Q1 2026 Yamaha Corp Earnings Presentation Transcript

Aug 01, 2025 / 08:00AM GMT

Release Date Price: $7.03

Transcript

Jun Nishimura

Yamaha Corp - Executive Officer, Chief Director of Business

Hello, everyone. My name is Nishimura. I would like to present to you the financial results for the first quarter of the fiscal year ending March 2026.

Please turn to the first page, titled Q1 highlights. First, an overview of the financial results. These are the results for the first quarter of the fiscal year ending March 2026. While the slowdown in audio equipment was as expected, the recovery pace for musical instruments, particularly pianos, was slow. Additionally, the appreciation of the yen contributed to a decline in revenue.

Although we work to contain SG&A, profit declined due to factors such as the yen appreciation, the impact of additional US tariffs and a deterioration in the product mix caused by a decline in sales of audio equipment for

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