Yamaha Motor Co., Ltd.

Thank you very much for joining us at the third half-term settlement meeting of the Yamaha発動機12月期第3四半期決算説明会 Thank you very much for joining us at the third half-term settlement meeting of the Yamaha発動機12月期第3四半期決算説明会 Thank you very much for joining us at the third half-term settlement meeting of the Yamaha発動機12月期第3四半期決算説明会 Thank you very much for joining us at the third half-term settlement meeting of the Yamaha発動機12月期第3四半期決算説明会 Thank you very much for joining us at the third half-term settlement meeting of the Yamaha発動機12月期第3四半期決算説明会 Thank you very much for joining us at the third half-term settlement meeting of the Yamaha発動機12月期第3四半期決算説明会 Thank you very much for joining us at Today, I will explain the details of each business after explaining the summary of the settlement. After the explanation, we will carry out a Zoom presentation for the media, analysts, and investors. The settlement announcement materials are posted on the corporate site of Yamaha Automotive. Let's start the settlement announcement.

I am Hashimoto, the founder of Yamaha. Thank you very much for joining us today. We would also like to thank you for your understanding and support of our business activities. Now, I will explain the summary of the settlement. First of all, here are the points of the settlement. Please look at page 4. The results of the third quarter were that sales increased mainly in ASEAN and India in the motorcycle business. and the robotics industry continued to improve, and the sales of each industry increased. In addition to the increased sales and control of expenses, the U.S. fixed asset sales were also realized early and increased. As a result, sales revenue, business profits, and long-term profits have become the top three categories in the past. In addition, the U.S. structural reform has progressed as planned, and the ROV has announced cooperation with John Deere. I will explain the details later. Next, let's look at the future prospects. For the long-term business prospects, we expect to see a lot of improvements. For the end of the year, we expect to see a lot of improvements, such as the rise of the stock market, the U.S. debt, and the cost of structural reform. We aim to achieve high-quality sales, increase in prices, and reduce expenses to achieve high-quality sales even in the long term. In addition, through our previous efforts, we have seen a significant increase in profits since last year. Based on this growth in profits and cash flow, In order to expand the supply and demand for the shareholders, we will draw up the forecast for the end of the year. The end of the year forecast is expected to be 35 yen per share of 10 yen increase from the conventional forecast to 10 yen per share of 10 yen increase from the conventional forecast to 35 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen increase from the conventional forecast to 30 yen per share of 10 yen Next is the number of shipments and stock. Please look at page 5. The table on the left shows the total demand and number of shipments for each main product, and the comparison with previous year's results. The number of shipments and stock has increased in the main area where NIRIN is located. The number of shipments in North America has decreased, but the number of shipments in Europe has increased, and the number of shipments in the entire industry has also increased. The number of shipments has increased, but the number of shipments in Europe has increased, and the number of shipments in the entire industry has also increased. The number of shipments in Europe has increased, but the number of shipments in the entire industry has also increased. The number of shipments in Europe has increased, but the number of shipments in the entire industry has also increased. The number of shipments in Europe has increased, but the number of shipments in the entire industry has also increased. The number of shipments in Europe has increased, but the number of shipments in the entire industry has also increased. The number of shipments in Europe has increased, but the number of shipments in the entire industry has also increased. The number of shipments in Europe has increased, but the number of shipments in the entire industry has also increased. The number of shipments in Europe has increased, but Due to the high sales and stock reduction, the stock price has been slightly lower than the previous ideal level, but we will continue to improve the cash conversion cycle, including the revision of the ideal level. Next is the business data. Please see page 6. The results of the third quarter of 2026 are The sales revenue is 21,152,000,000 yen per year The sales profit is 23,520,000,000 yen per year The sales profit is 10,600,000,000 yen per year The net profit for the owners of the parent company is 1,734 billion yen, which is 401% of the previous year's cost. The EPS is 178.66 yen, which is 401% of the previous year's cost. The actual exchange rate is USD 159 and EUR 184. Next, let's look at the factors that affect the operating profit of each element. Please look at page 7. As you can see, the sales impact is 9.17 billion yen, The sum of those is 38.7 billion yen in growth, 6.3 billion yen in financial services, 3.11 billion yen in pricing, and 15.5 billion yen in other. The cost-effectiveness is minus 36.9 billion yen. The difference is 14.8 billion yen in cost down and 5.7 billion yen in cost up. In addition, 11.3 billion yen in cost reduction due to the reduction of research and development costs, 4.2 billion yen in cost reduction due to the reduction of half-sufficiency, 28.3 billion yen in cost reduction due to the reduction of持分法投資損益, The exchange rate has been increased by 4.32 billion yen, and the interest rate has been reduced by 18.7 billion yen. Next, I will explain the progress of the U.S. structural reform. Please look at page 8. First, let's look at the U.S. interest rate. Last year, there was an impact of 17.1 billion yen due to U.S. customs tax, and this year there is an impact of 5.43 billion yen. However, due to some changes in the conditions of customs tax, such as mutual customs tax and iron ore customs tax, we expect an impact of 45.3 billion yen in the latest forecast. We have planned to improve our revenue by 3.7 billion yen per quarter. The progress of each project is roughly as planned, and we have achieved a profit of about 3.64 billion yen by the end of the third quarter. As a response to the non-profit business, we announced the withdrawal of ROV from private production in the previous settlement, but on October 7, we announced cooperation with John Deere in the United States. On the right is the aim of the cooperation. Yamaha Motor Co., Ltd. and John Deere share values such as quality, durability, reliability, and performance. Based on these values, we carry out product development using each technology and knowledge, and we aim to expand the market by utilizing both. I will inform you again as soon as there is a specific development in the future. Next, I would like to welcome you. Please take a look at page 9. As I explained at the beginning, we are planning to increase the sales by the end of the year in terms of sales in 2026. The end-of-year payment is 10 yen, 35 yen per share, and the annual payment is planned to be 60 yen. According to this payment, the total success rate from 2025 is expected to be 54.9%. Next is the explanation of each business. This is the sales and operating profits of each business. Please look at page 11. MC business, Marine business, Robotics business, Financial services business are increasing and increasing. SPV business is increasing and operating losses are decreasing. All V business and other businesses have been reduced, and sales have been reduced. I will explain the details of each business. Please see page 12. First is the MC business. Sales revenues increased in addition to the increase in sales in advanced countries such as India and ASEAN, and increased as a result of price increases. Sales revenues increased in addition to the increase in sales, and increased as a result of price increases. In the future, we will continue to take into account the high demand in each market and aim to upgrade our MC business to the highest level. Next is the marine business. In addition to the increase in sales of shipments throughout the business, the sales revenue has increased due to price changes. In addition to the increase in sales, business profits have been increased due to the reduction in research and development costs and the reduction in return costs. The demand for the U.S. economy, which is the main market, has been declining due to the rise in the gold price and the rise in the oil price. We will expand sales in Europe, Asia, and the Middle East, and maintain profitability as a whole business. Let me introduce you to the new products of NIRIN. Please see page 13. From November 3rd, the world's largest motor cycle show will be held in Milano. New electric scooters N-MAX-E and X-CENTER-E will be held at EICMA. N-MAX-E is a popular model of N-MAX with high-quality driving and elegant styling. This is a model that combines the latest EV technology with comfortable operationability. Excenter-E has a smooth response that is unique to large-scale wheels and is comfortable and unique to EVs. Both models are products that have enhanced functionality at the same time We will continue to develop our efforts to achieve carbon neutrality. Next is the robotics business. Please look at page 14. Our company has increased sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales by increasing sales In addition to improving the profit margin, the effect of the financial swap evaluation zone, which was formed last year, has decreased and has increased. This is the SPV business and the OLV business. Please see page 15. First is the SPV business. The increase in the number of sales of e-kits has led to an increase in demand, but the increase in the cost of procurement and research and development costs has led to an increase in the number of sales of e-kits. On the other hand, the sales of ATVs have continued to decline. The number of sales decreased due to the end of the self-production of ROV with the reformation of the structure. In addition, the number of sales decreased due to the decrease in the number of sales in the U.S. market, which is the main market in the context of a tough competitive environment. The operating profit was reduced by the reduction in the cost of half-life and the reduction in the loss of fixed assets as a result of the structural reform. Finally, please look at page 16. On October 25, at the All Japan Road Race Championship held at Suzuka Circuit, and Nakasuga Nakasuga, who is a member of the Yamaha Factory Racing Team, won the championship. This championship was the last race of Nakasuga's career. In his 27-year race career, he was determined to win, and he was able to show off his excellence by passing through the challenge. Nakasuga's long-standing activities and contributions, as well as the fans who have supported him so far, I would like to express my sincere gratitude to all of the people involved. This concludes the explanation of the third quarter of the fiscal year in December of 2026. Thank you for your attention.

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