[Company analysis] Yamaha Motor Corporation (ヤマハ発動機)

「Yamaha Motor Corporation (ヤマハ発動機)」manufactures motorcycles and other transportation-related products. In the motorcycle business, they has 2nd largest sales in the world after「Honda Motor」, and in the field of outboard motors and water vehicles, they got the top market share in the world. In addition, this company is famous for its business diversification strategy based on small engine technology and processing technology. The number of consolidated employees is approximately 53,977.

 

1. Company Profile

2. Summary and Features

3. Major Business

4. Financial Information

 

 

 

1. Company Profile

 

※Unit is JPY million, as of 2019

Company name	Yamaha Motor Corporation
Company name (Japanese)	ヤマハ発動機
Date of establishment	Friday, July 1, 1955
Headquarters location	〒438-8501 静岡県磐田市新貝2500
Capital	85,905
Consolidated sales	1,673,137
Consolidated operating profit	140,787
Consolidated total assets	1,433,458
Consolidated capital	695,743
Capital adequacy ratio	48.5%
Consolidated number of employees	53,977

 

 

 

2. Summary and Features

 
Originally,「Yamaha Motor」was established by the independent motorcycle division of「Yamaha Corporation(ヤマハ)」 which is a famous musical instrument manufacturer. Nowadays, this company is very famous for its motorcycle business, which has the second largest market share in the world. In fact, 「Yamaha」experienced airplane propellers and related equipment manufacturing during World War II, and based on this know-how and technology, they started motorcycle business. This is the beginning of current「Yamaha Motor」

One of the features of「Yamaha Motor」is, its high overseas sales ratio. At present, they are operating in 180 countries all over the world, and it is said that overseas sales account for about 90% of the total. Similar to「Yamaha」, this company also consider the business diversification as a import thing. That is why this company handles not only motocycle or vehicles but also marine products such as boats, outboard motors, fishing boats and leisure vehicles such as snowmobiles and buggies, electric cars, electric scooters.

Nowadays,「Yamaha Motor」has approximately double the sales volume of its original parent company,「Yamaha」. And as of May 2007, 「Yamaha Motor」was excluded in the related equity of「Yamaha」, because 「Yamaha」decided to sold the shares of「Yamaha Motor」. Instead,「Yamaha Motor」newly acquired 5% of the total stock share of「Yamaha」.

Since 2019,「Yamaha Motor」has been strengthening the robot business as a new core business. They purchased「Apic Yamada Corporation」, which has strengths in semiconductor resin encapsulation equipment, and 「Shinkawa」which handles semiconductor substrate mounting equipment. By this,「Yamaha Motor」is now able to handle the processes from board mounting to resin encapsulation in semiconductor manufacturing. At the same time, they obtained technical advantages in the robot business for the future.

Recently, they have been developing an agricultural radio-controlled helicopter "RMAX" together with「Hirobo Electric Corporation(ヒロボー)」, which boasts the world's largest share of RC helicopters. In this way, they are developing a very wide range of products in various industrial sectors, which is a feature of「Yamaha Motor」.

 

 

 

3. Major Business

 

■ Motorcycle business
Yamada's motorcycle has a great reputation in Southeast Asia, and holds the second largest market share in the world. They also manufacture overseas production parts and intermediate parts.

■ Offshore business
They deal with outboard motors, watercrafts, leisure boats, fishing boats, etc. After 2018, sales have been declining slightly.

■ Special equipment business
They handle special vehicles such as ATVs, ROVs, snowmobiles, and snow blowers. They also manufacture generators and general-purpose engines.

■ Industrial machinery / Robot business
Currently「Yamaha motor」is actively concentrating on this buisness. They are investing in high value-added businesses such as semiconductor manufacturing equipment, industrial robots, and agricultural radio-controlled helicopters.

 

 

 

4. Financial information

 

※Unit is JPY million

		2016	2017	2018
Consolidated sales		1,502,834	1,670,090	1,673,137
Consolidated operating profit		108,594	149,782	140,787
Consolidated total assets		1,318,776	1,415,845	1,433,458
Consolidated net assets		575,404	665,232	695,743
Breakdown of sales	Motocycle related business	930,112	1,045,211	1,022,174
	Marine related business	297,216	323,838	344,658
	Special machinery business	152,310	151,622	153,778
	Industrial machinery・Robot business	46,871	67,571	69,891
	Others	76,322	81,845	82,634