Yamaha Motor Co. Ltd. (YAMHF.PK) reported Tuesday that its fiscal 2015 net income declined 12.3% from last year to 60 billion Japanese yen, while operating income climbed 38 percent to 120.4 billion yen.
Ordinary income climbed 28.7 percent to 125.2 billion yen and net sales rose 6.2 percent to 1.62 trillion yen.
The company said its sales and income were strong in developed markets, with increases in global and higher-priced models in the motorcycle segment, large models in the marine segment, and recreational off-highway vehicle models in the power-product segment.
In emerging markets, revenues were at the previous year's level. Higher motorcycle sales in Vietnam, the Philippines and Taiwan as well as premium models, were offset by reduced unit sales and currency depreciations in markets such as Indonesia, Brazil and China.
Looking Ahead, for 2016, Yamaha Motor forecasts net sales rising 5.2 percent to 1.7 trillion yen and net income climbing 33.3 percent to 80.0 billion yen. Operating income and ordinary income are forecast to decrease 0.4 percent and 0.2 percent, respectively.
In Japan, Yamaha shares plunged 18.07 percent on Tuesday to settle at 1,750 yen.
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