FY2010.3 Performance Outline YAMAHA CORPORATION April 28, 2010 (billions of yen) Results Projections (Previous Year) (March 19, 2010) Results Projections Projections (Interim Period) (Full Year) Apr. 1, 2010-Sept. 30, 2010 FY2009.3 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 459.3 234.9 224.4 13.8 12.0 -20.6 102/US$ 153/EUR -7.0% -4.3% -103.7yen 22.6 (17.9) 23.2 FY2010.3 (51.1%) (48.9%) (3.0%) (2.6%) - 413.0 216.0 197.0 6.0 4.0 -5.0 93/US$ 129/EUR -0.6% -0.4% -25.4 yen 15.9 (14.2) 21.0 FY2010.3 (52.3%) (47.7%) (1.5%) (1.0%) - 414.8 218.4 196.4 6.8 4.9 -4.9 93/US$ 130/EUR -2.0% -1.2% -25.0yen 14.5 (14.1) 21.7 FY2011.3 (52.7%) (47.3%) (1.6%) (1.2%) - 385.0 181.3 203.7 10.0 7.5 5.5 90/US$ 127/EUR 2.2% 1.4% 27.9yen 13.9 (14.2) 21.7 (47.1%) (52.9%) (2.6%) (1.9%) (1.4%) FY2011.3 188.0 89.8 98.2 5.5 4.5 3.5 90/US$ 127/EUR 2.8% 1.8% 17.7yen 7.3 (6.7) 11.2 (47.8%) (52.2%) (2.9%) (2.4%) (1.9%) (*1) (*2) Free Cash Flows Operating Activities Investing Activities Total Inventories at End of Period -2.2 -26.0 -28.2 80.7 34.5 -16.4 18.1 68.9 39.9 -12.7 27.2 69.5 21.1 -13.5 7.6 65.4 -3.0 -6.5 -9.5 74.9 10,765 16,038 26,803 10,850 15,950 26,800 9,628 16,030 25,658 9,600 16,500 26,100 9,700 17,100 26,800 (-1,106) (0) (0) Number of Employees Japan Overseas Total (*3) (Changes from the changes in the scope of consolidation) (148) (75) Sales by Business Segment Musical Instruments AV/IT Electronic Devices Lifestyle-Related Products (*4) Others Operating Income by Business Segment Musical Instruments AV/IT Electronic Devices Lifestyle-Related Products (*4) Others 306.6 56.7 22.0 43.1 30.8 (66.8%) (12.3%) (4.8%) (9.4%) (6.7%) 19.2 -0.4 -2.5 -0.3 -2.1 275.0 53.5 20.0 37.0 27.5 5.5 1.0 -0.5 0 0 (66.6%) (12.9%) (4.8%) (9.0%) (6.7%) 276.3 54.4 19.7 36.9 27.5 (66.6%) (13.1%) (4.8%) (8.9%) (6.6%) 5.1 1.4 -0.6 0.4 0.5 281.0 57.0 23.0 24.0 (73.0%) (14.8%) (6.0%) (6.2%) 6.5 2.5 0.5 0.5 140.0 25.5 10.5 12.0 (74.5%) (13.5%) (5.6%) (6.4%) 4.0 1.0 0 0.5 Non-Consolidated Basis Net Sales Operating Income Ordinary Income Net Income 274.6 1.2 4.4 -18.9 (0.5%) (1.6%) - 227.9 -9.8 -8.4 -16.4 - ＊1, 2 The ROE and ROA projections for the interim period of FY2011.3 are calculated on an annually adjusted basis. ＊3 Number of Employees = Number of full-time staff at end of the period + Average number of temporary staff during the period ＊4 Following the handover of Lifestyle-Related Products business, this segment has been excluded from the consolidation from FY2011.3. The forward-looking statements in this document contain inherent risks and uncertainties insofar as they are based on future projections and plans that may differ materially from the actual results achieved.