FY2004 Performance Outline (2)

FY2004 Performance Outline (2)
YAMAHA CORPORATION
1Q Results
1H Forecast
1H Forecast
(billions of yen)
Forecast (Full Year) Forecast (Full Year）
Announced on Aug. 8 Announced on May 9 Announced on Aug. 8 Announced on May 9
FY2004
FY2004
FY2004
FY2004
Net Sales
126.1
264.0
269.0
541.0
JAPAN Sales
81.5 (64.6%)
157.3 (59.6%)
158.5 (58.9%)
308.9
Overseas Sales
44.6 (35.4%)
106.7 (40.4%)
110.5 (41.1%)
232.1
Operating Income
11.8 (9.4%)
20.5 (7.8%)
18.5 (6.9%)
34.0
Recurring Profit
13.4 (10.6%)
21.5 (8.1%)
19.5 (7.2%)
37.0
Net Income
12.6 (10.0%)
19.0 (7.2%)
17.0 (6.3%)
31.0
Currency Exchange
119/US$
120/US$
120/US$
120/US$
Rate (=yen)
124/EUR
125/EUR
125/EUR
125/EUR
ROE(%)
5.7%
8.4%
7.6%
13.5%
ROA(%)
2.5%
3.6%
3.2%
6.0%
Earnings per share
61.4yens
92.2yens
82.5yens
150.4yens
Capital Expenditure
4.2
13.0
13.0
24.0
Depreciation
4.4
9.4
9.4
19.5
R&D Expenditure
5.5
11.3
11.3
22.5
Loans & Equivalents（*1）
50.0
47.9
47.0
33.1
Free Cash Flow
Operating Activities
3.4
12.0
12.9
51.2
Investing Activities
-5.4
-12.8
-12.8
-26.0
Total
-2.0
-0.8
0.1
25.2
Inventories at year-end
88.5
88.8
85.9
73.1
No. of Employees
JAPAN
12,230
12,235
12,269
12,037
Overseas
12,484
12,611
13,507
12,179
Total（*2）
24,714
24,846
25,776
24,216
(No of newly consolidated)
(719)
(723)
(647)
(720)
Sales by Business segment
149.0 (56.4%)
149.0 (55.4%)
302.0
Musical Instruments
72.6 (57.6%)
AV/IT
14.2 (11.3%)
35.5 (13.4%)
39.5 (14.7%)
86.0
Life Related
11.3 (9.0%)
23.0 (8.7%)
24.0 (8.9%)
45.5
Electronic Equipment
16.9 (13.4%)
33.0 (12.5%)
33.0 (12.3%)
61.5
Recreation
4.8 (3.8%)
10.5 (4.0%)
10.5 (3.9%)
21.5
Others
6.3 (5.0%)
13.0 (4.9%)
13.0 (4.8%)
24.5
Operating Income by Business segment
Musical Instruments
5.5
7.0
7.0
12.0
AV/IT
0.2
1.5
1.5
3.7
Life Related
0.4
0.8
0.8
0.8
Electronic Equipment
6.1
11.5
9.5
17.7
Recreation
-0.4
-0.4
-0.4
-0.5
Others
0.0
0.1
0.1
0.3
Non Consolidated Basis
Net Sales
86.9
174.0
174.0
334.0
15.0 (8.6%)
11.0 (6.3%)
16.5
Operating Income
10.1 (11.6%)
Recurring Profit
10.7 (12.3%)
15.0 (8.6%)
11.0 (6.3%)
16.0
Net Income
10.8 (12.4%)
14.0 (8.0%)
10.0 (5.7%)
14.0
*1 Loans & Equivalents＝Loans(Short term , Long term) + Convertible Bonds - Cash & Bank Deposit
*2 No. of Employees ＝No. of Full-time Staff at year-end + Average No. of Temp. Staff
(57.1%)
(42.9%)
(6.3%)
(6.8%)
(5.7%)
FY2004
547.0
311.6 (57.0%)
235.4 (43.0%)
32.0 (5.9%)
35.0 (6.4%)
29.0 (5.3%)
120/US$
125/EUR
12.7%
5.7%
140.7yens
24.0
19.5
22.5
35.1
49.2
-26.0
23.2
73.1
12,019
12,370
24,389
(645)
(55.8%)
(15.9%)
(8.4%)
(11.4%)
(4.0%)
(4.5%)
302.0 (55.2%)
90.0 (16.5%)
47.5 (8.7%)
61.5 (11.2%)
21.5 (3.9%)
24.5 (4.5%)
12.0
3.7
0.8
15.7
-0.5
0.3
(4.9%)
(4.8%)
(4.2%)
338.0
14.5
14.0
12.0
(4.3%)
(4.1%)
(3.6%)