|
|
 |
Outline of Performance for the First Three Quarters of the Fiscal Year
Ending March 31, 2007, and Revised Outlook for the Full Fiscal Year
|
|
 |
 |
|
|
| Performance for the First Three Quarters--Sales and Earnings Higher Year on Year |
|
Consolidated net sales in the first three quarters of the fiscal year that will end on March 31, 2007 increased 2.5% to ¥416.5 billion. Sales growth in the musical instruments segment along with small sales increases in the lifestyle-related products segment and recreation segment outweighed lower sales in the AV/IT segment and electronic equipment and metal products segment.
Consolidated operating income increased 4.0% to ¥26.9 billion. Growth was attributable to a big increase in musical instruments segment earnings and improving profitability in the recreation segment. Earnings were lower in the electronic equipment and metal products segment and lifestyle-related products segment. Consolidated recurring profit rose 8.3% to ¥38.5 billion because of an increase in equity in earnings of affiliates.
Although there was an increase in extraordinary losses, mainly due to the liquidation of an overseas subsidiary, net income for the first three quarters was up 9.0% to ¥29.9 billion.
In the third quarter, which is the three-month period that ended on December 31, 2006, consolidated net sales increased 1.8% year on year to ¥152.0 billion and operating income was up 13.6% to ¥13.0 billion. |
|
|
|
|
|
|
| Sales and Operating income by Segment |
|
| (Figures in parentheses are changes from the same period of the previous fiscal year unless otherwise indicated.) |
|
Musical Instruments — Sales of ¥246.1 billion (+3.8%) and Operating Income of ¥20.3 billion (+29.7%)
Sales of portable keyboards and other electronic musical instruments outside Japan were strong, but sales of Electone™ products declined. Segment sales also benefited from higher sales of pianos, wind instruments and professional audio equipment. Operating income rose mainly due to growth in sales and an increase in foreign exchange gains.
AV/IT Products — Sales of ¥57.6 Billion (–5.3%) and Operating Income of ¥2.6 Billion (-0.7%)
Home theater products recorded brisk sales, mostly in Europe and North America, but total segment sales declined because of a downturn in sales of commercial karaoke equipment. Operating income was basically unchanged from one year earlier.
Electronic Equipment and Metal Products —Sales of ¥41.9 Billion (–1.6%) and Operating Income of ¥3.5 billion (–49.0%)
In the electronic metal products sector, sales increased in tandem with price hikes to reflect the higher cost of raw materials. In the electronic equipment sector, sales were lower because of weaker demand for LSI sound chips used in mobile phones. The net result was a small decline in total segment sales. Operating income was down sharply, due to lower sales and profit margins in semiconductor operations.
Lifestyle-Related Products —Sales of ¥35.4 Billion (+0.8%) and Operating Income of ¥1.0 Billion (–45.2%)
Continuing strength in sales of system kitchens was mainly responsible for the small increase in segment sales. The drop in operating income was attributable to a downturn in gross profit along with growth in selling, general and administrative (SG&A) expenses.
Recreation —Sales of ¥13.2 Billion (+0.5%) and Operating Loss Declined from ¥1.6 Billion to ¥1.1 Billion
Segment sales increased because of growth in the number of customers visiting the segment’s one-day outing facilities. The operating loss was smaller because of lower SG&A expenses, mainly the result of a decline in depreciation expenses.
Others —Sales of ¥22.3 Billion (+25.9%) and Operating Income of ¥630 Million (+36.1%)
The substantial growth in sales and earnings was the result of steady performance by golf products and a healthy advance by automotive interior components, and magnesium and plastic component molding.
|
|
|
|
|
|
|
| Outlook for the Fiscal Year— Revision of the Forecast Released on October 31 |
|
Yamaha has revised its forecast for the fiscal year ending March 31, 2007, which was released on October 31, 2006. The new forecast incorporates the current outlook for lower sales in Yamaha’s core musical instruments segment and AV/IT segment, and higher earnings in the musical instrument segment. The original forecast, on a consolidated basis, was for net sales of ¥546.0 billion, operating income of ¥25.0 billion, recurring profit of ¥38.0 billion, and net income of ¥29.0 billion. In the revised forecast, net sales are ¥542.5 billion, operating income is ¥26.0 billion, recurring profit is ¥41.0 billion, and net income is ¥30.5 billion.
On a non-consolidated basis, in its forecast released on October 31, Yamaha expected net sales of ¥320.0 billion, operating income of ¥10.0 billion, recurring profit of ¥16.0 billion, and net income of ¥11.0 billion. Based on the outlook for lower sales and earnings in core businesses, the new forecast calls for net sales of ¥320.0 billion, operating income of ¥11.0 billion, recurring profit of ¥18.5 billion, and net income of ¥12.5 billion.
Note: Figures have been rounded to the nearest million or billion.
|
|
|
 |
|
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 Relations Division,
Public & Investor Relations Group
TEL. +81-3-5488-6601
FAX. +81-3-5488-5060
|
|
|
|
|
|
|
Outline of Performance for the First Three Quarters of the Fiscal Year Ending March 31, 2007, and Revised Outlook for the Full Fiscal Year