Yamaha Motor Co., Ltd. announced that for the first half of the fiscal year ending December 31, 2019, consolidated net sales were 855.9 billion yen, an increase of +0.5% from the same period the previous year. The company experienced a -16.1% decrease in operating income of 13.2bn yen, while ordinary income fell -9.1% to 70.2bn yen and net income for the period attributable to parent company shareholders was down -8.4% to 52.2bn yen.
Although sales increased in the marine and financial services segments, falling sales in the "Land Mobility" sector (which is principally still motorcycles at this stage) 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.
Net sales in the "Land Mobility" sector were 555.3bn yen (a decrease of -2.5bn yen or -0.4% compared with the same period the previous fiscal year), and operating income was 21.1bn yen (a decrease of -6.3bn yen or -22.9%).
In developed markets, motorcycle business sales decreased due to yen appreciation against the euro, but operating income was at the same level as the previous fiscal year thanks to increased unit sales in Europe. In the emerging markets, motorcycle business unit sales increased and product mix improvements progressed in Indonesia, the Philippines, Brazil, Thailand, etc., but unit sales decreased in Vietnam, Taiwan, Argentina, India, etc., resulting in decreased sales and income overall.
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| The new 2020 Euro 5 compliant YZF-R1 and YZF-R1M (seen here) are expected to be on sale in Europe from September 2019. The liquid-cooled, 4-stroke, 4-valve in-line 4-cylinder 998 cm3 engines (with crossplane crankshaft) are said to feature "further advanced and enhanced track performance" based on Yamaha's “Full Control Evolution for the Master of the Racetrack” concept. |
The increase in unit sales of all-terrain vehicles and recreational off-highway vehicles in North America led to increased sales and reduced losses.
In electrically power-assisted bicycles, sales and income increased as a result of healthy sales of E-kits for Europe and child carrier models in Japan. As a result, there was an overall decrease in sales and lower income in the Land Mobility Business.
For 2019 as a whole, Yamaha Motor forecasts a -1.8% decrease in net sales to 1,670.0bn yen, with operating income expected to fall 6.0% to 125.0bn yen (below the original forecast) due to sluggish sales resulting from U.S. - China trade friction, reduced sales in Vietnam and deterioration of the motorcycle model mix in Taiwan.
