Yamaha shares first half 2025 results
Yamaha has released its financial results for the first six months of fiscal year 2025, which ended June 30.
Overall revenue for the period was ¥1,277.8 billion, down 5.2% compared to the same period of the previous fiscal year. Operating income was ¥84.1 billion, down 45.4%, and net income attributable to owners of parent was ¥53.1 billion, down 52.9%.
Declining unit sales in motorcycles, personal watercraft, and golf cars resulted in lower revenues. For operating income, the decrease in unit sales and higher R&D expenses in the core motorcycle and marine product businesses, as well as an increase in labor costs and other SG&A expenses, brought revenue down.
Marine segment
Revenue in the marine segment was ¥280.0 billion, down 5.9% compared with the same period of the previous fiscal year. Operating income was ¥38.9 billion, down 26.5%.
Demand for outboard motors in the company’s main market, the U.S., was lower. However, overall unit sales were on par with the previous year due to a rush of demand before the implementation of price changes in the U.S., primarily for small and midrange outboard models.
There was a decrease in demand for personal watercraft (PWC) in the U.S., which resulted in a year-on-year decrease in unit sales. As a result, the marine products business as a whole took in lower revenue. As for operating income, the lower unit sales of personal watercraft and higher procurement expenses, along with an increase in R&D expenses and an increase in labor costs and other SG&A expenses, led to a decrease in profits.
Torqeedo acquisition
Regarding the company’s acquisition of Torqeedo, Yamaha state: “The purpose of the acquisition of Torqeedo is to strengthen development capabilities in the ‘Electric’ business, part of the ‘Marine CASE’ strategy that the company is promoting as its Medium-Term Management Plan. It will also accelerate our efforts to carbon neutrality in the marine industry and contribute to the early establishment of a lineup of small electric propulsion units. Furthermore, by combining the know-how cultivated in hull design technology and marine engine technology, the company aims to create synergies in the medium-sized electric outboard motor market and become a leading company in the growing market of electric propulsion vessels.”
