Yamaha Motor Co., Ltd. (Tokyo: 7272) announces its consolidated business results for the first half of fiscal 2025.

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Yamaha Motor Co., Ltd.

Revenues for the period were 1,277.8 billion yen (a decrease of 70.6 billion yen or 5.2% compared with the same period of the previous fiscal year), operating income was 84.1 billion yen (a decrease of 70.0 billion yen or 45.4%), and net income attributable to owners of parent was 53.1 billion (a decrease of 59.8 billion yen or 52.9%).

For the first half-year consolidated accounting period, the U.S. dollar traded at 148 yen (an increase of 4 yen from the same period of the previous fiscal year) and the euro at 162 yen (an increase of 3 yen).

Declining unit sales in motorcycles, personal watercraft, and golf cars led to lower revenues. For operating income, the decrease in unit sales and higher R&D expenses in the core motorcycle and Marine Product businesses, as well as an increase in labor costs and other SG&A expenses brought revenue down.

Forecast of Consolidated Business Results

Regarding the consolidated business results for the first half of the fiscal year ending December 31, 2025, the Company's motorcycle business experienced a temporary suspension of production and shipments in Vietnam in the first quarter and India recorded lower unit sales in the first half of the year. Also, in the Marine Products business, demand in the major market of the U.S. was lower than predicted. As a result, both revenue and operating income fell below expectations.

As for the Company's forecast of consolidated business results for the full fiscal year, further declines in revenues and profits are projected not only due to the lower sales factors outlined above but also due to the impact on demand from higher automobile taxes in Indonesia and increased costs brought on by additional tariffs by the U.S. Taking all these factors into account as well as the risk of a partial reversal of deferred tax assets, the Company has made the following downward revisions to its revenue and incomes forecast for fiscal 2025:

Details: https://global.yamaha-motor.com/news/2025/0805/result.html

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Yamaha Motor announces its consolidated business results for the first half of fiscal 2025