IWATA, Japan--(BUSINESS WIRE)--Yamaha Motor Co., Ltd. (TOKYO:7272) (ISIN:JP3942800008) announced today that in its fiscal 2016 year, which finished on December 31, net income increased 5.2 percent to 63.2 billion yen thanks to business expansion in emerging markets and improved profitability in various business sectors. Net sales decreased 7.9 percent to 1,502.8 billion yen and ordinary income fell 18.5 percent to 102.1 billion yen.
In motorcycles, unit sales and operating income were strong in emerging markets such as India, Vietnam and the Philippines, thanks to increased sales of higher-priced products and cost reductions. Global net sales decreased due to foreign exchange effects. In developed markets, continued progress was achieved with initiatives to reduce inventories, improve financial positions and carry out structural reforms.
In the marine sector, outboard motor unit sales increased, particularly large models in North America and Europe. Sales and income overall decreased due to foreign exchange effects, but profitability remained high and the operating income ratio was at 19 percent. Initiatives to establish a system-supplier business model achieved progress.
In the new fiscal year, markets and business conditions are forecast to progress as before generally. Yamaha Motor expects to grow income and profits, assuming that foreign exchange rates do not change significantly. The company forecasts fiscal 2017 net sales rising 6.5 percent to 1,600.0 billion yen and net income climbing 18.8 percent to 75.0 billion yen. Operating income and ordinary income are expected to increase 10.5 percent and 17.6 percent, respectively.
For more on Yamaha Motor’s results, visit: http://bit.ly/2iDSCN8
About Yamaha Motor
Yamaha Motor (TOKYO:7272) is a world-leading producer of motorcycles, marine products, power products and intelligent machinery. The company’s diverse business and wide variety of products are built around its proprietary technologies focused on small engines, chassis & hull and electronic control. Yamaha Motor conducts global development, production and marketing operations through 140 subsidiaries and equity-method affiliates in 30 countries. About 90% of consolidated net sales are generated in more than 200 countries outside of Japan. The company is steadily restructuring its global engineering, manufacturing and marketing capabilities for sustainable long-term growth. Please visit https://global.yamaha-motor.com/ir/report/.