Yamaha Motor Posts Record First-Half Revenue and Profit, Raises Full-Year Forecast
Yamaha Motor logged record first-half revenue and operating profit on strong motorcycle sales and a weak yen, and raised its full-year outlook despite tariff and raw-material headwinds.
- 1,498.0 billion yen
- 88.6%
- 113.9 billion yen
- 50 yen per share
What Happened
Yamaha Motor reported record first-half revenue, operating profit, and net profit for fiscal 2026, helped by higher motorcycle sales, cost reductions, and a weaker yen. Revenue rose 17.2% to 1,498.0 billion yen and operating profit jumped 88.6% to 158.5 billion yen, with net profit up 114.7% to 113.9 billion yen. The company said U.S. tariffs and higher procurement costs were offset by higher unit sales, beneficial foreign exchange effects, and reduced SG&A expenses.
- Land Mobility: revenue up 21.8% to 984.6 billion yen; operating profit up 89.8% to 112.7 billion yen. Motorcycle sales grew in Europe, the U.S., India and ASEAN despite a Japan decline; the Smart Powe
- Marine Products: revenue up 7.4% to 300.7 billion yen; operating profit up 18.3% to 46.0 billion yen. Outboard sales rose in Asia and stayed flat in North America and Europe; personal watercraft unit
- Outdoor Land Vehicles: revenue up 3.3% to 80.3 billion yen; operating loss improved to 12.0 billion yen from 13.7 billion yen. ATVs performed well while ROVs struggled; golf car sales fell in the U.S.
- Robotics: revenue up 24.5% to 60.1 billion yen; operating profit of 3.7 billion yen versus a 1.5 billion yen loss. Surface mounters were strong in China, industrial robots recovered, and semiconductor
- Financial Services: revenue up 18.1% to 63.6 billion yen; operating profit up 50.6% to 12.1 billion yen, helped by higher receivables and improved interest margins.
- Other Products: revenue down 11.6% to 8.7 billion yen; operating loss narrowed to 4.1 billion yen from 7.1 billion yen.
“We also posted higher profits thanks to increased unit sales, efforts to reduce expenses, and favorable foreign exchange rates. Additionally, Yamaha Motor recorded its highest numbers ever for revenue, operating profit, and net profit for a six-month period.”
For the second quarter, revenue and operating profit exceeded the original forecast, driven by motorcycle unit sales in emerging markets, a refund of IEEPA tariffs in the U.S., and continued yen depreciation. The company raised its full-year forecast, expecting revenue and profits to exceed the original forecast despite rising raw material costs from the Middle East situation and one-time expenses for Outdoor Land Vehicle structural reforms.
The new full-year outlook assumes the U.S. dollar at 159 yen and the euro at 182 yen. The company left its annual dividend forecast unchanged at 50 yen per share, as announced on February 13, 2026. Yamaha also said its structural reforms for its U.S. operations are proceeding and that it has formulated a policy for implementing reforms to the OLV business.
Previously from Yamaha Motor
Yamaha Motor has said it will stop building recreational off-highway vehicles at its Georgia plant, cut about 200 full-time jobs, and rely on partner companies for supply as part of a sweeping restructuring of its outdoor land vehicle operations. The company is shifting to an OEM supply model for these vehicles.
Background drawn from MotorClaw's earlier coverage of Yamaha Motor's official releases.
Why this matters
Yamaha's record results show how a weaker yen and strong motorcycle demand in Europe, the U.S., India and ASEAN helped offset U.S. tariffs and higher procurement costs. The upward revision signals management expects record full-year profits despite rising raw material costs from the Middle East and restructuring expenses for its Outdoor Land Vehicle business. The company is proceeding with structural reforms for its U.S. operations, which include changes…
Terms in This Story
- SG&A
- Selling, general and administrative expenses; day-to-day operating costs such as salaries, rent, and marketing.
- Operating profit
- Earnings from core business operations before interest and taxes.
- IEEPA tariffs
- Tariffs imposed under the International Emergency Economic Powers Act; here referring to U.S. tariffs Yamaha received a refund on.
- Consolidated
- Financial results that combine a parent company and its subsidiaries into a single report.
Summarised from the linked release; details can be imperfect — always verify against the original source.