YAMAHA DOWN
February 5 2008.
 
Yamaha Motor Co. has announced its group net profit for the year ended December slid 7.8% on year, dragged lower by weak sales in North America and extraordinary losses from its U.S. unit.

For the year ended December, the world's second-largest motorcycle maker by sales volume after Honda  said its group net profit fell to Y71.22 billion from Y77.23 billion a year earlier, while its group sales grew 11% to Y1.757 trillion.

The net profit figure was below the company's forecast for Y79.50 billion, but sales beat its forecast for Y1.700 trillion.

The company said a slowdown in U.S. sales due to the economic downturn there, along with write-downs in claims related to side-by-side vehicles at its U.S. unit, contributed to the profit decline. Strong sales of motorcycles in Asia and Latin America were not enough to offset that decline, the motorcycle maker said.

For 2008, Yamaha forecasts a group net profit of Y59 billion on revenue of Y1.83 trillion.
 

Source: Nikkei