Yamaha Motor (7272) Q1 2026 earnings summary

Executive summary

• Q1 FY2026 revenue reached 730.1 billion yen, up 17% year-over-year, with operating income at 62.6 billion yen, a 44% increase year-over-year.

• Growth was driven by strong motorcycle sales, favorable exchange rates, and cost controls, despite U.S. tariffs and rising procurement costs.

• U.S. structural reforms are progressing as planned, supporting profitability.

• Comprehensive income surged to 60.9 billion yen from a loss of 9.0 billion yen in Q1 2025.

Financial highlights

• Net income attributable to owners was 41.3 billion yen, up 35% year-over-year.

• EPS increased to 42.52 yen, a 35% rise year-over-year.

• Operating income ratio improved to 8.6% from 7.0% in the prior year.

• Gross profit increased to 217.3 billion yen from 197.0 billion yen year-over-year.

• Total assets grew to 3,086.7 billion yen, up 184.1 billion yen from December 2025.

Outlook and guidance

• FY2026 revenue forecast is 2,700 billion yen (+6.5% YoY), operating profit 180 billion yen (+42.4%), and profit attributable to owners of parent 100 billion yen (+520.8%).

• Outlook remains unchanged despite positive tariff developments and ongoing raw material price increases.

• Mitigation strategies include alternative procurement and cost reductions for raw materials and components.