General

Yamaha announce £327 million loss

Top executives to take pay cut as global financial crisis sets in

YAMAHA HAS posted its first quarterly loss in at least four years, reports Bloomberg.com

The firm had a fourth-quarter loss of £327 million. The figure was calculated by financial company Bloomberg from preliminary full-year figures released by the company yesterday.

Yamaha has found that it has lost buyers in North America and Europe as people have limited the buying of leisure goods in the wake of the global financial crisis.

According to Bloomberg, Yamaha will cut salaries of executives by as much as 20 percent from February to December this year.
The company's profits have also been hit by the stronger yen.

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