Yamaha Motor Co., Ltd. · TSE:7272
Yamaha Motor — Q3 2025 Earnings Presentation
23 slides from Yamaha Motor's earnings presentation, Nov 6, 2025
Slide 1: 3rd Quarter of FY2025 Earnings Presentation
3rd Quarter of FY2025 Earnings Presentation November 5, 2025 Yamaha Motor Co., Ltd. (Stock Code: 7272) Exhibiting at the ‘Japan Mobility Show 2025’ Displaying a total of 16 models, including 6 world premieres
Slide 2: Contents of today's presentation
Contents of today's presentation Business Results for the Third Quarter of the Fiscal Year Ending December 31, 2025 Executive Officer HASHIMOTO, Mitsuru Forecast Consolidated Results The forecast consolidated results stated herein are based on management's assumptions and beliefs in light of informa
Slide 3: Outline
Outline © Yamaha Motor Co., Ltd. 3
Slide 4: Key Points
Key Points 2025 Q3 Results Revenue: 1,910.3 billion yen (97% YoY) | Operating income: 112.4 billion yen (56% YoY) Looking at the third quarter by itself, the core motorcycle business achieved both higher revenue and profits. Outboard motor sales remained about the same as last year Profits fell
Slide 5: Unit Sales and Inventory Levels by Main Products (FY2025 Q3)
Unit Sales and Inventory Levels by Main Products (FY2025 Q3) As during the first half of the fiscal year, motorcycle shipments exceeded demand and remained strong in Indonesia, Thailand, and the Philippines Outboard motor shipments increased, primarily in the U.S. and Europe Move to achieve ap
Slide 6: FY2025 Q3 Business Results
FY2025 Q3 Business Results Revenue declined due to lower unit sales in the Water Vehicle and OLV businesses, while profits decreased due to higher R&D and SG&A expenses, impairment of tangible fixed assets, and the impact of U.S. tariffs. 2024 2025 2025 (¥ Bil.) Q3 Q3 Vs. 2024 Full-Year Forecast R
Slide 7: FY2025 Q3 Operating Income Factors
FY2025 Q3 Operating Income Factors Lower sales scale, impairment of tangible fixed assets, higher R&D expenses, and increased labor costs and other SG&A expenses resulted in lower profits (¥ Bil.) 201.0 -14.6 -8.5 -22.4 -17.6 -10.8 -11.3 112.4 Sales Net cost -3.4 effects R&D impact expenses SG&A O
Slide 8: Initiatives for Growth
Initiatives for Growth Initiatives for Creating New Value Main Models at the Japan Mobility Show 2025 MOTOROiD:Λ (Reference vehicle) PROTO HEV (Reference vehicle) Vehicle capable of learning and Series-parallel hybrid prototype evolving autonomously through offering the special joy of freely reinfor
Slide 9: Details by Business Segment
Details by Business Segment © Yamaha Motor Co., Ltd. 9
Slide 10: Revenue and Operating Income by Business (FY2025 Q3)
Revenue and Operating Income by Business (FY2025 Q3) Revenue Operating Income 2024 2025 2024 2025 (¥ Bil.) Q3 Q3 Vs. 2024 (¥ Bil.) Q3 Q3 Vs.2024 Land Mobility 1,245.7 1,228.0 99% Land Mobility 116.5 88.9 76% Motorcycle 1,217.0 1,200.5 99% Motorcycle 130.0 94.0 72% SPV 28.7 27.5 96% SPV -13.5 -5.1 -
Slide 11: Motorcycles and Marine Products
Motorcycles and Marine Products Motorcycle Business Marine Products Business Lower profits from a worsening model mix, unrealized Lower revenue and profits due to reduced personal income, higher R&D expenses, and increased SG&A Results watercraft sales, higher R&D expenses, increased SG&A Results ex
Slide 12: Sales of the YZF-R9 Supersport Begin in Japan
Sales of the YZF-R9 Supersport Begin in Japan © Yamaha Motor Co., Ltd. 12 12
Slide 13: New CrossWave WaveRunner for North America
New CrossWave WaveRunner for North America © Yamaha Motor Co., Ltd. 13
Slide 14: Smart Power Vehicle and Robotics
Smart Power Vehicle and Robotics SPV Business Robotics Business Unit sales of e-Kits and Yamaha-brand eBikes in Japan grew, but revenue fell due to model mix effects. The business’s Sales of semiconductor back-end equipment grew, but Results Results revenue remained on par with last year due to a de
Slide 15: Outdoor Land Vehicle and Financial Services
Outdoor Land Vehicle and Financial Services OLV Business Financial Services Business Unit sales declined for both recreational vehicles and While financial receivables increased, revenue low-speed mobility products. The lower sales, remained about the same as last year due to foreign Results Results
Slide 16: Yamaha
@) YAMAHA FRevs your Hear
Slide 17: Motorcycles
Unit Sales and Revenue by Region/Operating Income Factors Unit Sales Operating Income Factors 2024 2025 130.0 (1,000 units) Q3 Q3 YoY -9.9 -4.6 -8.0 94.0 Japan 54 63 116% -6.1 Sales Net cost -6.8 -0.8 effects R&D North impact SG&A America 68 63 92% expenses Exchange expenses effects Tariff effects E
Slide 18: Marine Products
Unit Sales and Revenue by Region/Operating Income Factors Unit Sales (outboard motors) Operating Income Factors 2024 2025 (1,000 units) Q3 Q3 YoY 79.3 -8.2 North -3.8 America 65 70 107% Sales Net cost -8.8 -3.3 49.2 effects impact -4.0 -2.0 R&D SG&A Europe 25 27 110% expenses Exchange Tariff expense
Slide 19: Robotics
Unit Sales and Revenue by Region/Operating Income Factors Revenue Operating Income Factors 2024 2025 (¥ Bil.) Q3 Q3 YoY 2.6 SPV 6.6 -0.1 -5.1 All 28.7 27.5 96% -0.1 -0.6 Exchange SG&A R&D effects Net cost expenses expenses impact -13.5 Sales effects 2024 2025 Q3 Q3 Revenue Operating Income Factors 2
Slide 20: OLV
Unit Sales and Revenue by Region/Operating Income Factors Revenue Operating Income Factors 2024 2025 (¥ Bil.) Q3 Q3 YoY -2.1 North America 52.8 41.3 78% RV Other 26.2 25.7 98% 0.1 Total 78.9 67.0 85% -16.6 Net cost impact -4.1 North Sales America 41.3 30.5 74% effects R&D -2.9 -0.2 -0.5 -26.3 expens
Slide 21: Financial Condition
Financial Condition 2024 2025 (¥ Bil.) Q3 Q3 Cash flows from operating 191.8 154.2 Cash flows from investing -95.5 -72.9 Free cash flow 96.4 81.2 Cash flows from financing -87.5 -64.2 Capital expenditures 76.9 75.0 Depreciation 61.8 63.2 R&D expenditures 94.4 115.8 (¥ Bil.) End of December 2024 End
Slide 22: Foreign Exchange Effects (vs. FY2024 / FY2025 Forecast)
Foreign Exchange Effects (vs. FY2024 / FY2025 Forecast) Q3 FY2025 (¥ Bil.) US$ EURO Others Total Foreign exchange effects on gross income -4.0 -0.0 -2.2 -6.2 (headquarters) Conversion effects on gross income -2.3 0.2 -10.6 -12.7 (overseas subsidiaries) Conversion effects on SG&A expenses 2.3 -0.3 6.
Slide 23: Yamaha
@) YAMAHA FRevs your Hear