Yamaha Motor Co. scored record sales and pretax profits on a consolidated basis in fiscal 1999, which ended March 31, due in part to reduced operation costs, the company said Tuesday.
The motorcycle maker's group pretax profits rose 19.9 percent from the previous year to 30.3 billion yen, while group sales rose 8.5 percent to 877.1 billion yen.
Consolidated net profits jumped 13.8 percent to 11.1 billion yen, but consolidated operating profits decreased 8.2 percent to 37.3 billion yen due to the yen's appreciation, company executives said.
In terms of volume, Yamaha Motor's group motorcycle sales also rose, climbing 4.8 percent from the previous year to 2.07 million units due to increased sales in North America, Europe and other Asian countries, they said.
On an unconsolidated basis, the company posted 12.4 billion yen in pretax profits, up 10.5 percent from a year earlier, and 592.2 billion yen in sales, up 1.5 percent. Operating profits dropped 60.8 percent to 9 billion yen while net profits fell 59.4 percent to 2.6 billion yen.
The company projects consolidated pretax profits of 22 billion yen and group sales of 880 billion yen for fiscal 2000. On an unconsolidated basis, it forecasts pretax profits of 12 billion yen and sales of 590 billion yen for fiscal 2000.