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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