YAMAHA MOTOR Consolidated Business Results Summary — Full Fiscal Year Ending December 31, 2023 —

IWATA, Japan--(BUSINESS WIRE)--Yamaha Motor Co., Ltd. (Tokyo: 7272) announces its consolidated business results for the full 2023 fiscal year.

From HIDAKA, Yoshihiro
President, Chief Executive Officer and Representative Director

I am happy to report that in fiscal 2023, we set new records for consolidated net sales and operating income. As demand for outdoor recreation slowed, primarily in developed markets, it remained strong for our core products of motorcycles and large outboard motors. Also, our efforts to counter rising costs by passing on prices and the weak yen contributed to us posting higher sales and profits.

Consolidated Business Results

Net sales were 2,414.8 billion yen (an increase of 166.3 billion yen or 7.4% compared with the previous fiscal year) and operating income was 250.7 billion yen (an increase of 25.8 billion yen or 11.5%). Ordinary income was 242.0 billion yen (an increase of 2.7 billion yen or 1.1%) and net income attributable to owners of parent was 164.1 billion yen (a decrease of 10.3 billion yen or 5.9%). These figures once again reset the Company’s record for net sales and operating income. For the full consolidated fiscal year, the U.S. dollar traded at 141 yen (a depreciation of 9 yen from the previous fiscal year) and the euro at 152 yen (a depreciation of 14 yen).

Forecast of Consolidated Business Results for the Fiscal Year Ending December 31, 2024

Yamaha Motor has chosen to adopt International Financial Reporting Standards (IFRS) from fiscal 2024 onward, thus the consolidated business results forecast for fiscal 2024 have been prepared according to said standards. The reference to fiscal 2023’s figures, which are based on Japanese generally accepted accounting principles (GAAP), are to provide a simple comparison.

Revenue	2,600 billion yen (an increase of 185.2 billion yen or 7.7% from FY2023)
Operating Income	260.0 billion yen (an increase of 9.3 billion yen or 3.7% from FY2023)
Net Income	175.0 billion yen (a decrease of 10.9 billion yen or 6.6% from FY2023)

These forecast figures are based on the U.S. dollar trading at 140 yen during the fiscal year (an appreciation of 1 yen from FY2023) and the euro at 150 yen (an appreciation of 2 yen).