Hello, everyone. Knowing you are so busy, we are very glad to have you here joining us for the Yamaha Motor Company third quarter of fiscal year 2026 earnings presentation. Before we begin the presentation, I would like to introduce today's attendees. This is Executive Officer Hashimoto Mitsuru. Today, after we have given the outline report, we will then give you some briefings on each of the individual businesses. After the briefing for media, analyst, investors, we will have Q&A sessions over Zoom. The earnings presentation documents are now on the Yamaha Motor Company corporate website. We will now begin the earnings presentation.
My name is Hashimoto from Yamaha Motor Company. Today, I know you are all very busy. Thank you for joining the Yamaha Motor Company earnings presentation despite your busy schedules. Thank you always for your continued support of our business activities, your understanding. We very much appreciate it.
We will now begin the earnings presentation. Beginning with the key points of the earnings presentation, this is page four. The third quarter results are in the motorcycle business, ASEAN and India were regions where we saw a rise in the sales volumes. Additionally, in the robotics business, good conditions were maintained, and sales grew across each business, resulting in an increase in revenue. With the expansion in sales and controlling our expenses, we were able to improve our profitability. Additionally, there was early realization of the sale of a fixed asset in the U.S., resulting in an increase in profit. As a result, revenue, operating profit, and net profit for quarter three year-to-dates have hit record highs this year. Additionally, the U.S. structural reform is progressive, on track to plan, and in the ROV sector, we have officially announced our agreement to collaborate with John Deere.
The details will be explained later on. Next is the future outlook. In terms of the whole year results forecast, we will not change the previously disclosed forecast for this year's landing. For the end of the year, continued Japanese yen appreciation, the impact of U.S. tariffs, as well as costs associated with structural reform are forecast. However, with the continued strong sales, price increases, and expenses reductions, we believe that we can shoot for a whole year highest ever profit level. Through our activities so far, we have improved our profitability. Therefore, our profit forecast has significantly grown compared to prior year. This growth in profit, as well as our cash flow situation, mean that we are able to consider greater returns to our shareholders. Therefore, we will raise our year-end dividend forecast.
The year-end dividend will be a JPY 10 increase on the prior forecast to JPY 35 per share. Together with the already issued mid-year dividend, the annual dividend will be JPY 60 per share. Next, looking at the unit sales and inventory levels. Please see page five. The chart on the left shows our main products in terms of total demand as well as unit sales, and a comparison to prior year. In motorcycles, for the main regions which are listed here, demand and shipments both increased. In terms of outboard motors, in North America, we did see a reduction in unit sales, but there was a rise in Europe, and the business as a whole saw an increase. For Mounters, the demand is growing, and with a background of healthy orders, we have increased our unit sales. The graph on the right shows the inventory levels in the market.
With good sales and inventory reductions, our inventory levels are slightly below our generally set appropriate levels. However, we will continue to review this, including the appropriate level for inventory, and we will work to improve the cash conversion cycle. Next are the business results. Please see page six. The fiscal year 2026 third quarter results are: revenue, 116% on prior year at JPY 2,215.2 billion. Operating profit compared to prior year, 210% at JPY 235.2 billion. The operating profit ratio compared to prior year is +4.7 points at 10.6%. The net income attributable to owners of the parent is 401% on prior year at JPY 173.4 billion. The EPS was 401% on prior year at JPY 178.66. The actual foreign exchange rates were JPY 159 to the U.S. dollar, JPY 184 to the euro. Next, the operating profit factors. Please see page seven.
As you are seeing on the slide, sales effects +JPY 91.7 billion. That breaks down into volume changes +JPY 38.7 billion, financial services +JPY 6.3 billion, price ups and rebates together in terms of pricing was +JPY 31.1 billion, and others +JPY 15.5 billion. The net cost impact was -JPY 36.9 billion. That breaks down into cost downs +JPY 14.8 billion and cost ups -JPY 51.7 billion. Additionally, reductions in R&D expenses was +JPY 11.3 billion, reductions in SG&A expenses was +JPY 4.2 billion, and equity in earnings of affiliates and others was +JPY 28.3 billion. Foreign exchange differences were +JPY 43.2 billion, and tariff impacts was -JPY 18.7 billion. Next, I would like to explain about the progress on U.S. structural reforms. Please see page eight.
First of all, in terms of the U.S. tariffs outlook, last year, U.S. tariffs had an impact of JPY 17.1 billion. For this fiscal year, at the start of the year, we had forecast an impact of JPY 54.3 billion. However, reciprocal tariffs and steel tariffs resulted in a number of changes since then, and in the latest forecast, we are now predicting an impact amount of JPY 45.3 billion. Taking into account tariffs, our activities on profitability improvement was for a planned improvement through the year of JPY 37 billion. Each measure is generally progressing on track to plan, and as at the end of the third quarter, our results are approximately JPY 36.4 billion. In response to our loss-making businesses, at the last earnings presented, we disclosed that we will be discontinuing in-house production of ROVs.
Following which, on October 7th, we announced that we will be collaborating with the U.S. company John Deere. On the right-hand side, you see our aims in this collaboration. Yamaha Motor Company and John Deere share values such as quality, durability, reliability, and performance. Based on that basis, we want to leverage one another's technology and knowledge in product development, and using both companies' sales channels, we hope to expand our market opportunities. Going forward, as we have more specific developments, we will advise you of those.
Next is shareholders return. Please see page nine. As I explained at the beginning, for 2026, we plan to raise the year-end dividend, and that raise will be by JPY 10 to JPY 35 per share, and the planned annual dividend will be JPY 60 per share. With this, the cumulative total payout ratio from 2025 is expected to reach 54.9%. Next, details by business segment. Revenue and operating profit by business. Please see page 11. In motorcycle, marine, robotics, and financial services business, we have seen an increase in both revenue and profit. SPV business, the revenue increased and operating loss was reduced. OLV business and other businesses, we have seen a revenue drop, but also an operating loss reduction. Now I'd like to look in more detail by business segment. Please see page 12. Starting with the Motorcycle business, revenue was up.
As in developed markets, India, Asia, and ASEAN, we have seen higher unit sales, and because of the effects of price pass-throughs. Operating profit. In addition to increase in sales and favorable foreign exchange effects, we have seen an increase. We will continue to steadily capture demand in each market and aim for record profit in the motorcycle business. Next, Marine business. Revenue. Outboard motor sales has increased overall, and with the price pass-throughs, we have seen an increase. Operating profits. Sales have increased, as well as R&D and SG&A expenses being controlled, plus favorable foreign exchange situation has led to an increase. In the main market, which is the U.S., demand due to higher interest rates and higher oil prices remain stagnant. Europe, Asia, and Latin America, in these areas, we will expand sales so that we can maintain overall profitability of our business.
Now I'd like to introduce some new motorcycle products. Please see page 13. From November 3rd in Milan, at the world's largest motorcycle show, EICMA, our new electric scooters, NMAX E and XENTER E, are being exhibited. NMAX E retains the popular model NMAX's rideability, sophisticated styling, and comfortable maneuverability, and also combines this with the latest EV technology. XENTER E has excellent handling and comfort of large diameter wheels being used in motorcycles, and also provides smooth response, which is typical of EVs. Both models have enhanced functionality and will continue to be a part of our efforts toward carbon neutrality. Robotics business. Please see page 14. We have businesses in surface mounters, industrial robots, semiconductor backend manufacturing equipment, and in each of these businesses, we have seen sales increase, which led to increase in both revenue and operating profit. Next, financial services business.
Revenue due to higher receivables have increased. Operating profit due to improved interest rate margins and also a reduction in impact from last year's interest rate swap valuation losses, we have seen an increase. Next is SPV and OLV businesses. Please see page 15. First, SPV business. The e-Kit unit sales have increased, which led to a revenue increase. However, procurement cost, R&D expenses have also increased, and the operating deficit remains largely unchanged. OLV business. ATV sales remain steady. However, ROV, with the structural reform, we have discontinued in-house manufacturing, therefore unit sales have dropped. Also, in LSM, due to intense competitive environment, especially in the major market, which is the U.S., we have seen a decrease in unit sales, therefore a drop in revenue. Operating profit. There were some temporary costs due to structural reform.
However, we were able to reduce SG&A expenses. Also, the fixed asset impairment loss recorded last year, because of the absence of that this year, we have seen our operating deficit narrow. Lastly, please see page 16. On October 25th, at the Suzuka Circuit, the All Japan Road Race Championship was held, and Katsuyuki Nakasuga of the Yamaha Factory Racing Team has won the title. This All Japan Road Race Championship was to be Nakasuga's last race. It was the final race of his 27-year race career. Throughout his career, he has been committed to winning, and he was able to maintain challenging spirit, and he capped off his legacy career with this big win. I'd like to praise the long years of active racing by Nakasuga and his contributions, and also would like to thank and appreciate the fans and supporters who have been with us all along.
With this, I would like to conclude the fiscal year 2026 third quarter earnings presentation. Thank you very much for your kind attention. With this, we conclude the earnings presentation for fiscal 2026 third quarter. Thank you very much for watching the YouTube live.