Yamaha Motor Co., Ltd. announced that for the first half of the fiscal year ending Dec. 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 13.2 billion yen, while ordinary income fell 9.1% to 70.2 billion yen and net income for the period attributable to parent company shareholders was down 8.4% to 52.2 billion yen.

Although sales increased in the marine and financial services segments, falling sales in the land mobility 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.

In developed markets, motorcycle sales fell due to yen appreciation, but operating income remained unchanged thanks to increased sales in Europe. Marine business net sales rose 6.4% thanks to an increase in outboard motor, water vehicle and sports boat sales in North America and Europe. Financial services sales increased 3.4%.

For 2019, Yamaha Motor forecasts a 1.8% decrease in net sales to 1,670.0 billion yen, with operating income expected to fall 6.0% to 125.0 billion yen. There is likely to be a 5.9% 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.

Link: Yamaha