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Yamaha loses on book news
YAMAHA Motor Co, the world's second-largest motorcycle maker, declined after saying it would book a charge of 20 billion yen (US$221 million) on an unconsolidated basis due to a drop in the value of its shareholdings.
The stock dropped 8 yen, or 0.9 percent, to 919 yen, at the 3pm close on the Tokyo Stock Exchange. They have declined 66 percent this year.
Yamaha Motor will book the one-time charge in the year ending December 31, it said after markets closed on December 26. The unconsolidated earnings exclude those from overseas affiliates. Most of the losses stem from holdings related to musical instrument-maker Yamaha Corp, whose shares have plunged 68 percent this year.
The stock dropped 8 yen, or 0.9 percent, to 919 yen, at the 3pm close on the Tokyo Stock Exchange. They have declined 66 percent this year.
Yamaha Motor will book the one-time charge in the year ending December 31, it said after markets closed on December 26. The unconsolidated earnings exclude those from overseas affiliates. Most of the losses stem from holdings related to musical instrument-maker Yamaha Corp, whose shares have plunged 68 percent this year.