FY2013.3 Performance Outline April 30, 2013 (billions of yen) Results Projections (Previous Year) (announced on Feb. 6, 2013) Results Projections Projections (Full Year) (Interim Period) Apr. 1, 2013-Sept. 30, 2013 FY2013.3 FY2012.3 FY2013.3 FY2014.3 FY2014.3 Net Sales 356.6 365.0 366.9 390.0 189.5 Japan Sales 167.1 (46.9%) 167.1 (45.8%) 165.8 (45.2%) 168.4 (43.2%) 82.4 (43.5%) Overseas Sales 189.5 (53.1%) 197.9 (54.2%) 201.2 (54.8%) 221.6 (56.8%) 107.1 (56.5%) Operating Income 8.1 (2.3%) 7.0 (1.9%) 9.2 (2.5%) 18.0 (4.6%) 9.5 (5.0%) Ordinary Income 7.3 (2.0%) 6.0 (1.6%) 8.6 (2.3%) 16.5 (4.2%) 8.5 (4.5%) Net Income -29.4 0 4.1 (1.1%) 13.5 (3.5%) 7.0 (3.7%) 81/US$ 82/US$ 85/US$ 85/US$ Currency Exchange Rate 79/US$ (Settlement Rate) (=yen) 112/EUR 103/EUR 103/EUR 115/EUR 115/EUR ROE -13.2% 0% 1.9% 5.8% 6.1% (*1) ROA -7.8% 0% 1.1% 3.4% 3.5% (*2) Earnings per Share -151.7 yen 0 yen 21.3 yen 69.7 yen 36.2 yen Capital Expenditure 11.3 14.0 13.8 15.4 8.7 (Depreciation) (12.0) (11.5) (11.6) (13.5) (6.1) R&D Expenditure 22.8 22.7 22.1 23.2 11.6 Cash Flows Operating Activities Investing Activities Total Inventories at End of Period 10.9 -9.0 1.9 77.1 9.2 -10.8 -1.6 77.1 7.8 -12.6 -4.9 82.0 27.8 -15.4 12.4 76.0 4.4 -7.4 -3.0 84.5 7,443 12,251 19,694 7,200 12,800 20,000 7,143 12,545 19,688 7,000 13,100 20,100 7,100 13,200 20,300 Number of Employees Japan Overseas Total (*3) （Changes from the changes in the scope of consolidation） Temporary Staff (average during the period) (0) (170) (173) (55) (50) 8,497 7,800 8,198 7,900 8,900 Sales by Business Segment Musical Instruments (*4) AV/IT (*4) Audio Equipment (*4) Electronic Devices Others 265.1 53.2 16.2 22.1 (74.3%) (14.9%) (4.6%) (6.2%) 270.5 55.0 15.5 24.0 (74.1%) (15.1%) (4.2%) (6.6%) 272.7 55.4 15.0 23.8 (74.3%) (15.1%) (4.1%) (6.5%) 246.5 99.5 19.0 25.0 (63.2%) (25.5%) (4.9%) (6.4%) 122.5 46.0 8.5 12.5 (64.6%) (24.3%) (4.5%) (6.6%) Operating Income by Business Segment Musical Instruments (*4) AV/IT (*4) Audio Equipment (*4) Electronic Devices Others 7.7 2.9 -2.9 0.4 6.5 2.5 -2.5 0.5 8.1 2.9 -2.0 0.3 12.0 5.5 0 0.5 6.5 3.0 0 0 Non-Consolidated Basis Net Sales Operating Income Ordinary Income Net Income 239.3 -4.3 0.6 -30.4 (0.3%) - 231.4 -4.2 6.2 5.8 (2.7%) (2.5%) ＊1, 2 The ROE and ROA 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. 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.