Yanmar Marine International is reporting four consecutive years of sales growth for its recreational marine business. The sustained growth follows the implementation of a new strategy to lift its global presence.
The company said in a statement that “significant cultural change and investment” by Yanmar from 2015 is now “paying dividends” with positive sales and increased brand recognition. Yanmar said it plans to acquire companies to expand its “systems packages.”
YMI President Shiori Nagata said that she planned to double sales when she took over the company in 2015. Nagata said sales growth remains “on track.”
“My aim when I started the role was to revitalize Yanmar’s marine recreational business, partly by changing the corporate culture by making it faster, more effective, proactive, innovative and creative,” said Nagata in the statement. “After four years of strategic expansion, we are now involved with many different projects across the boating industry and see many more opportunities.”
Nagata said the company will continue to invest in new product development and emerging technologies. “Our focus remains to get close to customers so that we know what is needed in the market and to keep on top of emerging trends,” she said. “We’ve been moving towards becoming a systems provider, with our propulsion systems and Vetus/Maxwell onboard systems. I am confident that we can continue to optimize our brand value and capitalize on our strong heritage in the industry with more visibility across the market.”
The company owns Vetus and Maxwell, and in 2017, acquired propeller manufacturer, Flexofold. Recently, it signed an exclusive agreement with Neander Shark for distribution of the Dtorque turbo diesel outboard engine.
Yanmar has also made recent appointments to focus on its global marketing strategy. They include Teruyuki Yamaoka as vice president YMI, Floris Lettinga as director sales and marketing, and the hiring of Martijn Oggel as global sales manager. The company also appointed Daniel Sundberg as Nordics regional manager and Julio Arribas as regional manager for South-Western Europe.
As part of its global brand expansion, Yanmar has also become involved with international racing events including the 36th America’s Cup, the Red Bull Foiling Generation, and the Dragon Class yacht racing team called YANMAR Racing.