Yamaha Motor recently reported that the revenue and profit in its marine division rose in the first half of 2022 compared with the first half of 2021.
Net sales in the segment were 255.9 billion yen ($1.93 billion) in the first six months of this year, up from 205.9 billion yen ($1.55 billion) in the first half of 2021, Yamaha said in an earnings press release last week.
Marine segment income rose to 49.6 billion yen ($370 million) from 44 billion yen ($330 million), the company said.
Yamaha now expects a total of 503 billion yen ($3.78 billion) in net sales and 108 billion yen ($810 million) in operating income in marine for the full year, citing brisk sales of outboards.
“Staycation demand continued, and the overall robust demand is expected to remain,” Yamaha stated in an accompanying presentation. “Outboard motor and sports boat unit sales rose, bringing higher sales and profits.”
Yamaha said it encountered supply-chain disruptions and higher costs during the first six months of 2022, but that shipments are improving.
“Supply of outboard motors is on a recovery trend,” the company said.