FY2016.3 Performance Outline April 28, 2016 (billions of yen) Net Sales Japan Sales Overseas Sales Operating Income Ordinary Income Net Income (*1) Currency Exchange Rate (Settlement Rate) (=yen) ROE ROA Earnings per Share Capital Expenditure (Depreciation Expenses) R&D Expenses Results Projections (Previous Year) (announced on Feb. 4, 2016) Results Projections (Full Year) FY2016.3 FY2015.3 FY2016.3 432.2 437.0 435.5 160.4 (37.1%) 144.2 (33.0%) 145.0 (33.3%) 271.8 (62.9%) 292.8 (67.0%) 290.5 (66.7%) 30.1 (7.0%) 41.0 (9.4%) 40.7 (9.3%) 31.2 (7.2%) 41.5 (9.5%) 40.9 (9.4%) 24.9 (5.8%) 34.5 (7.9%) 32.6 (7.5%) 109/US$ 121/US$ 121/US$ 141/EUR 134/EUR 134/EUR 8.1% 10.0% 10.1% 5.1% 6.6% 6.5% 128.8 yen 178.5 yen 168.9 yen 13.8 12.3 11.2 (12.6) (12.7) (12.7) 25.4 25.1 24.8 FY2017.3 420.0 140.0 (33.3%) 280.0 (66.7%) 42.0 (10.0%) 42.0 (10.0%) 45.5 (10.8%) 110/US$ 125/EUR 14.3% 9.5% 242.7 yen 20.6 (12.6) 25.9 Cash Flows Operating Activities Investing Activities Total Inventories at End of Period 31.7 -11.7 20.0 87.8 41.0 -2.0 39.0 92.1 42.4 0.6 43.0 91.9 43.0 -21.5 21.5 87.8 6,541 13,426 19,967 6,200 14,200 20,400 6,149 14,199 20,348 6,200 14,700 20,900 (-102) (-) 7,990 8,000 Number of Employees Japan Overseas Total (*2) （Changes from the changes in the scope of consolidation） (257) Temporary Staff (-100) 7,860 (average during the period) 7,900 Sales by Business Segment Musical Instruments (*3) Audio Equipment (*3) Electronic Devices (*4) Others 281.7 112.8 13.4 24.2 (65.2%) (26.1%) (3.1%) (5.6%) 281.5 118.5 13.0 24.0 (64.4%) (27.1%) (3.0%) (5.5%) 278.9 119.4 13.1 24.2 (64.0%) (27.4%) (3.0%) (5.6%) 263.0 120.0 37.0 (62.6%) (28.6%) (8.8%) Operating Income by Business Segment Musical Instruments (*3) Audio Equipment (*3) Electronic Devices (*4) Others 25.1 6.1 -1.4 0.4 31.5 8.5 0.5 0.5 31.5 8.7 0.1 0.3 32.5 9.0 0.5 Non-Consolidated Basis Net Sales Operating Income Ordinary Income Net Income 233.7 10.5 24.5 25.3 (4.5%) (10.5%) (10.8%) 232.8 15.2 27.1 20.2 (6.5%) (11.7%) (8.7%) ＊1 Net income is presented as net income attributable to owners of parent on the consolidate financial statements. ＊2 Number of employees = Number of full-time staff at end of the period ＊3 Effective in FY2017.3, soundproof room business which was previously reported as a part of the musical instrument segment has now been reported as a part of the audio equipment segment. ＊4 Effective in FY2017.3, others segment includes electronic devices segment which was closed at the end of FY2016.3. 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.