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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.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.
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