Q2 Earnings: Yamaha Motor Records Strong Growth in Net Sales

By Dipo Olowookere

Yamaha Motor Company Ltd has announced that in the first half of its fiscal year ending December 31, 2018, consolidated net sales of 851.3 billion yen were up 2.8% from the previous year. The company achieved all-time highs in operating income of 82.2 billion yen (up 0.1%), however saw a 5% decrease in ordinary income to 79.3 billion yen and 6.3% decrease in net income for the period attributable to parent company shareholders to 57.0 billion yen.

Net sales increased thanks to healthy results in the emerging markets motorcycle business, the marine business, and the industrial machinery and robots business.

Operating income increased on the back of motorcycle product mix improvements in emerging markets and the industrial machinery and robots business absorbing decreased income in the developed markets motorcycle business.

Motorcycle net sales rose 3.7%, supported by strong business results in emerging markets, and operating income increased by 4.3% thanks to high profitability in the ASEAN region. Marine business net sales rose 5.9% on the back of strong water vehicle sales in North America, with operating income rising by 12.8%. Power products increased 6.5%, while industrial machinery and robots soared 33.2% thanks to surface mounter and robot unit sales.

For the year, Yamaha Motor forecasts net sales rising 1.8% to 1,700.0 billion yen, operating income rising 0.1% to 150.0 billion yen, and net income attributable to parent company shareholders rising 1.4% to 103 billion yen. These figures have not changed from initial forecasts. The full-year dividend forecast also remains at 90 yen.