Third Quarter of FY2015.3 Performance Outline

Third Quarter of FY2015.3 Performance Outline
February 4, 2015
(billions of yen)
Three Months Results Three Months Results
Ended Dec. 31, 2013 Ended Dec. 31, 2014
Nine Months Results
Ended Dec. 31, 2013
Nine Months Results
Ended Dec. 31, 2014
Results
Projections
(Previous Year)
(Full Year)
Previous Projections
(Full Year)
(announced on Oct. 31, 2014)
Net Sales
FY2014.3
FY2015.3
FY2014.3
FY2015.3
FY2014.3
FY2015.3
FY2015.3
111.0
116.9
308.7
323.2
410.3
430.0
430.0
Japan Sales
41.0
(36.9%)
39.3
(33.6%)
123.2
(39.9%)
117.8
(36.5%)
167.9
(40.9%)
159.6
(37.1%)
164.8
(38.3%)
Overseas Sales
70.0
(63.1%)
77.6
(66.4%)
185.4
(60.1%)
205.4
(63.5%)
242.4
(59.1%)
270.4
(62.9%)
265.2
(61.7%)
Operating Income
9.1
(8.2%)
10.6
(9.1%)
22.8
(7.4%)
25.7
(8.0%)
26.0
(6.3%)
30.0
(7.0%)
29.0
(6.7%)
Ordinary Income
8.9
(8.0%)
10.9
(9.3%)
22.3
(7.2%)
26.0
(8.0%)
26.1
(6.4%)
30.0
(7.0%)
28.0
(6.5%)
Net Income
6.5
(5.9%)
9.9
(8.5%)
19.0
(6.2%)
20.7
(6.4%)
22.9
(5.6%)
21.0
(4.9%)
19.0
(4.4%)
Currency Exchange
Rate (Settlement Rate)
99/US$
112/US$
98/US$
105/US$
100/US$
108/US$
(*4)
104/US$
131/EUR
138/EUR
127/EUR
140/EUR
129/EUR
140/EUR
138/EUR
ROE
(*1)
10.2%
12.7%
10.3%
9.2%
9.2%
7.1%
6.6%
ROA
(*2)
6.0%
7.9%
6.1%
5.8%
5.5%
4.5%
4.2%
33.8 yen
51.2 yen
98.3 yen
106.9 yen
118.3 yen
108.5 yen
98.1 yen
2.2
3.0
7.1
9.8
10.8
13.6
13.6
(3.3)
(3.3)
(9.3)
(9.2)
(12.8)
(12.7)
(12.6)
5.7
6.4
16.5
18.5
22.6
25.5
25.3
Operating Activities
9.4
6.6
13.7
13.1
33.2
31.5
33.5
Investing Activities
-1.6
-2.1
-4.1
-9.2
-23.0
-12.5
-12.6
7.8
‐
4.5
‐
9.6
3.9
10.3
19.0
20.9
88.8
94.9
82.7
87.9
82.1
Japan
‐
‐
6,923
6,617
6,830
6,600
6,600
Overseas
‐
‐
12,936
13,417
13,021
13,500
13,500
Total
(*3)
‐
‐
19,859
20,034
19,851
20,100
20,100
（Changes from the changes in
the scope of consolidation）
-
-
(49)
-
-
8,395
(=yen)
Earnings per Share
Capital Expenditure
(Depreciation)
R&D Expenditure
Cash Flows
Total
Inventories at end of period
Number of Employees
Temporary Staff
(average during the period)
(261)
(46)
(270)
7,863
7,565
(270)
7,700
7,700
Sales by Business
Segment
Musical Instruments
69.7
(62.8%)
76.3
(65.3%)
196.7
(63.7%)
212.4
(65.7%)
262.3
(63.9%)
281.0
(65.4%)
277.5
(64.5%)
Audio Equipment
30.6
(27.6%)
31.8
(27.2%)
79.4
(25.7%)
82.5
(25.5%)
105.5
(25.7%)
111.5
(25.9%)
112.0
(26.1%)
Electronic Devices
4.7
(4.2%)
3.0
(2.6%)
14.8
(4.8%)
10.6
(3.3%)
18.8
(4.6%)
13.5
(3.1%)
Others
5.9
(5.4%)
5.7
(4.9%)
17.8
(5.8%)
17.8
(5.5%)
23.7
(5.8%)
24.0
(5.6%)
14.5
26.0
(3.4%)
(6.0%)
Operating Income by
Business Segment
Musical Instruments
6.3
Audio Equipment
Electronic Devices
Others
7.8
15.9
22.0
19.7
26.5
24.0
2.7
2.7
5.3
4.7
5.9
5.5
6.0
0.1
-0.3
1.3
-1.2
0.8
-2.0
0
0.4
0.3
0.3
-0.4
0
-1.5
0.5
54.3
55.0
173.9
180.8
223.7
Non-Consolidated Basis
Net Sales
Operating Income
2.6
(4.7%)
2.3
(4.2%)
9.5
(5.5%)
9.9
(5.5%)
8.1
(3.6%)
Ordinary Income
3.1
(5.7%)
3.4
(6.2%)
15.8
(9.1%)
17.9
(9.9%)
15.5
(6.9%)
Net Income
2.8
(5.2%)
4.0
(7.3%)
16.9
(9.7%)
17.8
(9.9%)
17.7
(7.9%)
＊1, 2 The ROE and ROA for the 3Q are calculated on an annually adjusted basis.
＊3　Number of Employees = Number of full-time staff at end of the period
＊4　4Q Currency exchange rates US$=115JPY　EUR=140JPY
Consolidated financial forecasts were prepared based on information available at the time of the announcement and do not represent promises by the Company or
its management that these performance figures will be attained.
Actual consolidated results may differ from forecasts owing to a wide range of factors.