By Adedapo Adesanya
Japanese automobile giants, Yamaha Motor Co. Limited, has 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 percent from the same period the previous year.
The automobile company experienced a 16.1 percent decrease in operating income of 13.2 billion yen, while ordinary income fell 9.1 percent to 70.2 billion yen and net income for the period attributable to parent company shareholders was down 8.4 percent to 52.2 billion yen.
Despite the fact that sales increased in both its marine and financial services segments, falling sales in the land mobility and robotics businesses resulted in overall net sales remained stagnant.
Operating income increased in the marine products business, but decreased overall due to appreciation of the Japanese yen, a deterioration in the regional mix of motorcycles in emerging markets and decreased sales in the robotics business.
In developed markets, motorcycle sales fell due to yen appreciation, but operating income remained unchanged as a result of increased sales in Europe.
Marine business net sales rose 6.4 percent thanks to an increase in outboard motor, water vehicle and sports boat sales in North America and Europe. Financial services sales increased 3.4 percent in HY 2019.
For 2019, Yamaha Motor forecasts a 1.8 percent decrease in net sales to 1,670.0 billion yen, with operating income expected to fall 6.0 percent to 125.0 billion yen. There is likely to be a 5.9 percent decrease in net income attributable to parent company shareholders to 80.0 billion yen due to sluggish sales resulting from U.S.- China trade friction, reduced sales in Vietnam and deterioration of the motorcycle model mix in Taiwan.
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