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Yamaha Motor Co., Ltd. has revised its forecast consolidated business results for the six months ended June 30, 2010 and for the full fiscal year ending December 31, 2010. Both forecasts were originally released on February 12, 2010.
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| 1. |
Revised forecasts for the fiscal year ending December 31, 2010 |
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| 1) |
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Revised forecast consolidated business results for the six months ended June 30, 2010 (January 1 through June 30, 2010) |
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(Millions of yen, except percentage change [%] and income per share [yen]) |
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Net sales |
Operating
income
(loss) |
Ordinary
income
(loss) |
Net
income
(loss) |
Net
income per
share |
Original forecast (A)
(Released February 12, 2010) |
625,000 |
2,000 |
2,000 |
(2,500) |
(8.74) |
Revised forecast (B) |
676,166 |
35,030 |
43,808 |
23,776 |
76.68 |
Amount of change (B-A) |
51,166 |
33,030 |
41,808 |
26,276 |
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Percentage change [(B-A)/A] |
8.2% |
- |
- |
- |
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Results for the six months ended June 30, 2009 |
579,393 |
(33,827) |
(36,882) |
(74,712) |
(261.21) |
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| 2) |
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Revised forecast consolidated business results for the full fiscal year ending December 31, 2010 (January 1 through December 31, 2010) |
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(Millions of yen, except percentage change [%] and income per share [yen]) |
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Net sales |
Operating
income
(loss) |
Ordinary
income
(loss) |
Net
income
(loss) |
Net
income per
share |
Original forecast (A)
(Released February 12, 2010) |
1,250,000 |
10,000 |
10,000 |
0 |
0 |
Revised forecast (B) |
1,300,000 |
45,000 |
55,000 |
25,000 |
75.81 |
Amount of change (B-A) |
50,000 |
35,000 |
45,000 |
25,000 |
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Percentage change [(B-A)/A] |
4.0% |
350.0% |
450.0% |
- |
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Results for fiscal 2009 |
1,153,642 |
(62,580) |
(68,340) |
(216,148) |
(755.92) |
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| 2. |
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Main reasons for the upward revisions |
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| 1) |
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Upward revision of forecast consolidated business results for the six months ended June 30, 2010 |
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Forecast consolidated business results for the six months ended June 30, 2010 exceeded the original forecasts officially announced on February 12, 2010. This was mainly attributable to robust motorcycle sales in the ASEAN region, outboard motor sales in the United States and surface mounter sales in China - all of which surpassed the original forecasts - combined with gains from exchange translation between the yen and the currencies of emerging nations, and reductions in expenses. |
| 2) |
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Upward revision of forecast consolidated business results for the full fiscal year ending December 31, 2010 |
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With the yen expected to remain strong against major currencies and raw material prices likely to rise higher, sales of motorcycles, all-terrain vehicles and other products in Europe, the United States and other developed nations are forecast to fall below the originally announced figures. On the other hand, motorcycle sales in ASEAN countries and other emerging nations are projected to rise above the original forecasts. Meanwhile, further reductions in expenses are anticipated. Together with the gains in emerging markets, this is expected to raise consolidated business results for the full fiscal year ending December 31, 2010 beyond the original forecasts. |
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Exchange rates projected for the second half-year are 85 yen against the U.S. dollar (an appreciation of 3 yen from the original projection and 7 yen from the previous second half-year) and 108 yen against the euro (an appreciation of 20 yen from the original projection and 25 yen from the previous second half-year). For the full fiscal year, the projected rates are 88 yen against the U.S. dollar (same as the original projection, and an appreciation of 6 yen from the previous year) and 115 yen against the euro (an appreciation of 13 yen from the original projection and 15 yen from the previous year).
Revised forecasts for net income per share for the six months ended June 30, 2010 and the full fiscal year ending December 31, 2010 are computed based on the number of shares outstanding at the end of the period. These include new shares issued to increase capital on April 20 (55,000,000 shares) and May 11 (8,250,000 shares).
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