Yamaha Motor Co. reported sales of 1,673.1 billion yen ($9.05 billion) for fiscal 2018, an increase of 0.2 percent compared with the previous year. Net income was 93.4 billion yen ($845.2 million), an 8.1 percent decrease compared to the previous year.
The company reported net sales increases in its marine, power products, industrial machinery and robots, and other segments. Net sales fell in its motorcycle business for the year.
Net sales in the marine division were 344.7 billion yen ($3.12 billion), a 6.4 percent increase compared to fiscal 2017. Operating income was 63.7 billion yen ($576.4 million), up 7.1 percent.
The company said it saw sales increases in outboards, personal watercraft and sportboats. Additional increases in sales and income came through improvements in product mix initiatives, thanks to increased unit sales of large outboards in North America.
The company said improvements in outboard production capacity are progressing, including reviews of global production layouts, “so that we can respond in a more flexible way to growing demand.”
Yamaha expects sales to increase by 1.6 percent for fiscal 2019, with net income to fall by 9 percent.