Yamaha Motor Co., Ltd today reported sales of $80.6 billion (855.9 billion yen) for the first half of its fiscal year. It represents a 0.5 percent gain in total sales. Net income dropped 8.4 percent to $5.3 billion (52.2 billion yen) for the same period.
The company said in a statement that its Marine division had sales of $1.9 billion (197.7 billion yen), a 6.4 percent increase over the same period a year ago. Operating income was up 6.5 percent to $3.7 billion (39.0 billion yen) “Increases in sales and income were achieved thanks to an increase in large outboard motor, water vehicle, and sports boat unit sales in North America and Europe,” said the statement.
The company revised its 2019 forecast downward, expecting 1.8 percent lower sales and 5.6 percent lower net income for the year. The revision comes because of “sluggish sales owing to the effects of U.S.-China trade friction in the robotics business, as well as lower unit sales in Vietnam and deterioration of the model mix in Taiwan in the emerging markets motorcycle business,” according to the statement.