Yamaha Reporting Higher Sales

November 2019 News Trade Only News

Yamaha Motor Co., Ltd today said that companywide sales rose 0.4 percent for its first three quarters to $11.6 billion (1.27 trillion yen) compared to the same period a year ago. Net income fell 7.5 percent to $9.2 million (75.6 billion yen) for the first three quarters.

The company said in a statement that its marine and financial services business segments reported higher sales, while land mobility and robotics saw lower sales. Operating income was up in marine, but down in the other segments.

Net sales in the marine division were $2.5 billion (274.2 billion) for the first three quarters, up 4.1 percent compared to the same period a year ago.

Operating income rose 2.6 percent to $2.5 billion (52.0 billion yen)

“Thanks to an increase of large outboard motor production, unit sales of high-end models that exceed 200HP in North America and Europe increased,” said the statement “Healthy sales of water vehicles and sports boats also helped to absorb foreign exchange losses and increase sales and income.”

The company did not change its full-year financial forecast. 

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