TOKYO (Kyodo) -- Motorcycle manufacturer Yamaha Motor Co. said Monday it is aiming to boost global sales in marine business such as outboard motors and boats by about 70 percent to 300 billion yen in the latter half of the 2010s from 178.9 billion yen in 2011.
Yamaha Motor will beef up the marine business as the mainstay U.S. market is recovering from the global financial crisis triggered by the collapse of U.S. investment bank Lehman Brothers Holdings Inc. in 2008 and leisure-related demand is increasing in emerging markets such as Russia and China.
In the emerging markets, the Iwata, Shizuoka Prefecture-based firm will expand local production and begin operation of marinas to more than double sales over 2011.
Yamaha Motor President Hiroyuki Yamagi said at a press conference in Fukuroi, Shizuoka Prefecture, that his firm's performance is recovering although it was harmed by the yen's appreciation and that he would like to make efforts to create demand in the emerging markets.
