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Friday 26th June 2015

Yamaha European unit sales up by + 32 percent in first quarter

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For the first quarter of its new (January - December 2015) financial year, Yamaha's global net sales income from motorcycles was up by +8 percent (243.5 billion yen, up 18.0 billion yen) compared with the same period of the previous fiscal year; operating income was 10 billion yen, an increase of 6.2 billion yen (+164.2%).

Yamaha's total global unit sales for the first quarter of 2015 were actually down by nearly -14 percent (193,000 units) at 1,196,000 from 1,389,000 in the first quarter of 2014.

However, in Europe unit sales we up by +32 percent/14,000 units at 57,000 units from 43,000 in the year-ago quarter, and up by +26 percent/5,000 in North America at 24,000 units from 19,000 last year.

Unit sales were down in Asia at -16 percent/187,000 (966,000 units, from 1,153,000 in the first quarter of 2014); in Japan their unit sales were down - 29 percent/11,000 (27,000 units from 38,000 last year).

The company says that unit sales increased in "developed" markets such as the U.S., where demand continues to recover, and Europe where the MT-09 TRACER continues to do well. The unit sales decreases seen in Asia and Central and South America resulted in overall unit sales being down in global terms.

Net sales income is said to have "surged significantly" thanks to increased sales of products in the higher price range in developed markets such as Europe and North America. Emerging markets also generated increased income with the introduction of new products, even though unit numbers were down.

Operating income also increased in both developed and emerging markets. Yamaha say that the factors generating increased income include sales increases driven by introduction of new products, cost reductions, and yen depreciation absorbing negative factors such as increases in administrative expenses, development costs and currency depreciation in emerging markets.

Net sales for the Yamaha Motor Co., Ltd. consolidated accounting period in the first quarter of the fiscal year ending December 31, 2015 were 386.2 billion yen, (an increase of 27.5 billion yen or 7.7% compared with the same quarter of the previous fiscal year). Operating income for the same period was 34.9 billion yen (an increase of 12.8 billion yen/58.0%).

Developed markets showed increases in both sales and income thanks to several factors, including increased sales in the motorcycle business segment driven by the introduction of new models, increased sales of large models in the marine business, and the effects of yen depreciation.

In emerging markets, sales and operating income remained at a level equivalent to the previous fiscal year, with decreases in unit sales in Indonesia and other countries offset by positive results produced with the introduction of platform models.

Ordinary income was 36.1 billion yen (an increase of 13.2 billion yen/57.4 percent on the same period of the previous fiscal year), and net income for the period was 25.8 billion yen (an increase of 11.1 billion yen/75.5 percent).

For the first quarter consolidated accounting period, the U.S. dollar traded at 119 yen (a depreciation of 16 yen from the same period of the previous fiscal year), and the euro at 134 yen (an appreciation of 7 yen).

For the 2015 financial year (January - December 2015) Yamaha have made no changes to the forecasts that were presented in the previous fiscal year report on February 12; namely 1.7 trillion yen in net sales, 120.0 billion yen in operating income, 123.0 billion yen in ordinary income and 76.0 billion yen in net income for the fiscal year. Their forward forecasts are based on the assumption that the U.S. dollar will trade at 115 yen during the period (a depreciation of 9 yen based on the ratio seen in fiscal 2014), and the euro at 130 yen (an appreciation of 10 yen based on 2014 figures).

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