YamahaYAMAHA CORPORATION7951東証プライムその他製品FY ending Mar 2026, consolidated, IFRS

Yamaha FY ending Mar 2026 results

About 66% of Yamaha's sales come from Music, with Professional and consumer audio and Other making up much of the rest.

Out of every ¥100 of sales, about ¥6 is left as operating profit.

Revenue changed +0.7% from the prior year, operating profit +41.5%.

Revenue and profit pattern

Revenue and profit upProfit grew faster

Revenue +0.7% · profit +41.5%, calculated from disclosed figures.

Operating leverage: 58.94× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue: +0.7%¥462.1B → ¥465.3B
Gross profit: -0.7%¥176.1B → ¥175B
Operating income: +41.5%¥20.7B → ¥29.3B
Net income attributable to owners: +77.7%¥13.4B → ¥23.7B
Operating cash flow: -17.2%¥55.3B → ¥45.8B
Free cash flow: -2.2%¥32.3B → ¥31.6B

Results at a glance

Revenue for the FY ending Mar 2026 was ¥465.3B, almost unchanged at +0.7%.
Gross profit slipped -0.7% to ¥175B as costs went up.
Even so, operating income rose +41.5% to ¥29.3B and net income climbed +77.7% to ¥23.7B.
Operating cash flow, however, fell -17.2% to ¥45.8B.

What drove the change

Guitar sales grew strongly, led by North America, and digital instruments sold more in every region; weaker piano sales in China and the end of a demand spike for pro audio gear held revenue back
US tariffs and higher costs for parts, materials, labor and shipping squeezed core earnings
Operating income rose mainly because the prior year carried heavy restructuring charges, including impairment of piano production equipment; this year's cost of exiting the golf business was smaller. Foreign exchange gains also lifted financial income and net income

Things to watch

Most sales come from outside Japan, so economic slowdowns and weaker demand abroad hit results directly
Sourcing and production depend on specific regions such as China and Indonesia, so geopolitical trouble there could disrupt supply
Currency swings, especially the euro against the yen, have a large effect on profit

Annual securities report (202nd fiscal period) / Management's analysis of financial position, operating results and cash flows · Annual securities report (202nd fiscal period) / Business risks

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

For every ¥100 Yamaha sells, how much goes where, and how much is kept.

FY ending Mar 2026

Cost of sales: ¥62
SG&A: ¥31
Other costs: ¥1
Operating profit: ¥6
Net profit kept: ¥5

Annual margin trends

Gross margin37.6%

Operating margin6.3%

Net margin5.1%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Music¥304.9B
66%
Industry: TVs, Audio & Musical Instruments
Professional and consumer audio¥142.4B
31%
Industry: TVs, Audio & Musical Instruments
Other¥18B
4%

Profit by segment

※ Segments without disclosed profit are drawn entirely as costs

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書－第202期(2025/04/01－2026/03/31)
ID S100YJE72026-06-25Open
EDINET (FSA Japan)
有価証券報告書－第201期(2024/04/01－2025/03/31)
ID S100W0I32025-06-23Open
EDINET (FSA Japan)
訂正有価証券報告書－第200期(2023/04/01－2024/03/31)
ID S100TXL32024-06-28Open
EDINET (FSA Japan)
有価証券報告書－第199期(2022/04/01－2023/03/31)
ID S100R9AH2023-06-30Open
EDINET (FSA Japan)
有価証券報告書－第198期(令和3年4月1日－令和4年3月31日)
ID S100O9VG2022-06-23Open
EDINET (FSA Japan)
有価証券報告書－第197期(令和2年4月1日－令和3年3月31日)
ID S100LMW22021-06-25Open

Extracted from XBRL: 44 / Derived from other figures: 1

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