Press release -

Yanmar Announces FY2023 Financial Results

Osaka, Japan (June 19, 2024) - Yanmar Holdings Co., Ltd. has announced its financial results for the period ending March 31st, 2024.

Consolidated Group Results for FY2023

Consolidated results for the 2023 fiscal year saw a 5.8% increase in revenue to 1 trillion 81.4 billion JPY with ordinary income growing 30.1% on the previous year to 80.4 billion JPY.　Yanmar has achieved record highs in both revenue and ordinary income, driven by solid demand in the international power generator market and firm marine engine demand supported by a steady maritime market. Additionally, the international sales ratio surged to 61.2% due to the growth in demand from international markets.

Fiscal 2023 consolidated results (April 1st, 2023, to March 31st, 2024)

Units: million JPY, vs previous year

Revenue Operating income Ordinary income Income attributable to new company holdings
vs previous year vs previous year vs previous year vs previous year
FY2023 1,081,433 5.8% 61,342 27.5% 80,419 30.1% 49,593 18.1%
FY2022 1,022,283 17.3% 48,110 32.8% 61,830 26.2% 41,992 14.2%

*Results are based on exchange rates of 145 JPY to the U.S. dollar and 157 JPY to the euro.

    Consolidated business outlook for FY2024

    For the next fiscal year, ending March 31, 2025, Yanmar expects continued strong performance in the agricultural machinery sector in international markets, particularly in emerging countries. However, domestic Japanese demand for agricultural machinery is expected to remain sluggish due to persistently high prices for production materials. The industrial engine and construction machinery sectors are predicted to remain flat in North America and Europe. In China, it is anticipated that the level of demand will be consistent with that of last year. Furthermore, the company anticipates a continuous increase in costs due to factors such as inflation and rising labor expenses.

    Guided by its medium-term strategy, Yanmar will accelerate the development of battery-powered industrial machinery and engines compatible with new fuels to meet our carbon neutrality goals. The company will also advance the YANMAR GREEN CHALLENGE 2050 for the realization of a sustainable society. Additionally, Yanmar will focus on furthering digital transformation (DX) and enhancing IT infrastructure to establish a next-generation management foundation.

    Consolidated business outlook for FY2024 （April 1st, 2024 to March 31st, 2025）

    percentages indicate change on the previous fiscal year

    Revenue Operating Income Ordinary Income Income attributable to new company holdings
    FY2024 (estimate) million yen % million yen % million yen % million yen %
    1,050,000 -2.9 44,000 -28.3 50,000 -37.8 34,000 -31.5

    Forecasts are based on exchange rates of 140 JPY to the U.S. dollar and 150 JPY to the euro.
    The above forecasts are based on information available as of the date of publication of this document, and actual results may differ significantly from the forecasts due to future uncertainties and various factors.

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    Note: Information contained in the news release is valid at the time of publication and may differ from the most recently available information.

    [Inquiries for further information]

    Corporate Communications, Yanmar

    newsroom@yanmar.com

    Contacts

    Paul Bartels

    Paul Bartels

    Press contact Marketing Communications Manager Marketing Division +1 (770) 877 7833

    From sprawling fields to the oceans and our global cities, Yanmar is active in every part of the planet earth that touches our lives. Yanmar maintains an unparalleled reputation for reliability and efficiency based on the strength of its technologies in these domains. We provide innovative and diverse solutions creating new wealth and value for our customers and our community.

    With beginnings in Osaka, Japan in 1912, Yanmar was the first ever to succeed in making a compact diesel engine of a practical size in 1933. Moving on, with industrial diesel engines as the cornerstone of the enterprise, Yanmar has continued to expand its product range, services, and expertise to deliver total solutions as an industrial equipment manufacturer. As a provider of small and large engines, agricultural machinery and facilities, construction equipment, energy systems, marine, machine tools, and components — Yanmar’s global business operations span seven domains.
    On land, at sea, and in the city, Yanmar’s Mission of “providing sustainable solutions focused on the challenges customers face, in food production and harnessing power, thereby enriching people’s lives for all our tomorrows,” stands testament to Yanmar’s determination to provide us with “A Sustainable Future”.

    Yanmar Holdings Co., Ltd.

    YANMAR FLYING-Y BUILDING, 1-32 Chayamachi, Kita-ku
    530-8311 Osaka
    Japan

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