Yamaha Motor Corp reported sales of ¥284.4bn (US$3.53bn) for its first quarter ended March 31, 2011, down one per cent compared to the same period a year ago. Its net income fell 14.3 per cent to ¥11.5bn (US$143m).
Sales in its marine division rose 7.8 per cent from the year-ago quarter to ¥54.6bn (US$679m). Operating income was up only 0.6 per cent, largely due to yen appreciation, the company said in a statement.
Unit sales of outboard motors and personal watercraft increased in the USA, as the economic recovery takes hold. The company said that demand for outboard motors continued to increase in Russia, Central and South America as well as Asia.