Yamaha Motor FY23 Net Profit Down, Operating Income Rises; Sees Higher Results In FY24

(RTTNews) - Japanese automobile major Yamaha Motor Co., Ltd. (YAMHY.PK) reported Wednesday that its fiscal 2023 net income attributable to owners of parent fell 6 percent to 164.1 billion Japanese yen from last year's 174.4 billion yen.

However, operating income was 250.7 billion yen, an increase of 11.5 percent, and ordinary income was 242.0 billion yen, an increase of 1.1 percent from the prior year.

Net sales were 2.42 trillion yen, up 7.4 percent from previous fiscal year's 2.25 trillion yen. The growth in sales reflected healthy demand for motorcycles and large outboard motors, as well as increased supply volumes resulting from supply chain operations returning to normal, and improvements with logistics, production issues, and other areas.

Looking ahead for fiscal 2024, the company expects net income of 175 billion yen, operating income of 260 billion yen, and net sales of 2.60 trillion yen.

Further, a final dividend of 72.5 yen per share is planned to be placed on the agenda of its next Ordinary General Meeting of Shareholders, scheduled for March 21, 2024. This gives a total dividend for the year of 145 yen per share.

In Japan, Yamaha Motor shares closed Wednesday's regular trading at 1,438 yen, down 2.18 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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