FY2014.3 Performance Outline April 30, 2014 (billions of yen) Net Sales Japan Sales Overseas Sales Operating Income Ordinary Income Net Income Currency Exchange Rate (Settlement Rate) (=yen) ROE ROA Earnings per Share Capital Expenditure (Depreciation) R&D Expenditure Results Projections (Previous Year) (announced on Feb. 5, 2014) Results Projections Projections (Full Year) (Interim Period) Apr. 1, 2014-Sept. 30, 2014 FY2014.3 FY2013.3 FY2014.3 FY2015.3 FY2015.3 366.9 408.0 410.3 430.0 206.5 165.8 (45.2%) 166.5 (40.8%) 167.9 (40.9%) 167.3 (38.9%) 80.6 (39.0%) 201.2 (54.8%) 241.5 (59.2%) 242.4 (59.1%) 262.7 (61.1%) 125.9 (61.0%) 9.2 (2.5%) 22.0 (5.4%) 26.0 (6.3%) 29.0 (6.7%) 15.5 (7.5%) 8.6 (2.3%) 20.5 (5.0%) 26.1 (6.4%) 28.0 (6.5%) 15.0 (7.3%) 4.1 (1.1%) 18.0 (4.4%) 22.9 (5.6%) 21.0 (4.9%) 11.0 (5.3%) 82/US$ 99/US$ 100/US$ 100/US$ 100/US$ 103/EUR 128/EUR 129/EUR 135/EUR 135/EUR 1.9% 7.5% 9.2% 7.5% 8.0% (*1) 1.1% 4.4% 5.5% 4.7% 4.9% (*2) 21.3 yen 93.0 yen 118.3 yen 108.5 yen 56.8 yen 13.8 11.3 10.8 13.8 8.5 (11.6) (12.7) (12.8) (12.8) (6.0) 22.1 22.9 22.6 25.6 13.1 Cash Flows Operating Activities Investing Activities Total Inventories at End of Period 7.8 -12.6 -4.9 82.0 28.8 -14.4 14.4 81.0 33.2 -23.0 10.3 82.7 33.5 -12.8 20.7 84.4 2.0 -7.6 -5.6 95.0 7,143 12,545 19,688 6,900 13,200 20,100 6,830 13,021 19,851 6,700 13,600 20,300 6,800 13,700 20,500 Number of Employees Japan Overseas Total (*3) （Changes from the changes in the scope of consolidation） Temporary Staff (average during the period) (173) (50) (46) (300) (300) 8,198 7,700 7,863 7,500 7,700 Sales by Business Segment Musical Instruments (*4) Audio Equipment (*4) Electronic Devices Others 235.5 92.6 15.0 23.8 (64.2%) (25.2%) (4.1%) (6.5%) 258.5 105.5 20.0 24.0 (63.4%) (25.8%) (4.9%) (5.9%) 262.3 105.5 18.8 23.7 (63.9%) (25.7%) (4.6%) (5.8%) 273.0 112.0 19.0 26.0 (63.5%) (26.1%) (4.4%) (6.0%) 134.0 51.0 9.0 12.5 (64.9%) (24.7%) (4.4%) (6.0%) Operating Income by Business Segment Musical Instruments (*4) Audio Equipment (*4) Electronic Devices Others 6.4 4.6 -2.0 0.3 16.5 5.0 0.5 0 19.7 5.9 0.8 -0.4 22.0 6.0 0.5 0.5 13.0 2.5 0 0 Non-Consolidated Basis Net Sales Operating Income Ordinary Income Net Income 231.4 -4.2 6.2 5.8 (2.7%) (2.5%) 223.7 8.1 15.5 17.7 (3.6%) (6.9%) (7.9%) ＊1, 2 The ROE and ROA for the interim period are calculated on an annually adjusted basis. ＊3 Number of employees = Number of full-time staff at end of the period ＊4 Effective in the first quarter of FY2014.3, AV/IT segment was renamed audio equipment segment, and the PA equipment business, which was previously reported as part of the musical instruments segment has now been reported as part of the audio equipment business. The above figures of FY2013.3 reflect the new segments accordingly. 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.