Yamaha Motor Co. reported sales of $14.5 billion (1.6 trillion yen) for its full fiscal year, a decrease of 0.5 percent compared to fiscal 2018. Net income fell 18.9 percent to $690 million (75.7 billion yen).
The company saw increased sales in its marine and financial services divisions. It reported decreased sales in land mobility and robotics.
Its marine division reported a 2 percent increase in sales of $3.2 billion (351.1 billion yen) for the year, with operating income down 3.9 percent to $532.4 million (58.4 billion yen).
Unit sales increased in personal watercraft and sportboats, according to a statement. Sales of high-horsepower outboards (200 hp and above) increased in North America and Europe. Sales of “mainstay small- to medium-sized outboard motors in freshwater areas” fell because of poor weather, the company said in the statement, resulting in lower sales of outboards overall. Due to significant foreign exchange effects, the overall business result showed increased net sales but decreased income, the statement said.
“Going forward, we will strengthen relationships with boatbuilders and promote the system supplier strategy, while responding rapidly and flexibly to changes in the market,” the statement said.
The company forecasted a 5.7 percent increase in 2020 sales to $16 billion (1.76 trillion yen) and 5.6 percent increase in net income to $729.3 million (80.0 billion yen). “We will maintain growth and stable income in existing businesses, and promote new business development with the aim of long-term growth,” the company said.