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YAMAHA, Net Income Forecast for the Fiscal Year Revised Downward by 21%

Fri Aug 1, 2025 3:30 pm JST Earnings

7951 YAMAHA CORPORATION 【IFRS】

Earnings Report

YAMAHA CORPORATION <7951> [TSE Prime] announced its financial results (based on IFRS) after the market closed on August 1st (15:30). The consolidated net income for the first quarter of the fiscal year ending March 2026 (April to June) significantly dropped 74.7% from the same period last year to 2.38 billion yen.

In addition, the full-year forecast for consolidated net income has decreased 21.1%, from the previous forecast of 28.5 billion yen to 22.5 billion yen (compared to 13.3 billion yen in the previous period), leading to a reduction in the profit growth rate from 2.1 times to 68.5%.

In the most recent three-month period, from April to June (1Q), the operating profit margin drastically worsened from 8.2% in the same period last year to 4.4%.

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Actual Results

Accumulated Results 1st Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Jun, 2023 106,196 6,626 9,806 6,488 12.8 45.1 Aug 2, 2023 IFRS
Apr - Jun, 2024 112,146 9,191 13,411 9,418 19.1 147.8 Jul 31, 2024 IFRS
Apr - Jun, 2025 103,888 4,589 3,788 2,382 5.3 ー Aug 1, 2025 IFRS
YoY -7.4% -50.1% -71.8% -74.7% -72.4%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 455,000 38,500 40,500 28,500 63.3 26 May 8, 2025 IFRS
Mar, 2026 New 452,000 30,000 31,500 22,500 50.0 26 Aug 1, 2025 IFRS
Revision Rate -0.7% -22.1% -22.2% -21.1% -21.1%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 228,134 11,951 9,071 5,262 10.7 12.33 Nov 1, 2024 IFRS
Apr - Sep, 2025 Guidance ー ー ー ー － 13 May 8, 2025 IFRS
YoY － － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 462,866 28,999 37,629 29,642 58.6 24.67 May 8, 2024 IFRS
Mar, 2025 462,080 20,695 22,462 13,351 27.6 25.33 May 8, 2025 IFRS
Mar, 2026 Guidance 452,000 30,000 31,500 22,500 50.0 26 Aug 1, 2025 IFRS
YoY -2.2% +45.0% +40.2% +68.5% +81.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 112,146 9,191 13,411 9,418 19.1 8.2 Jul 31, 2024 IFRS
Jul - Sep, 2024 115,988 2,760 -4,340 -4,156 -8.4 2.4 Nov 1, 2024 IFRS
Oct - Dec, 2024 122,556 8,372 15,045 9,026 18.4 6.8 Feb 5, 2025 IFRS
Jan - Mar, 2025 111,390 372 -1,654 -937 -1.9 0.3 May 8, 2025 IFRS
Apr - Jun, 2025 103,888 4,589 3,788 2,382 5.3 4.4 Aug 1, 2025 IFRS
YoY -7.4% -50.1% -71.8% -74.7% -72.4%

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