Yamaha Motor Reports 5% Drop In Net Profit, Raises Full-Year Net Profit Forecast

Yamaha Motor Co YAMHY reported a 5% decline in its net profit for the April-June quarter. Yamaha Motor reported a quarterly net profit at Y15.5 billion, down from Y16.3 billion, in the year-ago quarter. Its sales dropped 6% y/y to Y344.5 billion from Y366.3 billion. For the full year, Yamaha Motor lifted its net profit forecast to Y35 billion, up from its earlier estimate of Y20 billion.