Yamaha has posted its first quarterly loss in four years
Yamaha reports first loss in four years
28 January 2009 13:42
Yamaha has posted its first quarterly loss in at least four years, according to financial experts Bloomberg.
The Japanese firm, the world’s second largest motorcycle manufacturer, had a fourth-quarter loss of 41.65 billion Yen (£327 million).
Bloomberg calculated the loss from preliminary full-year figures released by Yamaha today.
Yamaha has lost customers in North America and Europe as people pared consumption of leisure goods amid the credit crisis and falling home values.
The company will cut salaries of executives by as much as 20 percent from February to December.
The company's profits have also been hit by the stronger yen.
See more in the February 4 edition of MCN