Yamaha Corp Shares Drop 7.6% on Earnings Miss

Yamaha Corp reported FY2025 core operating profit of ¥31.9 bn, below its ¥33 bn guidance, causing a 7.6% share decline in Tokyo.
The company set FY2026 profit guidance at ¥38 bn, below the ¥40 bn consensus, citing a ¥7.7 bn cost headwind from memory, resins and metals.
Promotional spending in Europe, higher SG&A in North America and product mix drove the Q4 shortfall, despite currency tailwinds and lower tariffs.
Management will try pricing optimization to offset rising memory, resin and metal costs, but execution risk remains as second‑half procurement remains uncertain.