Yamaha Motor Co., Ltd. (the "Company") and certain of its consolidated subsidiaries changed their fiscal year-end from March 31 to December 31, resulting in an irregular nine-month accounting term for the fiscal period ended December 31, 2004. The period was April through December for the Company and certain of its consolidated subsidiaries --- mainly in Japan and North America --- and January through December for other consolidated subsidiaries, principally in Asia and Europe. In order to accurately compare the results for the fiscal year ended December 31, 2005, spanning from January 1 through December 31, 2005 with those for the same period of the previous fiscal year, the Company has provided consolidated financial figures --- for reference only --- which have been re-computed based on a twelve-month period from January 1 through December 31, 2004. Hereafter, these re-computed figures are referred to as the results for or value in "the same period of the previous year".
The Company's consolidated results for the fiscal year ended December 31, 2005 amounted to 1,375.2 billion yen in net sales, 103.3 billion yen in operating income, 103.1 billion yen in recurring profit and 64.0 billion yen in net income, representing record highs for both sales and profits. Reflecting these favorable results, the Company will propose increasing the amount of annual cash dividends to be paid, for the fourth consecutive year --- to 28 yen --- at the Ordinary General Meeting of Shareholders.
When compared with the results for the same period of the previous year (January 1 through December 31, 2004), net sales and operating income for the fiscal year under review increased by 16.9 percent and 16.4 percent, respectively.
On the exchange rate front, the average purchasing value of the yen against the U.S. dollar during the fiscal year under review appreciated one yen compared with the value in the same period of previous year, to 107 yen. Meanwhile, the average purchasing value of the yen against the euro depreciated by four yen compared with the value in the same period of the previous year, to 136 yen.
Broken down by business segment, motorcycle sales increased 19.2 percent from the same period of the previous year, to 759.8 billion yen. Sales of marine products rose 10.0 percent from the same period the previous year, to 249.8 billion yen. Sales of power products climbed 14.9 percent from the same period of the previous year, to 227.2 billion yen. Sales in the "other products" segment went up 20.8 percent from the same period of the previous year, to 138.5 billion yen. Due to sales expansion in all business segments compared with the same period of the previous year, net sales for the fiscal year under review set a record for the seventh consecutive year, in real terms.
With regard to profit, operating income for motorcycles increased 26.6 percent from the same period of the previous year, to 33.2 billion yen. Operating income for marine products rose 22.4 percent from the same period of the previous year, to 24.7 billion yen. Operating income for power products climbed 1.0 percent from the same period of the previous year, to 26.9 billion yen. Operating income for the "other products" segment went up 16.7 percent from the same period of the previous year, to 18.6 billion yen. Due to increased operating income in all business segments compared with the same period of the previous year, total operating income for the fiscal year under review also set a record, in this case for the fifth consecutive year, in real terms.
Effective from the fiscal year under review, the Company changed the accounting status of Yamaha Jianshe Motor Shanghai Marketing Co., Ltd. from an equity method applied company to a consolidated subsidiary, since it launched full-scale operation during the period. Due to this and other factors, the number of consolidated subsidiaries at the fiscal year-end stood at 98, an increase of two from the previous fiscal year-end, while the number of companies accounted for by the equity method was 51, the same as at the previous fiscal year-end. |
The Company forecasts its consolidated business results for the fiscal year ending December 31, 2006 as follows: 1,450 billion yen in net sales; 115 billion yen in both operating income and recurring profit; and 65 billion yen in net income. When compared with the figures for the fiscal year ended December 31, 2005, net sales and operating income are projected to increase by 5.4 percent and 11.3 percent, respectively. According to these forecasts, net sales and operating income are expected to break their previous record highs, for the eighth and sixth consecutive year, respectively. Based on this favorable performance, the Company plans to pay annual cash dividends of 30 yen per share.
The forecast figures are based on the assumption that the average value of the yen against the U.S. dollar during the fiscal year will depreciate by five yen from the previous year, to 112 yen, and will remain the same as the previous year against the euro, standing at 136 yen. |
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