Yamaha Motor Co. released its first quarter financial results yesterday.
Revenues for the period were JPY$625.9 billion ($4 billion), a decrease of 2.5% compared with the prior-year quarter. Operating income was JPY$43.6 billion ($279 million), a decrease of 44.1% year-over-year.
“We experienced a decline in both revenue and profits in the first quarter of fiscal 2025, primarily due to lower unit sales of motorcycles, personal watercraft and low-speed mobility products (golf carts), higher R&D expenses, and higher labor costs and other selling, general and administrative expenses,” Motofumi Shitara, president, CEO and representative director of Yamaha Motor, said in a statement.
Marine revenues were JPY$140.2 billion ($897.3 million), a decrease of 1.2% compared with theame period in 2024. Operating income was JPY$19.8 billion ($126.7 million), a decrease of 22.3%.
Outboard unit sales fell below last year’s results due to decreased demand in the United States, Asia and other regions. Demand for personal watercraft in the main, U.S. market was on par with last year, but unit sales were lower, the statement said.
Yamaha made no changes to the 2025 forecast made in February for full-year revenue of JPY$2.7 trillion ($17.3 billion).
“As for the full-year forecast, there are many uncertainties in play, including the impact of tariffs, and we are carefully assessing the situation,” Shitara said in the statement. “Going forward, should any facts emerge that require us to make revisions, we will disclose them in a timely manner. In terms of the impact of tariffs, in the short term, all of us at Yamaha Motor are working together to minimize the effects of these tariffs through companywide cost controls, pricing strategies and flexible production adjustments aligned with demand trends and inventory levels.”
