Yamaha Motor (7272) Q3 2026 earnings summary

Executive summary

• FY2026 Q1–Q3 revenue reached ¥2,215.2bn and operating profit ¥235.2bn, both period records; profit growth reflected higher sales, cost control, favorable FX and a U.S. asset-sale gain.

• Motorcycle sales rose in ASEAN and India, robotics sales grew across businesses, and market inventories were slightly below internally defined appropriate levels.

Financial highlights

• Revenue was ¥2,215.2bn versus ¥1,910.3bn; operating profit was ¥235.2bn versus ¥112.2bn.

• Profit attributable to owners was ¥173.4bn, up 301.0% YoY; basic EPS was ¥178.66 versus ¥44.51.

• Operating profit ratio rose to 10.6% from 5.9%, up 4.7 percentage points.

• Operating profit factors: sales effects +¥91.7bn, net cost impact -¥36.9bn, R&D reductions +¥11.3bn, SG&A reductions +¥4.2bn, FX +¥43.2bn and tariffs -¥18.7bn.

• Q1–Q3 operating profit included ~¥16.0bn from the sale of U.S. subsidiary assets.

Outlook and guidance

• FY2026 forecast unchanged: revenue ¥2,900.0bn, operating profit ¥260.0bn, attributable profit ¥170.0bn and EPS ¥175.16.

• Yen appreciation, U.S. tariffs and structural-reform costs are expected to weigh on results, offset by sales growth, price pass-throughs and expense reductions; record full-year profit remains targeted.

• Year-end dividend forecast increased by ¥10 to ¥35 per share, taking the FY2026 annual dividend to ¥60 per share.