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Yamaha Motor Co., Ltd. (the "Company")
has revised its forecast consolidated and non-consolidated
financial results for fiscal 2008 (January 1,
2008 through December 31, 2008). The original
forecasts were released on February 5, 2008.
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| 1. |
Revised Forecast Consolidated and Non-consolidated
Financial Results for the Fiscal Year Ending
December 31, 2008 |
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| 1) |
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Revised forecast consolidated financial results
for fiscal 2008
(January 1, 2008 through December 31, 2008) |
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| Millions of yen |
| |
Net sales |
Operating
income |
Ordinary
income |
Net income |
Previous forecasts (A)
(released February 5, 2008) |
1,830,000 |
103,000 |
110,000 |
59,000 |
| Revised forecasts (B) |
1,720,000 |
78,000 |
92,000 |
45,000 |
| Amount of change (B-A) |
-110,000 |
-25,000 |
-18,000 |
-14,000 |
| Ratio of change [(B-A)/A] (%) |
-6.0% |
-24.3% |
-16.4% |
-23.7% |
(Reference)
Results for the fiscal year
ended December 31, 2007 |
1,756,707 |
126,998 |
140,338 |
71,222 |
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| 2) |
|
Revised forecast non-consolidated financial results
for fiscal 2008
(January 1, 2008 through December 31, 2008) |
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| Millions of yen |
| |
Net sales |
Operating
income |
Ordinary
income |
Net income |
Previous forecasts (A)
(released February 5, 2008) |
790,000 |
1,500 |
17,000 |
12,000 |
| Revised forecasts (B) |
750,000 |
-21,000 |
17,000 |
12,000 |
| Amount of change (B-A) |
-40,000 |
-22,500 |
0 |
0 |
| Ratio of change [(B-A)/A] (%) |
-5.1% |
- |
0% |
0% |
(Reference)
Results for the fiscal year
ended December 31, 2007 |
799,209 |
21,686 |
27,012 |
18,833 |
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| 2. |
Main Reasons for the Revision |
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Business conditions surrounding the Yamaha Motor group remain worrisome, amid a worldwide economic slowdown resulting mainly from the worsening financial crisis in the United States, and high crude oil and raw material prices.
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In this environment, demand for
motorcycles in Japan and Europe is projected
to decrease in 2008, while in North America the
demand is forecast to remain about the same as
2007. Meanwhile, demand for motorcycles in Asia
(excluding Japan) is expected to continue its
mild expansion. In the marine product segment,
demand for outboard motors in Europe and the
United States is projected to decline. In the
power product segment, demand for all-terrain
vehicles in Europe and the United States is also
forecast to decrease. Surface mounters are likewise
predicted to suffer decreased demand. In addition
to these prospects, other negative factors likely
impacting the Company's profitability on
a non-consolidated basis include shrinking demand
in advanced nations; soaring raw material prices;
and adjustments in production of the Company's
mainstay products for export to advanced nations.
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Factoring in all these elements, the Company has revised forecast consolidated and non-consolidated financial results for the fiscal year ending December 31, 2008 as shown in the table above.
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The forecast is based on the
assumption that one U.S. dollar and one euro
will equal ￥105 and ￥158, respectively.
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