Japan · Delayed Price · Currency is JPY Yamaha Motor Earnings Call Transcripts
Fiscal Year 2025
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Q3 revenue matched last year, but operating income fell due to tariffs and impairment losses. Motorcycles and Marine segments showed resilience, while cost increases and FX impacted overall profitability. Full-year guidance remains unchanged.
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First half revenue and profit declined year-over-year due to lower unit sales and higher R&D and SG&A expenses, with additional U.S. tariffs and currency impacts expected to further pressure full-year results. Dividend remains unchanged at JPY 50 per share.
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First quarter revenue and income declined year-over-year due to lower sales and higher costs, with tariff uncertainties and market slowdowns impacting results. Strategic acquisitions and new product launches support future growth, while inventory and cost controls are ongoing.
Fiscal Year 2024
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2024 saw higher revenues but lower profits due to one-off costs and market challenges. The new Medium-Term Management Plan targets over 7% annual revenue growth, improved profitability, and enhanced shareholder returns, with a leadership transition to Shitara Motofumi.
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Revenue rose 8% year-over-year, driven by strong motorcycle sales in emerging markets, while operating income was flat and net income declined 5% due to higher costs and currency impacts. Full-year forecasts were revised downward, with continued challenges in marine, RV, and SPV segments.
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Record-high revenue and profit were achieved, led by strong motorcycle sales in emerging markets, while marine and robotics segments faced headwinds. Dividend guidance is maintained, and cost controls are planned as demand outlook varies by segment.