Yanmar Announces Financial Results for the First Half of FY 2019
December 5, 2019
Yanmar Holdings Co., Ltd
OSAKA, Japan (December 5, 2019), Yanmar Holdings today announced its interim consolidated financial results for the first half of FY2019* as well as a full-year forecast as follows.
Financial Results for the first half of FY 2019
For the current interim consolidated accounting period, gross sales were 404.3billion JPY, a 6.6% increase from the same period last year. Ordinary income was 11.3 billion JPY, an 82% increase from the same period last year.
The company showed the steady performance in the Japanese market thanks to last-minute demand of agricultural business prior to the increase in consumption tax. The energy management business also marked the positive growth due to increased demand for school air conditioning units, as well as a heightened awareness of disaster prevention leading to increased demand for generators.
In overseas markets, sales of agribusiness declined due to deteriorating market conditions in China, Thailand, and Indonesia. However, the industrial engine business performed well in North America, Europe, and China, and the construction machinery business also saw an upturn due to increased housing construction in North America.
Full-year Forecast for FY 2020
Despite the strong performance in the first half, slow demand in China, Thailand, and Indonesia, which are key regions for the agribusiness, is expected to be lower than the initial forecast made at the beginning of the year. Therefore, the company revised the forecast for the fiscal year of 2019 with the projected gross sales of 816.3 billion JPY, and the ordinary income of 12 billion JPY.
- *Yanmar’s financial year accounting period is April 1st to March 31st.
With beginnings in Osaka, Japan, in 1912, Yanmar was the first to succeed in making a compact diesel engine of a practical size in 1933. Then, with industrial diesel engines as the cornerstone of its enterprise, Yanmar has continued to expand its product range, services, and expertise to deliver total solutions as an industrial equipment manufacturer. As a provider of small and large engines, agricultural machinery and facilities, construction equipment, energy systems, marine equipment, machine tools, and components, Yanmar’s global business operations span seven domains.
On land, at sea, and in the city, Yanmar’s mission of "providing sustainable solutions focused on the challenges customers face, in food production and harnessing power, thereby enriching people's lives for all our tomorrows" is a testament to Yanmar's determination to provide us with "A Sustainable Future." For more details, please visit the official website of Yanmar Co., Ltd.,:https://www.yanmar.com/global/about/
- Note: The contents of this news release reflect what was mentioned in the press announcement. Please be aware that the contents of this release may differ with new information and developments.