Yamaha Motor Integrated Report 2020

Management Discussion and Analysis of Operations Performance by Business Segment Land Mobility SegmentIn this segment, net sales declined ¥17.3 billion, or 1.6%, to ¥1,100.4 billion, while operating income fell ¥6.9 billion, or 14.1%, to ¥41.8 billion.In developed markets, sales of motorcycles decreased ¥5.2 billion, or 2.3%, to ¥223.1 billion, and the operating income margin was -6.4%, a 1.6 percentage point improvement from the previous fiscal year. Overall demand increased in Europe, was unchanged year on year in North America, and declined slightly in Japan. Yamaha Motor was able to reduce losses through restruc-turing, while sales volume grew, mainly for models compliant with new emissions standards in Europe. In emerging markets, sales of motorcycles decreased ¥19.4 billion, or 2.5%, to ¥755.7 billion, and the operating income margin worsened 1.7 percentage points, to 6.9%. Demand strengthened in Brazil, the Philippines, and Taiwan. Demand for electric scooters rose strongly in Taiwan as a result of government subsidies, but demand for gasoline models declined. In other regions, overall demand fell in India, Indonesia, Vietnam, and Thailand. At Yamaha Motor, sales volume increased for high-priced models in Indonesia, and sales volume also expanded in the Philippines and Brazil, but decreased in Vietnam, India, and Taiwan, resulting in weaker sales and profits overall. Total sales of motorcycles was 5.9% lower than the previ-ous fiscal year, at 5.06 million units. In developed markets, the Company restructured operations and proactively introduced models compliant with new standards. In emerging markets, while focusing efforts on the sale of high-value-added products, Yamaha Motor aims to improve profitability and expand sales volume in each market by strengthening its brand power in Vietnam, launching models compatible with new standards in India, and increasing sales of electric motorcycles in Taiwan.In recreational vehicles (ATVs, ROVs, and snowmobiles), net sales increased ¥1.3 billion, or 1.7%, to ¥77.5 billion, and the operating income margin improved 4.0 percentage points, to -3.3%. In North America, losses narrowed on higher sales of ATVs and snowmobiles.In electrically power-assisted bicycles, net sales grew ¥6.1 billion, or 15.9%, to ¥44.1 billion, while the operating income margin worsened by 0.7 percentage point, to 14.6%. Growth in sales and profits was driven by stronger sales of E-kit (drive unit for electrically power-assisted bicycles) in Europe and higher sales volume in Japan. Yamaha Motor aims to expand business in growing markets by enhancing its sales capabilities and launching newly developed models with assistance controls.Marine Products SegmentIn the Marine Products segment, net sales increased ¥6.9 billion, or 2.0%, to ¥345.1 billion, while operating income decreased ¥2.4 billion, or 3.9%, to ¥58.4 billion. Worldwide, demand decreased for outboard motors, which make up the bulk of sales in the segment, but demand continued to shift toward more powerful outboard motors in North America and Europe, which are key markets for the Company’s outboard motors.At Yamaha Motor, sales volume increased in North America and Europe for high-end outboard motor models with 200+ horsepower. Due to unfavorable weather in freshwater environ-ments during the first half of the fiscal year under review, how-ever, sales declined for mid-range and smaller horsepower models. Overall sales volume was down as a result. Meanwhile, sales volume grew in water vehicles and sport boats. Foreign exchange rates also had a major impact, leading to higher sales but lower profits in the segment.While rapidly and flexibly responding to market trends, the Company is advancing a system supplier strategy and strengthen-ing relationships with boat builders.Products and Services in Each SegmentSegmentMain products and servicesLand MobilityMotorcycles, intermediate parts for products, knockdown parts for overseas production, all-terrain vehicles, recreational off-highway vehicles (ROVs), snowmobiles, and electrically power assisted bicyclesMarine ProductsOutboard motors, personal watercraft, boats, FRP pools, fishing boats, and utility boatsRoboticsSurface mounters, semiconductor manufacturing equipment, industrial robots, and industrial-use unmanned helicoptersFinancial ServicesSales finance and lease related to the Company’s productsOthersGolf cars, generators, multi-purpose engines, small-sized snow blowers, automobile engines, automobile components, and electrically powered wheelchairsFacts and Data82Yamaha Motor Co., Ltd. Integrated Report 2020

元のページ  ../index.html#84