Announcement of Yamaha Motor's Voluntary Adoption of International Financial Reporting Standards (IFRS)
February 15, 2024 at 06:02 am EST
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Yamaha Motor Co., Ltd. (Tokyo: 7272) announces that at the meeting of Board of Directors held on February 14, 2024, it was decided to voluntarily adopt the International Financial Reporting Standards (IFRS) for consolidated financial statements and related consolidated financial documents in place of the existing Japanese Generally Accepted Accounting Principles (Japanese GAAP), from the first quarter of the fiscal year ending December 31, 2024.
The decision to voluntarily apply IFRS was taken with the aims of increasing the feasibility of international comparison of financial information in financial markets and improving the level of management globally.
Yamaha Motor Co., Ltd. specializes in the construction and marketing of motorcycles, all terrain vehicles and boats. The group also develops engine manufacturing activity. Net sales break down by family of products as follows:
- sale of motorcycles (65.3%): 4.8 million units sold in 2022. Yamaha Motor Co., Ltd. also offers all-terrain vehicles, off-road recreational vehicles, snowmobiles and electric bicycles;
- manufacturing of marine motor equipment and watercraft (23%): ooutboard engines, jet skis, fishing boats, utility boats, etc. ;
- sale of industrial machines and robots (5.2%);
- provision of financial services (2.8%);
- other (3.7%): primarily golf carts, snow blowers, generators and multi-purpose engines and automobile engines and components.
Net sales are distributed geographically as follows: Japan (7.3%), Asia (40.1%), North America (25.3%), Europe (13.9%) and other (13.4%).
YAMAHA MOTOR CO., LTD. 
