Yamaha Corp (YAMCF) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Now, I will explain the details of the third quarter financial results. Please refer to the slides for briefing on third quarter. First, let's look at the key points of the financial results on page 1. Regarding the earnings overview, 9 months results for the third quarter showed that revenue declined due to the sluggish market conditions in China and the absence of last year's high demand of audio equipment for professional use in Europe and the US. Core operating profit declined due to the sluggish market conditions in China. reduced sales of high-margin audio equipment for professional use, and the impact of additional U.S. tariffs. Now, the full-year forecast. We are revising our revenue forecast upward due to the weakening yen. However, we are maintaining our previous core operating profit forecast. now please turn to page three this slide shows the nine months results for the third quarter revenue reached 341.0 billion yen core operating profit was 25.1 billion yen the core operating profit ratio was 7.4 percent and net profit was 20.2 billion yen the year-on-year comparison is shown on the right which includes the impact of exchange rates. Excluding the impact of exchange rates, revenue decreased by 7.9 billion yen year-on-year, and core operating profit decreased by 7.4 billion yen year-on-year for the cumulative results of the third quarter. Please turn to page 4. The waterfall chart shows the comparison of 9 months core operating profit for the third quarter against the previous year. Cumulative core operating profit for the third quarter of the previous fiscal year was 31.9 billion yen, while this fiscal year ended at 25.1 billion yen. In the middle of the waterfall chart, there are two bars. Tariff impact and tariff countermeasure. The tariff impact refle...