.
Net sales of motorcycle products overall were 477.5 billion yen (a decrease of 49.5 billion yen or 9.4% compared with the same period the previous fiscal year), and operating income was 18.1 billion yen (a decrease of 4.0 billion yen or 18.0%).
For unit sales in developed markets, while Europe experienced an increase due to the effect of the launch of new products such as the MT-10 and XSR900, North America saw a decrease due to the planned reductions in distribution inventories, leading to overall unit sales on a similar level to the previous year. Although net sales and operating income both decreased due to the appreciating yen, they both remained in the black.
Unit sales in the emerging markets of India, the Philippines, Vietnam and Thailand increased, but decreased in Indonesia and Brazil due to market slumps etc., leading to overall unit sales on a similar level to the previous year. While net sales decreased, operating income was on a similar level to the previous year thanks to the effects of product mix improvements and cost reductions etc. absorbing the effects of local currency depreciation.
In terms of Yamaha’s overall global corporate results, the period saw net sales of 778.3 billion yen, (a decrease of 50.4 billion yen or 6.1% compared with the same period the previous fiscal year), and operating income was 65.4 billion yen (a decrease of 8.0 billion yen or 10.9%). Due to foreign exchange losses etc., ordinary income was 55.3 billion yen (a decrease of 19.1 billion yen or 25.7% against the same period the previous fiscal year), and net income for the half year attributable to parent company shareholders was 32.4 billion yen (a decrease of 19.7 billion yen or 37.8%).
Developed markets experienced a decrease in sales and income compared with the same period the previous fiscal year due to the appreciating yen. In the emerging markets motorcycle business segment, while net sales decreased due to lower unit sales in Indonesia, Brazil, etc., operating income was on a similar level to the previous year thanks to the effects of cost reductions such as product mix improvements and promotion of the platform transition absorbing the effects of local currency depreciation. In addition, development costs related to future growth were systematically invested across the entire company.
For the first half consolidated accounting period, the U.S. dollar traded at 112 yen (an appreciation of 8 yen from the same period the previous fiscal year), and the euro at 125 yen (an appreciation of 9 yen).
