Yamaha Motor Co. Reports Full-Year Results

Author:
Updated:
Original:
1_Yamaha

Yamaha Motor Co. said that the profound effect of the Covid-19 pandemic, with widespread closures of its manufacturing facilities and continued supply-chain issues, was a chief cause of a decline in net sales for the year.

For all divisions, net sales declined by 193.5 billion yen ($1.8 billion) to 1,471.3 billion yen ($14.9 billion), a loss of 11.6 percent.

In the marine group — which includes outboards, PWC and boats — net sales decreased 21.7 billion yen ($206 million) to 328.3 billion yen ($3.1 billion). Operating income saw a drop of 1.3 percent to 50.6 billion yen ($480 million).

2_Yamaha

The company bounced back in the fourth quarter, with net sales and operating income increasing 1.7 percent and 64.5 percent, respectively.

“Although affected by Covid-19 in the first half of the fiscal year, demand for outboard motors and personal watercraft increased due to an upsurge in outdoor demand after lockdowns,” the company said in a statement.

“Overall unit sales of marine products decreased as a result of North American boatbuilders having temporarily suspended operations, dealers having temporarily shut down, and the Iwata main factory and U.S. factories having temporarily suspended operations, but unit sales of outboard motors to North America and Europe increased in the second half of the fiscal year,” the company continued. “Although the group has continued to expand sales of large outboard motors despite the effect of Covid-19, both sales and profits decreased in the entire business as a result of the difficulties on catching up on the first half of the year.”

Related

Caught Red-Handed

Two commercial fishermen were jailed for possessing an illegal haul that included 100 undersized lobster tails, which is a felony. Also, fisheries management gets new funding.

Bennington Expands Operations

The pontoon builder plans to add jobs at its new facility in Elkhart County, Ind., and increase manufacturing output.

KVH Industries Names CFO

Longtime telecom financial executive Roger A. Kuebel assumes the position that COO Brent Bruun had held in an interim capacity.

Quick Hits: March 4, 2021

Today at 4pm: Intrepid Powerboats celebrates president Ken Clinton’s 30th anniversary with a Facebook Live Q&A.

Sustainability at Navico

The electronics giant recently shifted to 100 percent recyclable packaging and appointed its first chief sustainability officer.

Soundings Trade Only hosts ‘Pitch the Pros’

The one-hour virtual sessions this week featured 18 companies that introduced products and technologies to more than 530 attendees.