Performance Outline (PDF 15 KB)

FY2004 Interim Period Performance Outline
YAMAHA CORPORATION
(billions of yen)
Initial Projection
(Aug.08,2003)
1Ｈ/2004
Results
1Ｈ/2004
Results
Initial Projection
(Previous Year） (Aug.08,2003)
1Ｈ/2003
FY2004
Forecast
FY2004
Results
(Previous Year）
FY2003
Net Sales
264.0
266.2
253.7
541.0
544.0
524.7
JAPAN Sales
157.3 (59.6%)
161.7 (60.8%)
152.2 (60.0%)
308.9 (57.1%)
318.1 (58.5%)
312.1 (59.5%)
Overseas Sales
106.7 (40.4%)
104.5 (39.2%)
101.5 (40.0%)
232.1 (42.9%)
225.9 (41.5%)
212.6 (40.5%)
Operating Income
20.5
(7.8%)
26.4
(9.9%)
13.1
(5.2%)
34.0
(6.3%)
42.0
(7.7%)
32.0
(6.1%)
Recurring Profit
21.5
(8.1%)
29.7 (11.2%)
14.2
(5.6%)
37.0
(6.8%)
47.5
(8.7%)
33.8
(6.4%)
Net Income
19.0
(7.2%)
26.2
10.0
(4.0%)
31.0
(5.7%)
41.5
(7.6%)
17.9
(3.4%)
（*3）
(9.9%)
Currency Exchange
120/US$
119/US$
122/US$
120/US$
115/US$
Rate (=yen)
125/EUR
127/EUR
115/EUR
125/EUR
126/EUR
116/EUR
8.4%
11.5%
4.9%
13.5%
17.6%
8.6%
ROE(%)
ROA(%)
Earnings per share
Capital Expenditure
122/US$
3.6%
5.0%
1.9%
6.0%
8.2%
3.5%
92.2yens
127.4yens
48.9yens
150.4yens
200.9yens
86.7yens
13.0
9.5
8.5
24.0
21.8
16.9
17.6
9.4
8.8
9.1
19.5
19.0
R&D Expenditure
11.3
11.1
11.4
22.5
22.8
22.4
Loans & Equivalents（
（*1）
47.9
46.7
69.5
33.1
22.6
46.0
12.0
10.6
-0.3
51.2
56.1
33.0
Investing Activities
-12.8
-8.8
-11.4
-26.0
-22.8
-21.6
Total
-0.8
1.8
-11.7
25.2
33.3
11.4
88.8
86.5
90.7
73.1
70.8
80.1
JAPAN
12,235
12,066
12,089
12,037
11,928
11,887
Overseas
12,611
12,694
12,176
12,179
12,219
11,676
Total (*2)
24,846
24,760
24,265
24,216
24,147
23,563
Depreciation
Free Cash Flow
Operating Activities
Inventories at year-end
No. of Employees
（Newly consolidated）
(723)
(707)
(720)
(710)
Sales by Business segment
149.0 (56.4%)
149.1 (56.0%)
146.2 (57.6%)
302.0 (55.8%)
297.5 (54.7%)
292.6 (55.8%)
AV/IT
35.5 (13.4%)
34.0 (12.8%)
38.5 (15.2%)
86.0 (15.9%)
83.0 (15.3%)
83.7 (16.0%)
Life Related
23.0
23.2
(8.7%)
23.6
(9.3%)
45.5
45.5
46.0
Electronic Equipment
33.0 (12.5%)
36.4 (13.7%)
24.9
(9.8%)
61.5 (11.4%)
70.5 (13.0%)
60.6 (11.5%)
Recreation
10.5
13.0
10.3
13.3
10.3
10.3
(4.1%)
21.5
24.5
21.0
26.5
20.9
20.9
Musical Instruments
Others
Operating Income by Business
segment
(8.7%)
(4.0%)
(4.9%)
(3.9%)
(5.0%)
(4.1%)
(8.4%)
(4.0%)
(4.5%)
(8.4%)
(3.9%)
(4.9%)
Musical Instruments
7.0
9.7
6.0
12.0
12.0
9.8
AV/IT
1.5
1.4
1.0
3.7
4.0
3.2
Life Related
0.8
1.1
0.5
0.8
1.0
0.5
Electronic Equipment
11.5
14.2
5.9
17.7
25.0
19.3
Recreation
-0.4
-0.5
-0.8
-0.5
-0.5
-1.1
0.1
0.5
0.5
0.3
0.5
0.4
179.9
172.0
Others
(8.8%)
(4.0%)
(4.0%)
Non Consolidated Basis
Net Sales
174.0
334.0
341.0
334.0
Operating Income
15.0
(8.6%)
18.7 (10.4%)
10.5
(6.2%)
16.5
(4.9%)
23.5
(6.9%)
21.8
(6.5%)
Recurring Profit
15.0
(8.6%)
19.7 (11.0%)
10.9
(6.4%)
16.0
(4.8%)
24.5
(7.2%)
22.1
(6.6%)
23.5
(6.9%)
7.7
(2.3%)
14.0 (8.0%)
19.2 (10.7%)
7.6 (4.5%)
14.0 (4.2%)
*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
*3 2H Currency Exchange Rates US$=110JPY　EUR=125JPY
Net Income