On December 15, Yamaha Motor Co., Ltd. announced its new medium-term management plan for the three year period from 2016 to 2018. With their consolidated operating income targeted at 180.0 billion yen for 2018, the final year of the plan, Yamaha aims for an increase of 55.0 billion yen or 44% from the 125.0 billion yen forecasted for 2015.
For the motorcycle business, Yamaha is targeting a 30% increase from this yearâ€™s 1.85 million units, to 2.4 million units for 2018 in their leading Indonesian market, despite the expectation of a continuous market decline amongst developing countries. Moreover, for the highly anticipated Indian market, Yamaha is expecting to nearly double its figures from this yearâ€™s 620,000 units to 1.2 million units in the final year of the plan.
Consolidated net sales are forecasted at 2.0 trillion yen, which is a 21% increase from the 1.65 trillion yen targeted for this year. The consolidated operating income margin has been set at 9.0%. In addition, Yamaha has revealed that the dividend payout ratio will be increased to 30% under the new plan from the 20% payout ratio for this year.
For their current three-year medium-term plan (2013 to 2015), Yamaha is expecting to record net sales of 1.65 trillion yen and a consolidated operating income margin of 7.6%, which exceeds its targeted figures of 1.6 trillion yen and 5.0%, respectively.