Yamaha Motor Co., Ltd. · TSE:7272
Yamaha Motor — Q3 2023 Earnings Presentation
20 slides from Yamaha Motor's earnings presentation, Nov 7, 2023
Slide 1: 3rd Quarter of FY2023 Earnings Presentation
3rd Quarter of FY2023 Earnings Presentation November 7, 2023 Exhibited at the Japan Mobility Show 2023 Displayed motorcycles, electric commuters, eBikes, and more, including six models making their world debut Yamaha Motor Co., Ltd. (Ticker symbol: 7272)
Slide 2: Agenda
Agenda Business Results for the Third Quarter of the Fiscal Year Ending December 31, 2023 Director SHITARA, Motofumi Forecast Consolidated Results The forecast consolidated results stated herein are based on management's assumptions and beliefs in light of information currently available and involve
Slide 3: Outline
Outline © Yamaha Motor Co., Ltd. 3
Slide 4: FY2023 Q3 Key Points
FY2023 Q3 Key Points Summary Achieved record highs for net sales and operating income - Net sales of 1,835.2 billion yen (109% YoY), operating income of 208.2 billion yen (120% YoY) Motorcycle: Higher sales and profits due to increased shipments Increased sales Marine Products: Higher sales an
Slide 5: Unit Sales and Inventory Levels by Main Products (Jan.–Sept.)
Unit Sales and Inventory Levels by Main Products (Jan.–Sept.) Demand for motorcycles in emerging markets was strong in Indonesia, India, and Brazil, and shipments increased. Due to declining demand for small to midrange outboard models, inventory adjustments will be made throughout next season. Prod
Slide 6: FY2023 Q3 Business Results
FY2023 Q3 Business Results Shipments of premium segment motorcycle and scooter models in emerging markets increased thanks to improved semiconductor procurement. With the depreciating yen becoming a tailwind and more pronounced effects from passing on prices, record highs were set for net sales and
Slide 7: FY2023 Q3 Operating Income Factors
FY2023 Q3 Operating Income Factors Price raises increased sales while cost reduction efforts helped bring in higher profits. (¥ Bil.) 38.7 -6.8 -4.9 34.9 208.2 -27.8 174.2 Net cost Growth Sales reduction strategy Exchange increase expenses SG&A effects 149.3 expenses Operating Operating Income Net i
Slide 8: Medium- to Long-Term Measures Progress Report
Medium- to Long-Term Measures Progress Report Strategic Business Fields Portfolio Management Practices High New Growth Businesses Businesses Sales growth rate Established Tuning Fork Bio Inc. in the U.S. Low ROIC High Running an antibody profiling business*1 in the medical and healthcare field Struc
Slide 9: Notice of Stock Split
Notice of Stock Split To expand our investor base and further enhance our shareholder benefits program, we will implement a 3-for-1 stock split. To lower the price per share in order to create an environment conducive to Objective investment and expand our base of investors Split Method A 3-for-1 st
Slide 10: Details by Business Segment
Details by Business Segment © Yamaha Motor Co., Ltd. 10
Slide 11: Net Sales and Operating Income by Business (Q3)
Net Sales and Operating Income by Business (Q3) Net Sales Operating Income 2022 2023 2022 2023 (¥ Bil.) Q3 Q3 Vs. 2022 (¥ Bil.) Q3 Q3 Vs. 2022 Land Mobility 1,085.3 1,199.9 111% Land Mobility 66.2 106.0 160% Motorcycle 954.6 1,068.4 112% Motorcycle 63.4 99.6 157% RV 93.8 98.5 105% RV -0.2 5.8 – SPV
Slide 12: Core Business: Motorcycle and Marine Products
Core Business Motorcycle and Marine Products Motorcycle Marine Products Shipments increased. Profits rose thanks to the effects of Increased shipments of large (200+ hp) outboard motors and passing on prices and other measures. Premium model personal WV. Production of small to midrange outboard segm
Slide 13: Long-Awaited XSR900GP Launched
Long-Awaited XSR900GP Launched Exhibited at EICMA 2023 © Yamaha Motor Co., Ltd. 13
Slide 14: Core Business: Recreational Vehicle and Financial Services
Core Business Recreational Vehicle and Financial Services Recreational Vehicle Business Financial Services Business Sales and profits increased thanks to improved production Sales increased due to an increase in receivables, but profits efficiency, but lower demand has intensified price competition.
Slide 15: Growth Business: Smart Power Vehicle and Robotics
Growth Business Smart Power Vehicle and Robotics SPV Business Robotics Business Decrease in sales and profits due to lower sales volumes Despite firm demand in the automotive equipment sector, sales brought on by continued market inventory adjustments. and profits decreased due to a protracted slugg
Slide 16: @ YAMAHA
@ YAMAHA FRevs your Hear
Slide 17: Unit Sales/Net Sales by Region (Q3)
Unit Sales/Net Sales by Region (Q3) Motorcycle Unit Sales Motorcycle Net Sales 2022 2023 vs. 2022 2023 vs. (1,000 units) (¥ Bil.) Q3 Q3 2022 Q3 Q3 2022 Japan 71 55 78% Japan 45.2 31.0 69% N. America 53 60 113% N. America 46.4 57.0 123% Europe 154 187 121% Europe 142.1 177.9 125% Asia 2,879 2,912 101
Slide 18: Financial Condition
Financial Condition 2022 2023 (¥ Bil.) Q3 Q3 Cash flows from operating 101.2 99.4 Cash flows from investing -36.4 -82.5 Free cash flow 64.8 17.0 Cash flows from financing 2.0 -1.7 Capital expenditures 50.5 60.7 Depreciation 43.1 46.5 R&D expenditures 76.2 85.5 End of End of (¥ Bil.) December 2022 Se
Slide 19: Foreign Exchange Effects (vs. 2022)
Foreign Exchange Effects (vs. 2022) Q3 (¥ Bil.) US$ EURO Other Total Foreign exchange effects on HQ 12.9 8.8 1.8 23.6 imports and exports Foreign exchange effects on 0 0 3.0 3.0 purchases (overseas subsidiaries) Conversion effects on gross income 6.5 5.1 10.0 21.6 (overseas subsidiaries) Conversion
Slide 20: @ YAMAHA
@ YAMAHA FRevs your Hear