Yamaha Motor Corporation has announced its new medium-term development plan for the coming three years.
The company revealed that the marine division would be aiming to increase the range of value it offers and to maintain as well as strengthen its high profit structure.
Furthermore, in order to enhance business competitiveness, Yamaha plans to bolster its line-up of large outboards, raise their sales ratio, and increase production capacity.
Yamaha also said it intends to strengthen the research and marine development role of the US market to expedite the development of connected systems and technologies. Yamaha’s declared goal is to drive the marine divisions CASE strategy to offer customers marine lifestyles with greater comfort and peace of mind.
At the same time as presenting its medium-term objectives for the marine division, Yamaha gave details of the divisions results for the year ended December 31, 2021.
Net sales were ¥391.1bn, an increase of ¥62.8bn or 19.1% compared with the previous year and operating income was ¥76.8bn, an increase of ¥26.2bn or 51.7%.
Demand for large outboard engines is reported to have remained firm in developed markets while demand recovered in emerging markets. The global shipping container shortage is still causing Yamaha delays in transporting product. However, the company states that increased production numbers has improved its product supply and increased unit sales. Also, boat and personal watercraft unit sales are reported to have increased due to progress with measures to counter parts procurement delays. As a result, sales and profits increased across the marine business as a whole with sales up 19.1% and operating income up by 51.7%.
