Yamaha ups full-year outlook and announces share buyback despite Q2 revenue dip

Yamaha Corporation reported a second-quarter consolidated revenue decrease of 5.2% year-on-year to 216.4 billion yen. Core operating profit for the period also fell 37.4% to 12.8 billion yen. Despite these declines, interim profit attributable to owners of the parent significantly increased 85.4% to 9.8 billion yen, mainly due to an impairment loss related to piano production facilities in the previous fiscal year.

The company has revised its full-year earnings forecast upward for the fiscal year ending March 31, 2026. This is due to increased musical instrument sales in North America and emerging countries, as well as favorable exchange rate revisions. Revenue is now projected at 458.0 billion yen, core operating profit at 33.0 billion yen, and profit attributable to owners of the parent at 23.0 billion yen.

Additionally, Yamaha announced a share buyback program to enhance shareholder returns and capital efficiency. This program involves a maximum of 20,000,000 shares, representing 4.4% of outstanding shares excluding treasury shares, with a total acquisition amount of up to 15.0 billion yen. The acquisition period is from November 5, 2025, to March 31, 2026, with all purchased shares slated for cancellation.