Market Overview

Yamaha Motor Earnings Continue to Rise in Second Quarter

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Strong growth in net sales of major product categories

Yamaha
Motor Co., Ltd
. (TYO:7272)(PINX:YAMHF) announced today that
in the first half of its fiscal year ending December 31, 2018,
consolidated net sales of 851.3 billion yen were up 2.8% from the
previous year. The company achieved all-time highs in operating income
of 82.2 billion yen (up 0.1%), however saw a 5% decrease in ordinary
income to 79.3 billion yen and 6.3% decrease in net income for the
period attributable to parent company shareholders to 57.0 billion yen.

Net sales increased thanks to healthy results in the emerging markets
motorcycle business, the marine business, and the industrial machinery
and robots business.
Operating income increased on the back of
motorcycle product mix improvements in emerging markets and the
industrial machinery and robots business absorbing decreased income in
the developed markets motorcycle business.

Motorcycle net sales rose 3.7%, supported by strong business results in
emerging markets, and operating income increased by 4.3% thanks to high
profitability in the ASEAN region. Marine business net sales rose 5.9%
on the back of strong water vehicle sales in North America, with
operating income rising by 12.8%. Power products increased 6.5%, while
industrial machinery and robots soared 33.2% thanks to surface mounter
and robot unit sales.

For the year, Yamaha Motor forecasts net sales rising 1.8% to 1,700.0
billion yen, operating income rising 0.1% to 150.0 billion yen, and net
income attributable to parent company shareholders rising 1.4% to 103
billion yen. These figures have not changed from initial forecasts. The
full-year dividend forecast also remains at 90 yen.

About Yamaha Motor
Yamaha Motor (TYO:7272) is a
world-leading producer of motorcycles, marine products, power products
and intelligent machinery. The company's diverse business and wide
variety of products are built around its proprietary technologies
focused on engines, chassis & hull and electronic control. Yamaha Motor
conducts global development, production and marketing operations through
140 subsidiaries and equity-method affiliates in 30 countries. About 90%
of consolidated net sales are generated in more than 200 countries
outside of Japan. The company is steadily restructuring its global
engineering, manufacturing and marketing capabilities for sustainable
long-term growth. Please visit https://global.yamaha-motor.com/ir/report/.

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