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Yamaha Motor Co., Ltd. 󱚈 Annual Report 2012 93
Snapshot
Interview with the
President
Special Features
Overview of
Operations
CSR Section
Corporate
Information
Financial Section
Europe
Net sales in Europe decreased 10.4% from the previous
year to ¥135.5 billion, owing to decreased shipments of
motorcycles and outboard motors in Europe overall, despite
increased shipments of outboard motors and snowmobiles
in Russia. Operating loss was ¥4.7 billion, compared to
operating loss of ¥3.6 billion for the previous year.
Asia
Net sales in Asia (excluding Japan) decreased 8.6% from
the previous year to ¥596.0 billion, and operating income
decreased 55.9% to ¥21.4 billion, on lower shipments of
motorcycles in Indonesia and Vietnam, which offset higher
shipments in Thailand and India.
Other Areas
Net sales in other areas decreased 15.0% from the previous
year to ¥135.1 billion, and operating income decreased
63.8% to ¥5.2 billion, due to decreased shipments of
motorcycles in Brazil and other Central and South American
nations.
Note 1 Sales amounts by geographical segment include intersegment sales.
Income and Expenses
Cost of Sales, Gross Profi t and SG&A Expenses
Cost of sales for fi scal 2012 decreased 2.8% from fi scal
2011 to ¥972.6 billion, representing 80.5% of net sales.
Gross profi t decreased 14.8%, to ¥235.1 billion. This
was primarily because the positive effects of cost reductions
and lower raw material prices were unable to absorb the
negative impact of a decline in motorcycle sales in Europe
and emerging markets, the strong yen, and increased devel-
opment expenses for future growth. The gross profi t margin
declined 2.2 percentage points, to 19.5%.
Selling, general and administrative expenses decreased
2.8%, to ¥216.5 billion. This was mainly due to reversal
of provision for product liabilities (¥2.4 billion in 2012,
compared with ¥13.4 billion in 2011). Selling, general and
administrative expenses as a percentage of net sales were
17.9%, marking a 0.5 percentage point increase from the
previous year. R&D expenses included in selling, general and
administrative expenses and manufacturing costs for fi scal
2012 increased ¥4.7 billion from fi scal 2011 to ¥69.7 billion.
Sales by geographical segment Note 1
—Japan
(Billion ¥)
Sales by geographical segment Note 1
—North America
(Billion ¥)
Sales by geographical segment Note 1
—Europe
(Billion ¥)
2008 2009 2010 2011 2008 2009 2010 2011
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2008 2009 2010 20112012 2012 2012
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1,000
799
533
383
183 171
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135
450
527
177
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