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Yamaha Motor Slips To Q1 Loss; Sees Profit In FY, Declares Dividend; Stock Up

(RTTNews) - Yamaha Motor Co. (YAMHF.PK) reported Tuesday that its first-quarter loss attributable to owners of the parent was 1.81 billion yen, compared to prior year's profit of 7.29 billion yen. Basic loss per share was 10.29 yen, compared to profit of 40.80 yen last year.

Operating loss for the period was 1.51 billion yen, compared to prior year's profit of 11.13 billion yen. Core operating profit plunged 89.5 percent from last year to 1.19 billion yen.

Revenue for the quarter decreased 27.9 percent to 71.79 billion yen from 99.52 billion yen a year ago.

For the fiscal year ending March 31, 2021, Yamaha expects profit attributable to owner of the parent of 16 billion yen or 91.01 yen per share, down 53.8 percent from last year. Operating profit would be 22.5 billion yen, down 48.1 percent, core operating profit would be 25 billion yen, down 46.1 percent and revenue would be 355 billion yen, down 14.3 percent.

The outlook for the future impact of the COVID-19 pandemic to the company continues to be highly uncertain, but it is assumed to gradually improve from the third quarter of the fiscal year.

The outlook was undecided in its previous report issued on May 26 due to the high uncertainty concerning the impact of the COVID-19.

Further, the company plans dividend of 33 yen per share for the end of the second quarter and 66 yen per share for full fiscal year, same as last year.

In Japan, Yamaha Motor shares traded at 1,681 yen, up 6.26 percent.

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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