Yanmar Announces Fiscal 2011 Business Results and Fiscal 2012 Forecast
June 20, 2012
Yanmar Co., Ltd.
1. Fiscal 2011 Results:
With the realization that the countries of Europe are out of step in their efforts to come to terms with the credit crisis that has swept the continent, growth among developed countries has stagnated. In emerging countries, a slowdown in exports and an increase in the cost of goods together with monetary tightening have led to a drop in growth and a slower recovery.
In Japan, recovery of the supply chain after the Great East Japan Earthquake was more rapid than anticipated. With the ongoing appreciation of the yen, there has been little improvement in exports, and the economy continues to stagnate. Hopes for improvement in economic conditions in the short to medium term rest with growth in North America and domestic demand in the Asian emerging economies. However, with the emergence of a new threat in the form of the credit crisis in Europe, as well as exchange rate fluctuations, the rising cost of oil, and the uncertainty raised by the advent of new governments, risk remains high.
Amidst this uncertainty, in March of this year, the Yanmar Group celebrated the centennial of its founding, marking the occasion with the creation of a new Mission Statement. On the basis of providing enhanced solutions that closely reflect customer needs, we look towards the next 100 years of operations as we begin a new chapter in Yanmar's history. As a Group, we are working towards: "Transforming Towards a System Structure that Ensures Profitability" and "Strengthening Global Competitiveness towards Sustained Growth", to ensure steady implementation of our 2015 Midterm Business Strategy.
In this regard, fiscal 2011 consolidated Group results indicate Net Sales of ¥551.1 billion, up 10.4% on fiscal 2010. Ordinary Profit came in at ¥22.1 billion, an increase of 28.6% on the previous year. Return on Sales (ROS) reached 4.0%. Net Profit for the period increased 77.1% on fiscal 2010 to ¥12.1 billion.
Net Sales outside Japan also rose 11.3% to ¥227.1 billion, making up 41.2% of Consolidated Group Net Sales.
2. Fiscal 2012 Forecast:
Currently, Consolidated Group Net Sales are forecast to increase 0.5% to ¥553.7 billion, Operating Profit 22.7% to ¥27.6 billion, Ordinary Profit 14.1% to ¥25.3 billion with Net Profit expected to come to ¥14.0 billion, over the period.
Note: Information contained in News Releases is used in press conferences and may differ from the most recently available information.
Public Relations Group,
General Affairs Dept., Yanmar Co., Ltd.