Japan's Yamaha Motor warns of deeper full-year loss | The Daily Star
11:00 PM, August 04, 2009 / LAST MODIFIED: 11:00 PM, August 04, 2009

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Japan's Yamaha Motor warns of deeper full-year loss

Japan's Yamaha Motor Co. said Tuesday its loss in 2009 would be more than four times bigger than previously expected because of sluggish motorcycle sales and a strong yen.
Yamaha forecast a net loss of 182 billion yen (1.9 billion dollars) for its business year through December, the first such shortfall in 26 years. Previously it had expected to sink 42 billion yen in the red.
It widened its operating loss forecast to 87 billion yen from 30 billion yen and trimmed its revenue target to 1.1 trillion yen from 1.25 trillion yen.
While Asian sales have been relatively robust, demand for motorcycles and other key products has been sluggish in Europe and the United States, "with no sign of recovery in sight," Yamaha said in a statement.
"In addition, the yen is persistently strong against the US dollar," eating into overseas earnings, it said. "These negative factors have created very harsh business conditions."
Yamaha had been enjoying record sales until the economic crisis hit demand for its products, which also include boat engines and all-terrain vehicles.
The group said it aimed to swing back to an operating profit in 2010 through cost cuts and streamlining of manufacturing facilities.

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