|
|
 |
Summary of Fiscal 2006 First Quarter (Q1) Results for Fiscal 2006 |
|
|
 |
 |
|
|
Fiscal 2006 Q1 Results Summary
Sales and operating profits declined, but the net loss in Q1 of the previous year turned to net income
|
|
Consolidated net sales in fiscal 2006 Q1 were almost in accord with our initial outlook and declined 6.6% from the same quarter of the previous fiscal year, to ¥124.1 billion. The AV/IT and electronic equipment and metal products segments showed declines in sales.
Consolidated operating income was approximately
13% higher than our initial outlook but decreased
54.2%, to ¥6.9 billion and consolidated recurring
profit was down 32.8%, to ¥11.6 billion. This
was primarily because the electronic equipment
and metal products segment reported a substantial
decline in the value of sales of LSI sound chips
for mobile phones due to unit price declines.
The AV/IT and musical instrument segments also
showed declines in income.
Net income in Q1 amounted to ¥9.8 billion, compared with a net loss of ¥12.6 billion in Q1 of the previous fiscal year. This was due to the absence in fiscal 2006 Q1 of asset impairment losses that were written off in Q1 of the previous fiscal year.
The outlook for the full fiscal year ending March 31, 2006, has not been revised.
|
|
|
|
|
|
|
| Sales and Operating Income by Business Segment: |
|
(Figures in parentheses are percentage changes from the same quarter of the previous fiscal year, unless indicated otherwise.)
Musical Instruments — Sales of ¥73.3 billion (–0.3% year to year), operating income of ¥4.4 billion (–33.7% year to year)
Sales of pianos and Clavinova™ increased and overseas sales of professional audio equipment were strong. However, sales of the Electone STAGEA™ paused and posted a decline. As a result segment sales were virtually the same as for Q1 of the previous fiscal year. Operating income declined because of the effects of reduced production levels and higher logistics costs.
AV/IT — Sales of ¥16.2 billion — (–8.1% year to year), operating income of ¥50 million (–97.1% year to year)
Sales of AV equipment, principally home theater equipment, declined and routers for small enterprises encountered more intense competition, resulting in an overall decline in segment sales and operating income.
Electronic Equipment and Metal Products — Sales of ¥13.8 billion (–34.7% year to year), operating income of ¥2.6 billion (–66.6% year to year)
Sales of the core product of this segment, LSI sound chips for mobile phones, fell sharply, leading to an overall decline in sales and operating income.
Lifestyle-related Products — Sales of ¥11.2 billion (+7.2% year to year), operating income of ¥280 million (compared with an operating loss of ¥100 million in Q1 of the previous fiscal year)
Sales of system kitchens were strong and posted an increase over the same quarter of the previous fiscal year. As a result, this segment moved from an operating loss in fiscal 2005 Q1 to an operating income in fiscal 2006 Q1.
Recreation — Sales of ¥4.0 billion (–5.7% year to year), operating loss of ¥500 million (compared with an operating loss of ¥790 million in Q1 of the previous fiscal year)
Customer volume continued to decline, and sales fell below the same quarter of the previous fiscal year. However, the operating loss was reduced by measures to use expenditures more efficiently and a change in the method of depreciation.
Other Businesses — Sales of ¥5.5 billion (–5.0% year to year), operating income of ¥100 million (compared with an operating loss of ¥190 million in Q1 of the previous fiscal year.
Sales of the automobile interior wood components, factory automation equipment, and metallic molds businesses declined, but operating profit recovered substantially as a consequence of improvement in FA and yields in molded magnesium components.
|
|
| Note: Sales and profit
figures are generally rounded to the nearest ¥100
million. Figures in parentheses indicate year
on year percentage comparisons, except as indicated. |
|
|
 |
|
You will need to have the Adobe Reader to view the contents of this file.
Click the right button to download and install a free copy of the Adobe Reader.
|
|
 |
|
|
|
For further information, please contact
YAMAHA CORPORATION
Public & Investor Relations Group,
Public Relations Division
Mr. Mike Tanaka
TEL. +81-3- 5488-6601
FAX. +81-3-5488-5060
|
|
|
|
|
|
|
Overview of Consolidated Performance in the First Quarter of the Fiscal Year Ending March 31, 2006