IWATA, JAPAN – April 24, 2020 – (Motor Sports NewsWire) – Yamaha Motor Co., Ltd. (Tokyo: 7272) is working based on the policies laid out by respective governments to prevent the spread of COVID-19, with the health and safety of customers, members of local communities, and employees as its highest priority. Based on the requests and guidance from the respective central and local governments of the countries which the Company operates in, Yamaha Motor is also taking steps to minimize the effects of the pandemic on its businesses.
1. Effects on production and sales
The operating status of the Yamaha Motor Group is as follows: (As of April 23, 2020)
WV = Water Vehicle
ATV＝All Terrain Vehicle
ROV=Recreational Off-highway Vehicle
2. Notifications regarding the Revision of Forecast Business Results and Dividends from Surplus
Yamaha Motor hereby announces that the Company has determined at a Board of Directors meeting to revise as follows the forecast consolidated business results and forecast dividends from surplus for the fiscal year ending December 31, 2020 announced on February 12 this year.
(1) Revised Forecast Consolidated Business Results for the Fiscal Year from January 1, 2020 through December 31, 2020
(2) Revised Forecast Dividends from Surplus for the Fiscal Year from January 1, 2020 through December 31, 2020
(3) Reasons for Revision of Forecast Business Results and Dividends from Surplus
The COVID-19 (novel coronavirus) pandemic has spread in Japan and throughout the world, and the prospects for the ending of it are unclear. In addition, the governments of many countries around the world have taken actions in response such as issuing shelter in place orders. With regard to the consolidated business results for the fiscal year ending December 31, 2020, a consequent decrease in net sales is anticipated, but estimating forecast business results and forecast dividends from surplus is problematic in the current circumstances. Thus, the forecast business results announced on February 12, 2020 are being retracted, and are currently listed as undetermined. Yamaha Motor will therefore make a new announcement when making projections becomes possible.
3. Notifications regarding the Postponement of the Business Results Announcement for the First Quarter of the Fiscal Year 2020
Due to the effect of the COVID-19 (novel coronavirus) pandemic, delays have occurred in the business results and audit processes at overseas consolidated subsidiaries. The date of announcement of the business results for the consolidated accounting period for the first quarter of the fiscal year ending December 31, 2020 (January 1, 2020 through March 31, 2020) is therefore being postponed from the originally-scheduled May 13, 2020 to May 29, 2020.
Source: Yamaha Motor Co., Ltd.