With net sales up “solidly” in most product groups, Yamaha Motor Co. has announced consolidated business results for the first half of 2017 showing net sales of 828.1 billion yen, an increase of 49.7 billion yen (+6.4%) compared with the same period of the previous fiscal year.
Operating income was 82.2 billion yen, an increase of 16.8 billion yen (+25.7%), ordinary income was 83.5 billion yen, an increase of 28.2 billion yen (+51.1%), and net income for the period attributable to parent company shareholders was 60.8 billion yen, an increase of 28.4 billion yen (+87.5%) compared with the previous fiscal year. Each of these income figures were the company's highest ever.
Net sales of motorcycle products overall were 509.2 billion yen (an increase of 31.7 billion yen or +6.6% compared with the same period of the previous fiscal year), and operating income was 33.8 billion yen (an increase of 15.7 billion yen or +86.8%).
Sales in Europe were on a similar level to the previous year - despite the launch of new products such as the MAX series - due to the impact of environmental regulations (Euro 4, effective January 1st 2017).
In North America sales decreased due to weakening demand, leading to an overall decrease in sales. Net sales were on a similar level to the previous year thanks to product mix improvements, and operating income moved into the black.
In the developed markets business, net sales increased compared with the same period of the previous fiscal year thanks to increased sales of motorcycles, marine, industrial machinery and electrically power-assisted bicycles etc.
Unit sales in emerging markets such as Vietnam, the Philippines, Thailand and Taiwan increased, and despite decreasing in Indonesia due to the market slump there, the unit sales figure increased overall. Net sales increased, and operating income increased significantly thanks to the effects of product mix improvements and cost reductions.
In the emerging markets motorcycle business segment, net sales increased compared with the same period of the previous fiscal year thanks to increased unit sales, and operating income increased significantly thanks to profitability improvements in the ASEAN region and through structural reform in Brazil.
Yamaha’s operating income forecast for the fiscal year ending December 31 is at the highest-ever level, and net income attributable to parent company shareholders is forecast to reach its highest-ever point.
