IWATA, Japan--(BUSINESS WIRE)--Yamaha Motor Co., Ltd. (TOKYO:7272) announces its consolidated business results for the first half of fiscal 2021.
Net sales for the consolidated accounting period for the first six months of the fiscal year ending December 31, 2021 were 920.1 billion yen (an increase of 234.6 billion yen or 34.2% compared with the same period of the previous fiscal year) and operating income was 109.2 billion yen (an increase of 90.1 billion yen or 471.9%). Ordinary income was 115.1 billion yen (an increase of 94.3 billion yen or 454.8%) and net income for the period attributable to owners of parent was 93.1 billion yen (compared to a quarterly net loss of 2.8 billion yen in the same period of the previous fiscal year).
For net sales, the worldwide spread of COVID-19 infections since March last year led to lower unit sales and production numbers, but the impacts have diminished over this first half of the fiscal year and demand has recovered in all business segments, resulting in higher sales overall.
Operating income increased significantly not only due to the rise in net sales but also from higher purchase prices, cutting fixed costs by using digital technologies for remote access and the like, a decrease in the allowance for doubtful accounts, and other factors, serving to absorb the effects of soaring logistics and raw material costs.
For the first half-year consolidated accounting period, the U.S. dollar traded at 108 yen (unchanged from the same period of the previous fiscal year) and the euro at 130 yen (a depreciation of 11 yen).