Yanmar Announces Financial Results for the First Half of FY2020
November 24, 2020
Yanmar Holdings Co., Ltd.
OSAKA, Japan (November 25, 2020), Yanmar Holdings today announced its interim consolidated financial results for the first half of FY2020*.
Consolidated Results for The First Half of FY2020 (millions JPY)
|Revenue||Operating Income||Ordinary Income||Net Profit|
(% indicates percentage increase/decrease from previous year)
The global economy in the first half of FY 2020 was extremely challenging due to the global recession caused by the spread of COVID-19 infection. Although some markets are recovering, economic uncertainty continues due to successive waves of infection.
In the Japanese market, Yanmar’s agricultural business revenue decreased in response to the consumption tax hike of the previous year. Revenues of the construction machinery and energy systems businesses also decreased due to sluggish capital investment.
Outside Japan, sales for Yanmar’s agricultural business increased in the East Asian region where some countries have managed to control the spread of COVID-19. Sales for the construction machinery business increased due to the acquisition of ASV last year, but sales in the industrial engine business and component business decreased due to sluggish markets in Europe and North America. As a result, gross sales and operating of the Yanmar group income decreased.
*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.
- Note: Information contained in the news release is valid at the time of publication and may differ from the most recently available information.