Yamaha Motor Co., Ltd. reported an 88.6% increase in first-half operating profit and raised its full-year forecast. At the same time, the company announced that it would pursue structural reform in its OLV business. Here is what the results reveal.
The company raised its consolidated full-year earnings forecast for the fiscal year ending December 2026. Revenue was raised from ¥2.7 trillion to ¥2.9 trillion, operating profit from ¥180 billion to ¥260 billion, and net profit from ¥100 billion to ¥170 billion. First-half results alone reached a level equivalent to more than 60% of the revised operating profit forecast.
By segment, the Land Mobility and Marine businesses remained strong. Land Mobility operating profit increased on expanding demand in Europe and the United States and higher sales in emerging markets, while Marine revenue and profit also rose on stronger demand. Although the OLV business remained in the red, its operating loss narrowed as selling, general and administrative expenses were reduced.
The Robotics business increased revenue and operating profit, supported by a recovery in demand and growing demand related to semiconductors. Profit in the Financial Services business also increased as finance receivables grew and interest margins improved.
The company announced structural reform of the OLV business on 4 August, and attention is focused on progress under its medium-term plan alongside the strong first-half results.