Yamaha Motor Co. (YAMHF.PK) reported Wednesday that its fiscal 2019 net income attributable to parent company shareholders declined 18.9 percent from last year to 17.6 billion Japanese yen.
Operating income fell 18.1 percent to 25.4 billion yen and ordinary income declined 13.4 percent to 119.5 billion yen due to increased growth strategy expenses and foreign exchange effects. However, operating income increased in the developed markets motorcycle business.
Consolidated net sales for the year were 1.66 trillion yen, a decrease of 0.5 percent from the same period in the previous year. Sales increased in the marine and financial services segments, but dipped in the land mobility and robotics businesses.
Looking ahead for 2021, Yamaha Motor forecasts a 5.7 percent increase in net sales to 1.76 trillion yen, with operating income expected to grow 6.6 percent to 123.0 billion yen.
The company projects a 5.6 percent increase in attributable net income to 80.0 billion yen due to reduced lessened impact from risk areas such as trade friction between the U.S. and China and the U.K. withdrawing from the E.U.