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Yamaha Motor Co., Ltd. (the "Company") announced its summary of consolidated business results for the third quarter (January 1 through September 30, 2007) of the fiscal year ending December 31, 2007. |
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Sales and profits significantly exceeded results for the previous third quarter: 1,335.0 billion yen in net sales, up 13.6 percent; 97.8 billion yen in operating income, up 8.6 percent; 107.4 billion yen in ordinary income, up 13.5 percent; and 67.5 billion yen in net income, up 13.2 percent. |
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These figures are premised on an average purchasing value of 118 yen against the U.S. dollar, 4 yen lower than the previous third quarter, and 153 yen against the euro, 14 yen lower. |
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Broken down by business segment, motorcycle sales totaled 807.2 billion yen -- up 16.5 percent from the previous third quarter -- led mainly by favorable sales in Indonesia, Vietnam and Brazil. Marine product sales amounted to 226.4 billion yen -- up 11.8 percent -- reflecting steady increases in personal watercraft sales in the United States and outboard motors sales in Europe. Power product sales were 191.5 billion yen -- up 14.5 percent -- due mainly to a significant sales increase in side-by-side vehicles in the United States, although all-terrain vehicle sales decreased there. Sales in the "other products" segment fell to 109.9 billion yen -- down 2.0 percent -- resulting from a sales decrease in the Intelligent Machinery business, consisting primarily of surface mounters and other industrial robots. |
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Meanwhile, operating income from the motorcycle business totaled 43.7 billion yen, up 13.7 percent. Operating income from the marine business amounted to 25.0 billion yen, up 22.2 percent. Operating income from the power product business was 19.0 billion yen, up 16.0 percent. Operating income from the "other products" segment stood at 10.2 billion yen, down 31.4 percent. |
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Negative factors affecting operating income include an increase in selling, general and administrative expenses totaling 38.1 billion yen from the previous third quarter; the impact of a change in the product mix and related factors totaling 13.5 billion yen; an increase in depreciation expenses totaling 3.6 billion yen; and hikes in raw material prices totaling 3.4 billion yen. However, these negative factors were more than offset by the positive impact of an increase in exchange translation totaling 33.1 billion yen; an increase in gross profit totaling 25.1 billion yen owing to sales expansion; and cost reductions in procurement operations totaling 8.2 billion yen. |
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The number of consolidated subsidiaries stood at 107, a decrease of one from the previous fiscal year-end, while the number of companies accounted for by the equity method was 40, a decrease of three. |
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The Company has not changed its full-year forecast consolidated financial results for the fiscal year ending December 31, 2007 from the figures officially announced July 31, 2007 with the release of the consolidated financial results for the first half of the fiscal year. The forecast is 1,700 billion yen in net sales, up 7.5 percent from the previous year; 129 billion yen in operating income, up 4.4 percent; 136 billion yen in ordinary income, up 8.5 percent; and 79.5 billion yen in net income, up 2.9 percent. |
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