Yamaha Motor May Post Operating Loss as Motorcycle Demand Drops
Yamaha Motor Co., the world's second- largest motorcycle maker, may post an operating loss this fiscal year as demand for its vehicles drops.
Yamaha spokesman Takashi Kitagawa declined to confirm or deny a Nikkei newspaper report that said the company will likely post its first operating loss since 1983 in the fiscal year ending in December. The report cited an unidentified company official.
Yamaha, the maker of Royal Star Venture motorcycles, is losing customers in North America and Europe as rising unemployment forces people to spend less on leisure goods. The yen's gains against foreign currencies have also eroded the value of overseas sales, prompting Yamaha to cut executive salaries by as much as 20 percent from February to December.
The company is expected to post a net loss of 16.5 billion yen ($180 million), according to the median estimate of nine analysts surveyed by Bloomberg.
Yamaha is scheduled to announce full-year earnings and its current year forecast on Feb. 12. The motorcycle maker posted its first quarterly loss in at least four years in the quarter ended Dec. 31, according to Bloomberg calculations of preliminary full-year numbers reported by the company on Jan. 28.
Source: http://www.bloomberg.com/ap...
issued: Tuesday, February 10, 2009
updated: Tuesday, February 10, 2009
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