October 30 2008.

Yamaha Motor Co. announced today that its net profit dropped 36% from a year earlier in the January-September period as the stronger yen and higher material costs offset cost-cutting steps.

The world's second biggest motorcycle maker posted a net profit of Y43.15 billion in the nine months ended September 30, down from Y67.49 billion in the same period last year.

Its sales fell 3.9% to Y1.283 trillion in the nine months ended September from Y1.335 trillion, and operating profit declined 35% to Y64.08 billion from Y97.85 billion.

For the calendar year 2008, the company left unchanged its net profit forecast at Y45 billion and sales outlook at Y1.720 trillion.

Source: The Nikkei