Yamaha Motor Co., Ltd. has announced that net income soared nearly 61% to a company-record 101.6 billion yen or $950 million in fiscal 2017, which finished on December 31. The huge increase was driven by sales of higher-end products and cost reductions achieved through advanced processes for manufacturing and refined development methods for platform- and global-model motorcycles. Net sales rose over 11% to 1.67 trillion yen or $15.6 billion on strong sales of motorcycles in the ASEAN region, outboard motors in the US and surface mounters and industrial robots. Ordinary income surged nearly 52% to 154.8 billion yen or $1.4 billion.
Motorcycle unit sales in the ASEAN region scored their highest year-over-year gain since 2011. Net sales overall increased and operating income rose substantially on increased sales of products in higher price ranges and the effects of cost reductions in emerging markets such as Brazil and the ASEAN region.
Marine-sector unit sales of outboard motors and water vehicles sales rose and boat production was boosted by boat-builder acquisitions in Europe and the US. Operating income increased on an improved model mix due to increased sales of large outboard motors in North America and Europe.
Yamaha Motor is forecasting stable income in fiscal 2018. Medium- to long-term initiatives should see solid progress assuming that business conditions continue to hold. Net sales are expected to rise 1.8% to 1,700 billion yen or $15.9 billion and net income should climb about 1.4 percent to 103 billion yen or $964 million. Operating income and ordinary income are expected to be on par with their fiscal 2017 levels.
