Good afternoon, thank you very much for attending our presentation today. We would now like to start the Fiscal Year 2026 F irst Quarter Earnings Presentation for Yamaha Motor. Before the presentation, I would like to introduce the presenter for the day. Our Executive Officer, Hashimoto, will first have the earnings presentation. Then, after that, there will be an advanced explanation by business. After that, we will have a Q&A session for the media, then a separate session for analysts and investors through Zoom.
The presentation material has been uploaded on the Yamaha Motor's corporate website. I am Hashimoto from Yamaha Motor. Thank you very much for attending the Yamaha Motor earnings presentation today, despite your very busy schedules. I would like to take this opportunity to express our sincere appreciation for your continued support and understanding for our business operations.
Now, I would like to present our business results. First, starting with the key points. Please refer to Page four, the 2026 results compared to the same period of the previous year. We have seen an increase in revenue and profit across our business. Especially in motorcycle business, we have seen an increase in sales which led to growth in revenue. The U.S. and the rising raw material prices have had an impact, however, with increasing sales and appropriate. Also, as we have presented in the February presentation, the structural reforms in the United States are going as scheduled. The future outlook for reciprocal tariffs have been ruled unconstitutional, and our products have been exempted from the steel aluminum, we're expecting an adduction inflicted impact.
The raw material prices are on the increase and also the uncertainties on unclear outlook situation will continue and therefore. We have maintained our full year plan. We will not change it and we will continue to strive to achieve the plan. There is raw material prices as well as re-procurement and reduction so that we can minimize the impact. The structural reform has been carried out at accelerated pace and in order to improve our profitability. The Middle East situation has had an impact on manufacturing and procurement, however, with the collaboration with our suppliers and also view of allocation among key sites. We believe that this only has a very limited impact currently, and we will continue our measurements, and we will closely monitor the impact on our business performance. Next, unit sales and inventory.
Please refer to Page five. The table on the left shows the core products total demand and unit sales. In Indonesia, w e have seen a strong wholesale shipments. Last year, the shipments was down in Vietnam, now the plan operations has normalized and sales is recovering steadily. Thailand, India, Philippines grow India. The levying provincial taxes have been delayed, able effect in demand and retail sales increased outboard motors in North America, and in Europe, the sales has been steady unit sales has skewed the previous. Looking at the right-hand graph, market inventory is compared with the appropriate level. Where market sales is trending well, the inventory level is slightly below the appropriate level, however, we do not want to miss this opportunity. Therefore we would like to catch up the production of our product. Next, the overall business results.
Please refer to page six. First quarter of 2026 revenue versus the previous year was 117% at JPY 730.1 billion. Operating income against the previous year was 144% at JPY 62.6 billion. Operating income + 1.6 points from the previous year was 8.6%. Net income attributable to owners of parents against the previous year was 135% at JPY 41.3 billion. EPS versus the previous year was 135% at JPY 42.52. The actual exchange rate was JPY 157. Moving on to factors behind changes in the operating income, please refer to page seven. You can see sales effects was +JPY 24.1 billion. Looking at the breakdown, scale effects +JPY 18.7 billion, financial services +JPY 2.9 billion, price increase effects and rebates too for the pricing was +JPY 7.1 billion, and other SWAS JPY 4.6 billion.
Net cost impact +JPY 6.8 billion. Breakdown, cost reduction +JPY 4.3 billion and cost raises +JPY 11.1 billion. R&D expenses reduction +JPY 900 million. SG&A expenses reduction caused +JPY 1.9 billion. Equity method investment gain and loss and others +JPY 1.8 billion. Exchange rate effects +JPY 12.3 billion and tariff effects -JPY 15.1 billion. Next, performance by business. Please find details on motorcycle, robotics, and financial services. Motorcycle, robotics, financial services achieved increases in both revenue and operating income. Marine business operating revenue growth, while operating loss remained at the same level as the previous year. Other businesses recorded lower revenue but higher profit while reported revenue in part with the previous year, although profit declined. Let me walk you through the details of each business. First, motorcycle.
Revenue increased in the U.S. market and operating income increased by 20%, supported by 30% expense control and positive effects from the weaker. From the second quarter onward, we will continue working to strengthen our competitiveness by responding to the weaker. Next, marine products. Revenue increased and sales remained solid in Europe and North America. Although we have reduced R&D and SG&A expenses, operating income declined year-on-year due to higher costs resulting from the U.S. tariffs. As the impact of tariffs is expected to ease from the second quarter onward, we will work to secure profits by maintaining solid sales performance.
Let me introduce our new motorcycle model. Please take a look at Page 11. The scooter on this page is Fazzio, a Class 2 moped launched in April in Japan. It has long enjoyed strong popularity in Indonesia in addition to unique and clean design. Fazzio is Yamaha's first domestic model featuring the power assist function that kicks in during initial acceleration. As a domestic model, it is a highly attractive model in terms of functionality as well. Through the launch of this model, we aim to create new demand in the domestic business and drive future sales growth. Let me now discuss robotics business. Please turn to Page 12. Driven by strong sales of Surface Mounters, particularly in China, our key market, we recorded higher revenue.
Operating income also increased due to higher sales and tighter cost control. In financial services, revenue increased as a result of growth in outstanding receivables. Operating income also increased, mainly because no valuation losses were recorded this period, interest rate swaps, which had negative impact results on the previous year's outcome. SPV and OLV business on Page 13. On SPV business, although R&D expenses and other costs increased, revenue rose thanks to higher unit sales. Operating loss remained at the same level as the previous year. As for OLV business, sales of ATV increased due to lower sales of ROVs, and revenue remained roughly the same as the previous year. In addition, increased R&D expenses and tariff-related impact pushed down operating income.
We will further push the structural reforms in the United States to strengthen our earnings structure. This concludes our presentation on the financial results for the first quarter of the fiscal year ending December.