Yamaha Motor Co., Ltd. · TSE:7272
Yamaha Motor — Q1 2025 Earnings Presentation
23 slides from Yamaha Motor's earnings presentation, May 13, 2025
Slide 1: 1st Quarter of FY2025 Earnings Presentation
1st Quarter of FY2025 Earnings Presentation May 13, 2025 Yamaha Motor Co., Ltd. (Ticker symbol: 7272) 2025 Formula E | Miami e-Prix Lola Yamaha ABT Formula E Team takes its first podium finish (2nd place)
Slide 2: Business Results for the First Quarter of the Fiscal Year Ending December 31, 2025
本日ご説明する内容 Business Results for the First 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 information currently availabl
Slide 3: Outline
Outline © Yamaha Motor Co., Ltd. 3
Slide 4: Key points
Key points 2025 Q1 Results Revenue: 625.9 billion yen (97% YoY), operating income: 43.6 billion yen (56% YoY) ◼ Lower revenue and profits due to decreased unit sales of motorcycles, personal watercraft, and low-speed mobility (LSM) vehicles, and higher R&D spending and SG&A expenses, such as labor c
Slide 5: 2025 Impact Projection of Additional U.S. Tariffs
2025 Impact Projection of Additional U.S. Tariffs ◼ The impact of tariffs on Q1 results is expected to be minor, but from Q2 onward, costs are expected to increase mainly in the Marine Products business due to additional tariffs imposed by the United States. ◼ We will minimize the impact of the incr
Slide 6: Unit Sales and Inventory Levels by Main Products (2025 Q1)
Unit Sales and Inventory Levels by Main Products (2025 Q1) ◼ Unit sales fell due to production and shipment suspensions in Vietnam triggered by defective engine stamping. A return to normal from April ◼ Will continue production adjustments for regions and products exceeding appropriate inventory lev
Slide 7: FY2025 Q1 Business Results
FY2025 Q1 Business Results ◼ Lower unit sales of motorcycles, personal watercraft, and LSMs, higher R&D expenses, and higher labor costs and other SG&A expenses led to decreased revenue and profits 2024 2025 2025 (¥ Bil.) Q1 Q1 Vs. 2024 Full-Year Forecast Revenue 642.1 625.9 97% 2,700.0 Operating In
Slide 8: FY2025 Q1 Operating Income Factors
FY2025 Q1 Operating Income Factors ◼ Lower unit sales in various businesses, higher R&D expenses, and higher labor costs and other SG&A expenses led to decreased profits (¥ Bil.) 78.0 -11.2 -3.1 -7.9 -9.8 Sales -3.0 effects Net cost +0.6 43.6 impact R&D expenses SG&A Others Exchange expenses effects
Slide 9: Initiatives for Growth
Initiatives for Growth Acquired Telwater, Australia's leading boat manufacturer Acquired e-Kit business subsidiary of German auto parts manufacturer, Brose Objective Objective ▪ Strengthen the foundation of our Marine ▪ Strengthen our business structure in Europe, the largest Products business marke
Slide 10: Details by Business Segment
Details by Business Segment © Yamaha Motor Co., Ltd. 10
Slide 11: FY2025 Revenue and Operating Income by Business
FY2025 Revenue and Operating Income by Business Revenue Operating Income 2024 2025 2024 2025 (¥ Bil.) Q1 Q1 Vs. 2024 (¥ Bil.) Q1 Q1 Vs. 2024 Land Mobility 407.6 388.1 95% Land Mobility 52.5 27.8 53% Motorcycle 398.6 378.6 95% Motorcycle 53.3 29.0 54% SPV 8.9 9.5 106% SPV -0.8 -1.2 - Marine Products
Slide 12: Motorcycles and Marine Products
Motorcycles and Marine Products Motorcycle Business Marine Products Business Lower unit sales, higher procurement costs, increased Lower personal watercraft unit sales, increased R&D Results R&D expenses, and higher labor costs and other Results expenses, and higher labor costs and other SG&A SG&A e
Slide 13: New NMAX Model Launched in the Philippines in April
New NMAX Model Launched in the Philippines in April © Yamaha Motor Co., Ltd. 13
Slide 14: Smart Power Vehicle and Robotics
Smart Power Vehicle and Robotics SPV Business Robotics Business Increased revenue thanks to higher unit sales of Higher revenue and narrower deficit thanks to higher complete Yamaha-brand eBikes in Japan and e-Kits. unit sales of surface mounters and semiconductor Results Results However, profits fe
Slide 15: Outdoor Land Vehicle and Financial Services
Outdoor Land Vehicle and Financial Services OLV Business Financial Services Business Revenues went up from higher interest income from Despite higher RV unit sales, profits decreased due to Results the increase in financial receivables, but profits lower LSM unit sales and a deteriorating model mix.
Slide 16: Yamaha
@) YAMAHA FRevs yourHear
Slide 17: Motorcycles
Unit Sales and Revenue by Region/Operating Income Factors Unit Sales 2024 2025 (1,000 units) Q1 Q1 Vs. 2024 Japan 18 19 110% North America 26 26 101% Europe 58 53 91% Asia 949 901 95% Other 177 167 95% Motorcycles All 1,228 1,168 95% Revenue Operating Income Factors 2024 2025 53 3 (¥ Bil.) Q1 Q1 Vs.
Slide 18: Marine Products
Unit Sales and Revenue by Region/Operating Income Factors Unit Sales (outboard motors) 2024 2025 (1,000 units) Q1 Q1 Vs. 2024 North America 26 24 92% Europe 8 9 108% Other 38 33 88% Marine Products All 72 66 92% Revenue Operating Income Factors 2024 2025 55 (¥ Bil.) Q1 Q1 Vs. 2024 1 Sales 6 19 Japan
Slide 19: Robotics
Unit Sales and Revenue by Region/Operating Income Factors Revenue Operating Income Factors 2024 2025 (¥ Bil.) Q1 Q1 Vs. 2024 All 8.9 9.5 106% Sales SPV effects Net cost SG&A -0.8 R&D expenses Exchange impact expenses 1 effects 4 1 2024 2025 Q1 Q1 Revenue Operating Income Factors 2024 2025 33 (¥ Bil.
Slide 20: OLV
Unit Sales and Revenue by Region/Operating Income Factors Revenue Operating Income Factors 2024 2025 (¥ Bil.) Q1 Q1 Vs. 2024 Sales effects North America 17.7 17.1 97% 13 OLV RV Other 5.4 8.3 156% R&D Total 23.0 25.4 110% SG&A expenses Net cost expenses North America 14.1 10.6 75% 6 Exchange impact e
Slide 21: Financial Condition
Financial Condition 2024 2025 (¥ Bil.) Q1 Q1 Cash flows from operating -12.0 -48.1 Cash flows from investing -32.1 -16.4 Free cash flow -44.1 -64.5 Cash flows from financing 56.2 65.1 Capital expenditures 20.7 21.8 Depreciation 20.5 21.3 R&D expenditures 27.0 35.5 End of End of (¥ Bil.) December 202
Slide 22: Foreign Exchange Effects (vs. FY2024 / FY2025 Forecast)
Foreign Exchange Effects (vs. FY2024 / FY2025 Forecast) 2025 Q1 2025 Forecast (¥ Bil.) US$ EURO Other Total US$ EURO Other Total Foreign exchange effects on gross income 1.6 -0.2 -0.3 1.1 -9.3 -6.6 -1.8 -17.8 (headquarters) Conversion effects on gross income 0.8 -0.1 -2.0 -1.2 -7.1 -4.1 -12.0 -23.2
Slide 23: Yamaha
@) YAMAHA FRevs yourHear