Yamaha Motor Posts Record Q3, Raises Full-Year Dividend Forecast

Yamaha Motor Co., Ltd. achieved record third-quarter results for its fiscal year 2026, posting a 16.0% year-over-year increase in revenue to ¥2.215 trillion. This surge in sales, coupled with effective cost management and gains from asset sales, propelled a 109.6% jump in operating profit to ¥235.2 billion, and a 43.1% increase in net profit attributable to owners of the parent to ¥173.4 billion.

The strong performance was broad-based, with notable contributions from the Land Mobility and Marine segments. The Land Mobility segment saw a 19.9% revenue increase, fueled by robust demand for motorcycles in Southeast Asia and India, offsetting a decline in sales in Japan and the US. The Marine segment also benefited from strong demand, particularly in Europe and Asia, despite a decrease in sales in North America. The Robotics segment experienced significant growth, with revenue up 30.4% due to increased demand for surface mounters, industrial robots, and semiconductor manufacturing equipment.

Despite headwinds from rising material costs, Middle East geopolitical tensions impacting procurement costs, and currency exchange rates, Yamaha Motor managed to expand its profit margins through a combination of price increases, cost reduction measures, and the positive impact of asset sales. The company also highlighted the successful restructuring of its US operations and a new collaboration with John Deere as key drivers of the positive results.

Reflecting its confidence in its full-year outlook, Yamaha Motor has increased its year-end dividend forecast to ¥35 per share, bringing the total annual dividend to ¥60 per share – a 10 yen increase from its previous forecast. This decision reflects the company’s strong performance and positive cash flow, enabling a more substantial return to shareholders. The company anticipates achieving its highest-ever annual profit, despite continued headwinds like currency fluctuations and restructuring costs.