Yamaha Motor
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Yamaha Motor (7272) investor relations material

Yamaha Motor Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary13 Feb, 2026

Executive summary

  • FY2025 revenue was ¥2,534.2 billion (down 1.6% YoY), with operating income at ¥126.4 billion (down 30.4% YoY), in line with revised forecasts and impacted by U.S. tariffs and higher costs.

  • Net income dropped to ¥16.1 billion (down 85.1% YoY) due to lower operating profit and a larger-than-expected reversal of deferred tax assets.

  • Cost structure reforms and workforce reductions were initiated in response to U.S. market changes and higher tariffs.

  • FY2026 forecasts anticipate revenue of ¥2,700.0 billion (+6.5% YoY), operating income of ¥180.0 billion (+42.4% YoY), and net income rebounding to ¥100.0 billion (+520.8% YoY).

  • Free cash flow improved to ¥52.5 billion in FY2025.

Financial highlights

  • FY2025 operating income ratio declined to 5.0% from 7.0% in FY2024.

  • EPS for FY2025 was ¥16.59, down from ¥110.12 in FY2024.

  • FY2026 EPS is forecast at ¥103.05, with an operating income ratio of 6.7%.

  • Total assets reached ¥2,902.6 billion, with equity attributable to owners at ¥1,132.2 billion.

  • Free cash flow was positive at ¥52.5 billion, up ¥4.4 billion YoY.

Outlook and guidance

  • FY2026 expects higher revenue and profits, driven by core business growth and improved profitability in strategic segments.

  • Tariff impacts are expected to grow, but profitability will be supported by pricing strategies and cost reductions.

  • Annual dividend for FY2026 is forecast at ¥50 per share, up from ¥35 in FY2025.

  • Assumes exchange rates of ¥155/USD and ¥175/EUR.

Detail 2026 profit recovery drivers.
Strategic business turnaround drivers?
How will YMT acquisition affect shareholder returns?
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Frequently asked questions

Yamaha Motor Co., Ltd. is a diversified global company primarily engaged in the manufacture and sale of motorcycles, marine products, and robotics, including industrial equipment. Its operations span four major business segments: Two-wheel Vehicles, Marine, Special Machinery, and Industrial Equipment and Robots. The Two-wheel Vehicle segment includes motorcycles, intermediate parts, and parts for overseas production. The Marine segment offers outboard engines, water vehicles, boats, and other marine products. Special Machinery focuses on products like all-terrain vehicles, golf carts, and generators, while the Industrial Equipment and Robot segment provides surface mounters, industrial robots, and other related products. Yamaha Motor is also involved in electric assist bicycles, automobile engines, industrial unmanned helicopters, and electric wheelchairs. The company is headquartered in Iwata-shi, Shizuoka-ken, Japan, and its shares are listed on the Tokyo Stock Exchange.

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