During the consolidated fiscal year under review, the global economy generally remained on a moderate recovery trend although it experienced increased uncertainty due to changes in the trade environment and heightened geopolitical risks both associated with U.S. tariff policies, leading to a restructuring of global supply chains. In Japan, the automotive industry where the Group operates experienced cost increases and supply chain disruptions arising from the U.S. tariff policies as well as a re-emergence of semiconductor supply concerns, resulting in unavoidable production adjustments in some cases.
In the automotive industry, the number of four-wheeled vehicles sold globally was 91.72 million units in calendar year 2025 (up 3.5% year on year), surpassing the 90-million-unit mark once again. In the United States, the number of cars sold was 16.49 million units in the calendar year (up 3.2% year on year), surpassing the previous year for the third consecutive year. In addition to the resilience of the economy, the US market was supported throughout the year by rush demand in anticipation of tariff policies under the new administration. In Europe, the number of cars sold was 13.27 million units in the calendar year (up 2.4% year on year), surpassing the previous year for the third consecutive year. In China, driven by the continued implementation of the government’s car trade-in subsidy policy, the number of cars sold reached 34.41 million units in the calendar year (up 9.5% year on year), surpassing the previous year for the fifth consecutive year and reaching a record high level. In Japan, the number of cars sold was 4.53 million units in FY2025 (down 0.9% year on year), falling below the previous year for the first time in four years. The number of registered vehicles was 2.84 million units (down 3.5% year on year), declining for the first time in four years mainly due to many models being in the late stage of their life cycles. The number of mini vehicles sold was 1.68 million units (up 3.8% year on year), increasing for the second consecutive year, driven by a recovery in supply following shipment suspensions associated with vehicle certification fraud.
Regarding two-wheeled vehicles, sales in India, the largest market, reached 20.96 million units in the calendar year (up 7.3% year on year), surpassing the previous year for the fifth consecutive year, supported by a recovery in demand in regional and rural areas and continued infrastructure investment. In Indonesia, the world's second-largest market, sales reached 6.41 million units in the calendar year (up 1.3% year on year), surpassing the previous year for the fifth consecutive year, supported by domestic demand driven by the government's economic measures.
In Japan, sales reached 0.33 million units in FY2025 (up 5.6% year on year), surpassing the previous year for the first time in three years, driven by strong sales of mini-sized motorcycles.
Under these circumstances, the Group has entered the third year of its Medium-Term Management Plan (FY2023 - FY2027), the phase of “shifting resources toward a growth portfolio”, and continues to promote its priority measures of “Responding to Mobility Evolution,” “Strengthening the Management Foundations” and “Soundness of Financial Structure” to achieve the Plan.
As a result, for the consolidated fiscal year under review, the Company recorded consolidated net sales of 348,599 million yen (down 0.2% year on year), consolidated operating income of 23,908 million yen (up 14.2% year on year), and consolidated ordinary income of 23,945 million yen (up 21.0% year on year). This was due to strong performance in the motorcycle business in Asia and South America and in the Information Services Operations, despite continued sluggish sales in the automobile business in China. Additionally, the Company recorded profit before income taxes of 17,706 million yen (down 2.1% year on year) and profit attributable to owners of the parent of 11,820 million yen (down 0.4% year on year) due to impairment losses of 5,377 million yen at two subsidiaries in China, despite cost savings achieved mainly in expense items.
We ask you, our shareholders, for your continued support and guidance.
Representative Director, PresidentSadami Hino
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