Despite a drop in sales and second quarter loss reported recently by Japan-based Yamaha Motor Co. Ltd., company officials in the United States said they remain confident in the company's products and its future.
The parent company Friday reported a 19.3 percent drop in net sales for the fiscal 2010 second quarter, to $1.05 billion from $1.3 billion in the year-ago period. The company reported a net loss of $30 million, or 15 cents per share, compared to a net income of $11.2 billion, or five cents per share last year.
Masato Adachi, president of Yamaha Motor Corp. USA, said in a statement that the earnings report, "underscores the severe global market challenges being faced by Yamaha and many other companies, in many industries, worldwide."
However, he said, "Here in the U.S., we remain very confident in Yamaha's brand, products and business operations, and are working diligently through the market's challenges to prepare for future success."
Adachi said Yamaha's U.S. operations are making progress on a number of key fronts.
Yamaha Marine Group, which sells outboard motors, increased its market share to 36.7 percent in the first half of 2009, from 34.7 percent for the year-ago period, according to data from the National Marine Manufacturers Association. June 2009 retail sales increased by 5 percent compared to June 2008, while July 2009 retail sales increased by 21 percent.
"Although we still face many challenges in our recovery, we are pleased with these recent positive signs," said Phil Dyskow, Yamaha Marine Group president, in a statement. "We believe we are taking the appropriate steps to mitigate the remaining challenges and position ourselves for recovery in 2010."
Meanwhile, the economic climate for Yamaha's PWC and sportboat product lines remains challenging, said Yamaha WaterCraft Group president Mark Speaks.
However, he said, "We are starting to see some encouraging signs in the marketplace. We have enjoyed an increase in our share of market with both product lines and a simultaneous improvement in customer satisfaction ratings across our product offerings."
Yamaha WaveRunner market share is up nearly three points compared to the end of the 2008 season, and Yamaha Boats have taken the No. 1 spot in the 20- to 25-foot open bow runabout segment, according to the company.
Yamaha says the improving sales numbers mirror increases in customer satisfaction, which rose nearly four-and-a-half points for WaveRunners and 12 points for sportboats during the last year.