(RTTNews) - Yamaha Motor Co. (YAMHF.PK) Thursday reported that its fiscal 2016 net income attributable to parent company shareholders rose 5.2 percent to 63.2 billion yen. The company attributed the increase to business expansion in emerging markets and improved profitability in various business sectors.
Operating income for the year, however, slid 16.7 percent to 108.6 billion yen, citing negative foreign exchange effects, increased expenses and other factors.
For the fiscal year 2016, net sales decreased 7.9 percent to 1.502 trillion yen.
Excluding foreign exchange effects, operating income rose by 16.9 percent and net sales increased by 1.8 percent, the company said.
Looking ahead, for fiscal 2017, the company forecasts net income to grow 18.8 percent to 75.0 billion yen and net sales to rise 6.5 percent to 1.600 trillion yen.
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