Yamaha Motor is forecasting a 22 per cent drop in worldwide sales this year and a net loss for 2009 equal to $570 million Cdn. This will be the first loss by the company since 1984 when the world experienced its last serious recession.
The yen’s rising value and the international financial failure are blamed for the looming loss.
Group profits for 2008 dropped about 95 per cent, but remained positive, the company says.
Until things get better, Yamaha is considering holding off on the construction of a motorcycle test course and a new motorcycle component plant in Japan, as well as freezing a production capacity expansion plan for a motorcycle plant in Indonesia.
When information is released about Canadian subsidiaries, we’ll bring you the latest data.