Yamaha Motor: Consolidated Business Results Summary ‐ Full Fiscal Year Ending December 31, 2024

Yamaha Motor Co., Ltd. (Tokyo: 7272) announces its consolidated business results for the full 2024 fiscal year.

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Revenues were 2,576.2 billion yen (an increase of 161.4 billion yen or 6.7% compared with the previous fiscal year) due to more unit sales and higher prices per unit for models sold in Brazil and India in our core business of motorcycles.

As for operating income, after recording the effects soaring prices had on raising labor costs and other SG&A expenses; expenses linked to conducting reviews of our business structure, such as inventory valuation reductions; and impairment losses on certain fixed assets in the SPV and RV businesses; the final figure for 2024 was 181.5 billion yen (a decrease of 62.4 billion yen or 25.6%).

With the decrease in operating income, net income attributable to owners of parent was 108.1 billion yen (a decrease of 50.4 billion yen or 31.8%).

For the full consolidated fiscal year, the U.S. dollar traded at 152 yen (a depreciation of 11 yen from the previous fiscal year) and the euro at 164 yen (a depreciation of 12 yen).

Forecast of Consolidated Business Results for the Fiscal Year Ending December 31, 2025

We expect emerging market motorcycle demand in the Land Mobility business to remain robust and for outboard motor demand in the Marine Products business to make a gradual recovery.

In terms of risks, we anticipate price hikes for aluminum and other raw materials as well as for labor and energy costs to continue going up. In response to these potential risks, we will work to reduce costs and improve productivity.

Furthermore, we will also be conducting structural reforms for the SPV and RV businesses in order to improve profitability, while with our core businesses, our efforts will be towards achieving sustainable growth by focusing on R&D, new product development, and upgrading our production equipment. The forecast consolidated business results for FY2025 are as follows:

Revenue: 2,700.0 billion yen (an increase of 123.8 billion yen or 4.8% from FY2024)

Operating Income: 230.0 billion yen (an increase of 48.5 billion yen or 26.7% from FY2024)

Net Income: 140.0 billion yen (an increase of 31.9 billion yen or 29.5% from FY2024)

Details: https://global.yamaha-motor.com/news/2025/0212/result.html

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