Yamaha Motor Co. today reported net sales of $11.15 billion for the first nine months of its fiscal year ending Dec. 31. That’s a 1 percent increase compared to the same period a year ago. Net income fell 8.3 percent to $72 million for the first three quarters.
The company said that “healthy sales” in its marine, power products and emerging markets motorcycle businesses prompted the increase in net sales. For its marine division, net sales were $2.37 billion, up 6.9 percent compared to a year ago. Operating income was $47 million for the first nine months.
“Sales and income increased thanks to the effects of increased outboard motor production starting to become apparent, as well as healthy sales of water vehicles and sports boats,” the company said in a statement.
Yamaha lowered its guidance for the year by 2.9 percent for net sales, to $14.58 billion, from the initial forecast and net income by 7.8 percent, to $84 million. It said that a decrease in unit sales for its motorcycles in developed markets prompted it to lower the guidance.