I think it's fake, the label is worrying, clumsily printed & doesn't match the shape of the printed oval to the shape of the actual sticker.
A picture of the headstock from the OP would help to check the logo & font used more closely, fakes tend to get the M wrong.
Note the centre of the M shouldn't reach the baseline.
Just to provide some pictorial comparison, this is the label, serial number (ringed) & headstock from a real [if not magnificent] Yamaha acoustic.
Another thing to worry about is that no Yamaha pure acoustic has a cutaway - only the 'electric' acoustics have that.