May 15, 2003;
Cypress, CA - Yamaha Posts Record Profit Ehlert Powersports Thursday May 8, 2003Yamaha Motor Co. says its group operating profit for the year to March 31 was up 82% to $575.6 million, while net profit improved 168% to $219.5 million on a 7% rise in sales to $8.673 billion.
Yamaha officials said the record profits were achieved through strong sales in developing Asian markets such as China and India. But, in a news conference held May 7, the company forecasted flat earnings in the near future through what it feels will be a softening of demand in North America and Japan.
"We will try to make up for the likely fall in North American motorcycle sales with a rise in other regions, but the business environment looks set to be difficult," a Yamaha executive reportedly told a Reuters correspondent.
In addition to a softening of demand in motorcycles, Yamaha officials may also be worried about a slightly lower U.S. demand for ATVs and outboard engines. North America accounts for about 70% of Yamaha’s operating profit.
