By reinforcing its business strategies,
Yamaha Motor reached the targets set under its
Medium-Term Management Plan (MTP).
Sales and profit grew in all segments, on sales growth from an expanded product lineup and increased sales of higher-priced products. We are forecasting continued growth in consolidated sales and profit in all segments again in 2015, the final year of the current MTP.
Unit sales in developed markets rose in 2014, as total demand bottomed out and new products were launched. In emerging markets, unit sales rose in India on an increase in total demand and new product introductions. ASEAN markets saw a decline in unit sales, however, owing to a drop in total demand ahead of new product launches. This resulted in a slight decline in overall unit sales.
Progress was made in expanding the customer base and shifting the business model toward higher profitability by leveraging Yamaha’s brand strength, including its comprehensive business capabilities, reliability and network.
Cost reductions during fiscal 2014 totaled ¥14.4 billion, surpassing our target of ¥10.0 billion. We will continue to reduce costs during fiscal 2015, to achieve the targets set in the MTP.
Of the 250 new products scheduled for release by 2015, 63% were launched during 2013?2014, and we expect to reach 100% in 2015.
