News Release

Yanmar Announces FY2020 Financial Results

June 1, 2021
Yanmar Holdings Co., Ltd.

June 1st, 2021 Osaka, Japan - Yanmar Holdings Co., Ltd. has announced its financial results for the period ending March 31st, 2021.

Consolidated Group Results for FY2020

Consolidated results for the 2020 fiscal year saw a 1.7% fall in revenue to 782.3 billion JPY with ordinary income doubling on the previous year to 31.7 billion JPY.

Fiscal 2020 consolidated results (April 1st 2020 to March 31st, 2021)

(Units: million JPY, vs previous year)

  Revenue Operating Income Ordinary Income Net Profit
  vs previous year   vs previous year   vs previous year   vs previous year
FY2020 782,368 -1.7% 21,644 57.8% 31,778 101.9% 18,323 -
FY2019 795,494 -0.1% 13,712 69.2% 15,738 12.9% 913 -56.9%

By implementing strict measures against the coronavirus pandemic at manufacturing sites, Yanmar was able to ensure continuation of business operations. New work practices such as working from home, resulted in increased productivity which, together with cost savings through structural reforms, achieved a substantial increase in profits. In particular, continuing structural reforms at the agricultural business underpinned strong performance in the domestic Japan, China and North American markets for increased revenue and profitability, contributing to overall Group business performance. Furthermore, signs of a global recovery in the construction equipment business, evident from the second half of the fiscal year, bolstered business performance. However, considerable regional variations in the state of recovery from the coronavirus pandemic hampered the engine and related machinery business with both revenue and profit lagging, making FY2020 a year of continuing structural reforms towards establishing a firm foundation for future business growth.

Consolidated business outlook for FY2021

Throughout the Yanmar Group, activities towards structural reform for improved profitability will continue. At the same time, transfer of authority to local companies will speed business activities, while the establishment of divisions for implementation of digital strategies will serve to strengthen Group cohesion. In addition, Yanmar will strengthen activities towards a carbon-free future by accelerating development of the company’s hydrogen fuel cell system for marine applications.

On the basis of these activities, Yanmar expects operating income of 24 billion JPY (up 11.1% on FY2020) and ordinary income of 27 billion JPY (down 14.9%) on revenue of 810 billion JPY (up 3.5%), with income attributable to new company holdings contributing 16.5 billion JPY (down 9.9%).

Consolidated business outlook for FY2021 (April 1st, 2021 to March 31st, 2022)

(percentages indicate change on the previous fiscal year)

Revenue Operating Income Ordinary Income Income attributable to new company holdings
million yen million yen million yen million yen
810,000 3.5 24,000 11.1 27,000 -14.9 16,500 -9.9

Forecasts are based on exchange rates of USD1 = JPY108; EUR1 = JPY130.

About Yanmar

With beginnings in Osaka, Japan in 1912, Yanmar was the first ever to succeed in making a compact diesel engine of a practical size in 1933. Moving on, with industrial diesel engines as the cornerstone of the 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, 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,” stands testament to Yanmar’s determination to provide us with “A Sustainable Future”. For more details, please check out the official website of Yanmar Co., Ltd.

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