Yamaha Motor Co. reports Q2 earnings

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Yamaha Motor Co. said net sales for the first half of its fiscal year were 853.1 billion yen ($7.7 billion), up 2.8 percent compared to the same period a year ago. Net income dropped 6.3 percent for the first half, to 56.984 billion yen ($513 million).

The company said in an online statement that net sales were up thanks to a “healthy” marine business, emerging-markets motorcycle business, industrial machinery and its robots business. Yamaha said in a presentation that benefits of its outboard production ramp-up will visible in the second half of the year.

Net sales in the marine business were up 5 percent, to 188.7 billion yen ($1.7 billion), compared to the first half of last year. The division had operating income of 38.2 billion yen ($343.6 million), up 3.5 percent. The marine segment has been the company’s strongest performer in operating income over the past three years.

Yamaha maintained its full-year guidance of 1,700 billion yen ($15.3 billion) in net sales and 103 billion yen (926.8 million) in net income.