Yamaha Motor Co Unsp/Adr (YAMHY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you very much for attending the fiscal year 2025 earnings presentation for Yamaha Motor Corporation. Before we move on into the presentation, I'd like to introduce those who are attending. President and CEO, Representative Director, Motofumi Sitara. Executive Officer and Chief General Manager of Corporate Planning and Finance Center, Mitsuru Hashimoto. Today, President Stada will explain the business results, and Executive Officer Hashimoto will give you the details by business segment, and then we will have a Q&A Zoom session for journalists and then analyst investors. The presentation material has been uploaded onto the Yamaha Motors corporate site. I am Motofumi Sitara of Yamaha Motor Corporation. Thank you very much for attending our company's presentation. I would also like to thank you for your understanding and cooperation to our daily business operations. I would now like to go into the presentation of our business results. First, starting with some key points, please refer to page 4. The 2025 results was down in terms of revenue and profit against the previous year. And against the revised forecast, which we released in its second quarter announcement, it was a reduction in revenue but increase in profit. Operating income is moving as scheduled. As a result of reviewing our recoverability of deferred tax assets, net income resulted lower than the revised forecast. Looking at the environment surrounding our company, the tariffs have pushed up costs, and especially the U.S. business environment has changed drastically, and therefore in 2025 and onward, we have has started our company-wide cost structure reform. 2026, we believe that the tariffs will impact throughout the year. Therefore, through cost structure reform and price strategy, we will boost pro...