Yamaha Q2 Profits

From a Yamaha Press Release:

TOKYO - Japan's Yamaha Motor said Thursday its group net profit in the three months to June rose 3.4 percent from a year earlier to 8.7 billion yen (72.5 million dollars) thanks to growing sales abroad.

The world's second largest motorcycle manufacturer said its recurring profit rose 6.4 percent to 16.5 billion yen with sales up 3.3 percent at 257.4 billion yen.

"In the motorcycle business, domestic sales declined but sales in North America, Europe and Asia grew, boosting our overall foreign sales," Yamaha said in a statement.

Sales grew by 8.8 percent in Europe to 67.4 billion yen, with Asia up 6.5 percent to 42.5 billion yen, while North America, Yamaha's largest overseas market, edged up 2.1 percent to 86.4 billion yen.

Japanese sales slipped 5.4 percent to 38.8 billion yen.

The company maintained its full-year forecasts announced in May, aiming to earn net profit of 32 billion yen and recurring profit of 68 billion yen on sales of 1.03 trillion yen, all of which would be record levels.
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George Obradovich
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