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Revision of Forecasts for Consolidated Business Results for the Fiscal Year Ending December 31, 2021

May 14, 2021

IWATA, May 14,2021—Yamaha Motor Co., Ltd. (Tokyo: 7272) hereby announces that at the Board of Directors meeting held today, the Company has decided to revise the forecast announced on February 12, 2021 for its consolidated business results for the fiscal year ending December 31, 2021.

1. Revisions to Consolidated Business Results Forecast
(January 1, 2021 through December 31, 2021)

(1) Revision Content

Net Sales Operating Income Ordinary Income Net Income Attributable to Owners of Parent Earnings per Share
Original forecast (A)
(announced February 12, 2021)

Billion Yen
1,700

Billion Yen
110

Billion Yen
110

Billion Yen
72

Yen
206.05

Revised forecast (B)

1,735

130

135

90

257.56

Amount of change (B-A)

35

20

25

18

Percentage change (%)

2.1

18.2

22.7

25.0

Reference:
Results from previous fiscal year ended December 31, 2020

1,471.298

81.672

87.668

53.072

151.89

(2) Reasons for the Revisions

Upon reviewing our currency exchange rate forecasts for the second quarter of fiscal 2021 and onwards, we have revised our forecasts for net sales and various incomes. Note that this revised forecast does not reflect the effects of global lockdowns due to the rising spread of new coronavirus variants .

There are also no changes to the forecast for year-end dividends.

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