Yamaha Motor Co., Ltd. reported that its net income attributable to owners of parent for the fiscal year 2024 was 108.1 billion yen, a decrease of 50.4 billion yen or 31.8% from the prior year.
Annual operating income was 181.5 billion yen, a decrease of 62.4 billion yen or 25.6% from the previous year.
But revenues for the year were 2.576 trillion yen, an increase of 161.4 billion yen or 6.7% from the previous fiscal year, due to more unit sales and higher prices per unit for models sold in Brazil and India in its core business of motorcycles.
For the fiscal year ending December 31, 2025, the company expects 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, the company anticipates 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, the company will work to reduce costs and improve productivity.
Furthermore, the company said it will also be conducting structural reforms for the SPV and RV businesses in order to improve profitability, while with core businesses, our efforts will be towards achieving sustainable growth by focusing on R&D, new product development, and upgrading its production equipment.
For fiscal year 2025, the company projects net income to be 140.0 billion yen, an increase of 31.9 billion yen or 29.5% from fiscal year 2024. Annual operating income is projected to be 230.0 billion yen, reflecting an increase of 48.5 billion yen or 26.7% from the previous fiscal year. Revenue is expected to reach 2.70 trillion yen, representing an increase of 123.8 billion yen or 4.8% from fiscal year 2024.
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