Yamaha Motor Co. (YAMHF.PK) reported that its first-half profit to owners of the parent declined 0.3 percent year-on-year to 21.1 billion yen. Basic profit per share was 118.3 yen compared to 116.4 yen, prior year. Core operating profit decreased 2.1 percent to 26.1 billion yen due to deteriorating industrial machinery/components business and a negative impact of 3.1 billion yen due to the exchange rate.
For the first-half period, revenue declined 2.2 percent to 208.5 billion year, from last year. The company said its revenue declined as a result of deteriorating market conditions for the industrial machinery/components business and a negative impact of 6.7 billion yen due to the exchange rate. The musical instruments business was firm, during the period.
For fiscal 2020, Yamaha Motor Co. now projects: revenue to be 435.0 billion yen, core operating profit to be 53.0 billion yen and profit for the period attributable to owners of the parent of 41.5 billion yen. The company's previous forecast was: revenue of 444.0 billion yen, core operating profit of 55.0 billion yen, and profit attributable to owners of the parent of 42.5 billion yen.