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Overview of Consolidated Performance in the Third Quarter of the Fiscal Year Ended March 31, 2004
(October 1, 2003, to December 31, 2003) |
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Overview of Results for the Third Quarter Ended December 31, 2003, and Outlook for the Full Fiscal Year Ending March 31, 2004
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(Supplementary Data)
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| Third Quarter Results: |
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YAMAHA recorded consolidated sales of ¥149.0 billion and operating income of ¥18.7 billion in the third quarter of the fiscal year ending March 31, 2004. The main contributor was the electronic equipment and metal products business, centered on mobile phone sound source chips.
On a cumulative basis, over the nine-month period beginning April 2003, consolidated sales totaled ¥415.3 billion, operating income was ¥45.1 billion, and recurring profit amounted to ¥51.2 billion.
*YAMAHA started reporting results on a quarterly basis in the first quarter of the fiscal year ending March 31, 2004. Therefore, quarterly results for FY2003 and year-on-year percentage changes are not shown.
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| Outlook for the Fiscal Year Ending March 31, 2004: YAMAHA Further Raises Forecasts Announced along with Interim Results for Record Earnings |
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YAMAHA now expects full-year sales in the musical instruments business and the AV/IT business to fall short of the numbers announced along with interim results in November 2003. However, YAMAHA expects higher sales and earnings in the electronic equipment and metal products business, where demand for mobile phone sound source chips is strong. As a result, YAMAHA has raised its full-year consolidated forecasts announced along with interim results. YAMAHA now forecasts consolidated sales of ¥542.0 billion, operating income of ¥45.5 billion, recurring profit of ¥51.0 billion, and net income of ¥44.0 billion.
In brief, YAMAHA expects sales to rise for the second consecutive year and for all consolidated earnings figures to reach record highs since it first initiated the disclosure of consolidated results.
On a non-consolidated basis, YAMAHA now forecasts increases in both sales and profits, with net sales of ¥344.0 billion, operating income of ¥27.5 billion, recurring profit of ¥28.5 billion, and net income of ¥26.5 billion. As with the consolidated forecasts, these earnings represent the highest levels since YAMAHA became a listed company.
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| Expected Dividends: |
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YAMAHA plans to increase end of period dividends by ¥5 per share to ¥10 per share (for an annual dividend of ¥15).
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For further information, please contact
Yamaha Corporation
Corporate Communication Group,
Public Relations Division
Mr. Mike Tanaka
TEL. +81-3- 5488-6601
FAX. +81-3-5488-5060
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