Yamaha Motor: Effects of COVID-19 (Novel Coronavirus)
April 24, 2020
IWATA, April 24, 2020 —Yamaha Motor Co., Ltd. (Tokyo: 7272) is working based on the policies laid out by respective governments to prevent the spread of COVID-19, with the health and safety of customers, members of local communities, and employees as its highest priority. Based on the requests and guidance from the respective central and local governments of the countries which the Company operates in, Yamaha Motor is also taking steps to minimize the effects of the pandemic on its businesses.
1. Effects on production and sales
The operating status of the Yamaha Motor Group is as follows: (As of April 23, 2020)
| Regions | Locations | Suspension periods |
|---|---|---|
| Japan | Motorcycles and motorcycle components production locations | All 11 business days excluding the Golden Week holiday period and weekends from May 1 to May 22 |
| Outboard motor production locations | All 27 business days excluding the Golden Week holiday period and weekends from May 1 to June 15 | |
| U.S.A. | Golf Car, WV, ATV, ROV and Boat production and development locations | From March 19 to May 3 |
| Europe | Motorcycles, motorcycle engines and Outboard motor production locations | From March 16 onwards |
| Asia Indonesia Thailand Philippine India |
Motorcycles and motorcycle components production locations | From April 3 to May 3 From April 13 to May 10 From March 17 to May 10 From March 23 to May 3 |
| Central and South America | Motorcycles, motorcycle components and Outboard motor production locations | From March 31 to April 29 |
WV = Water Vehicle
ATV＝All Terrain Vehicle
ROV=Recreational Off-highway Vehicle
2. Notifications regarding the Revision of Forecast Business Results and Dividends from Surplus
Yamaha Motor hereby announces that the Company has determined at a Board of Directors meeting to revise as follows the forecast consolidated business results and forecast dividends from surplus for the fiscal year ending December 31, 2020 announced on February 12 this year.
(1) Revised Forecast Consolidated Business Results for the Fiscal Year from January 1, 2020 through December 31, 2020
| Net Sales | Operating Income |
Ordinary Income |
Net Income Attributable to Owners of Parent |
Net Income per Share |
|
|---|---|---|---|---|---|
| Original Forecast (A) (Announced February 12, 2019) |
Billion Yen |
Billion Yen |
Billion Yen |
Billion Yen |
Yen (fractions) |
| New Revised Forecast (B) | undetermined |
undetermined |
undetermined |
undetermined |
- |
| Amount of Change (B-A) | - |
- |
- |
- |
|
| Percentage Change [(B-A)/A] |
- |
- |
- |
- |
|
| Results for Previous Fiscal Year (Year ended December 31, 2019) |
1,664.764 |
115.364 |
119.479 |
75.736 |
216.83 |
(2) Revised Forecast Dividends from Surplus for the Fiscal Year from
January 1, 2020 through December 31, 2020
| End Q2 | End of FY | Total | |
|---|---|---|---|
| Original Forecast (Announced February 12, 2019) |
Yen fractions |
Yen fractions |
Yen fractions |
| New Revised Forecast | undetermined |
undetermined |
undetermined |
| Results for Current Fiscal Year | - |
- |
- |
| Results for Previous Fiscal Year (Year ended December 31, 2019) |
45.00 |
45.00 |
90.00 |
(3) Reasons for Revision of Forecast Business Results and Dividends from Surplus
The COVID-19 (novel coronavirus) pandemic has spread in Japan and throughout the world, and the prospects for the ending of it are unclear. In addition, the governments of many countries around the world have taken actions in response such as issuing shelter in place orders. With regard to the consolidated business results for the fiscal year ending December 31, 2020, a consequent decrease in net sales is anticipated, but estimating forecast business results and forecast dividends from surplus is problematic in the current circumstances. Thus, the forecast business results announced on February 12, 2020 are being retracted, and are currently listed as undetermined. Yamaha Motor will therefore make a new announcement when making projections becomes possible.
3. Notifications regarding the Postponement of the Business Results Announcement for the First Quarter of the Fiscal Year 2020
Due to the effect of the COVID-19 (novel coronavirus) pandemic, delays have occurred in the business results and audit processes at overseas consolidated subsidiaries. The date of announcement of the business results for the consolidated accounting period for the first quarter of the fiscal year ending December 31, 2020 (January 1, 2020 through March 31, 2020) is therefore being postponed from the originally-scheduled May 13, 2020 to May 29, 2020.
