Yanmar Announces Financial Results

A few days ago Yanmar Holdings has announced its interim consolidated financial results for the first half of fiscal year 2021. Here you find last year’s results.

Financial results for the first half of 2021

For the current interim consolidated accounting period, net sales were 418.7 billion JPY, a 16.3% increase from the same period last year (Yanmar’s financial year accounting period is April 1^st to March 31^st). Ordinary income was 24.5 billion JPY, a 103.3% increase from the same period last year. Both sales and profits increased in the first half of the fiscal year due to sales growth mainly outside Japan and the promotion of company-wide cost structure reforms. In the Japanese market, increased demand for small and medium-sized marine engines and proactive digital campaigns in the agribusiness contributed to improved business performance. Outside Japan, increased orders in the industrial engine business for North America, Europe and China, as well as in the construction machinery and marine businesses for Europe, contributed to the growth in business performance.

Full-year forecast for 2021

In the second half of the fiscal year, although business performance is forecasted to be affected by shortages in the supply of parts and an increase in logistics and raw material costs, Yanmar plans to maintain momentum by continuing implementation of cost structure reforms, improving operational efficiency through the use of digital tools, and expanding the business outside Japan. Therefore, the company has revised upward its consolidated business forecast for the current fiscal year announced on June 1, 2021, and revised net sales and ordinary income upward to 850 billion yen and 35 billion yen, respectively.