FY2001Performance Outline (billions of yen) Initial Projection (Nov.17,2000) FY2001 Results Results Forecast FY2001 FY2000 FY2002 Net Sales 520.0 519.1 527.8 550.0 308.5 (59.4%) 307.9 (58.3%) 312.0 (56.7%) JAPAN Sales 315.0 (60.6%) Overseas Sales 205.0 (39.4%) 210.6 (40.6%) 219.9 (41.7%) 238.0 (43.3%) Operating Income 22.0 (4.2%) 23.0 (4.4%) 8.0 (1.5%) 23.5 (4.3%) Recurring Profit 19.0 (3.7%) 19.2 (3.7%) 8.5 (1.6%) 21.0 (3.8%) Net Income 12.5 (2.4%) 13.3 (2.6%) -40.7 (-7.7%) 15.0 (2.7%) Currency Exchange 107/US$ 108/US$ 114/US$ 115/US$ Rate (=yen) 97/EUR 98/EUR 119/EUR 105/EUR ROE(%) 6.8% 6.4% -18.7% 7.4% ROA(%) 2.5% 2.5% -7.6% 3.0% Earnings per share 60.5yens 64.5yens -197.5yens 72.6yens Capital Expenditure 16.5 14.8 18.5 18.0 Depreciation 18.1 17.3 28.6 18.0 R&D Expenditure 21.0 20.5 22.6 21.5 60.0 70.4 54.4 50.0 Loans & Equivalents（*1） Free Cash Flow Operating Activities 6.4 -9.1 10.9 39.0 Investing Activities -10.2 -5.4 12.5 -17.8 Total -3.8 -14.5 23.4 21.2 No. of Employees JAPAN 12,296 12,325 12,565 11,900 Overseas 11,204 9,952 9,034 10,900 23,500 22,277 21,599 22,800 Total（*2） Sales by Business segment 284.9 (54.9%) 387.0 (73.3%) 306.5 (55.7%) Musical Instruments 280.0 (53.8%) AV/IT 103.0 (19.8%) 100.2 (19.3%) 106.0 (19.3%) Life Related 48.0 (9.2%) 46.9 (9.0%) 46.9 (8.9%) 47.5 (8.6%) Electronic Equipment 45.0 (8.7%) 43.2 (8.3%) 55.9 (10.6%) 45.0 (8.2%) Recreation 21.0 (4.0%) 21.8 (4.2%) 23.5 (4.5%) 23.0 (4.2%) Others 23.0 (4.4%) 22.1 (4.3%) 14.6 (2.8%) 22.0 (4.0%) Operating Income by Business segment Musical Instruments 13.1 12.3 27.1 13.8 AV/IT 1.6 3.9 4.0 Life Related 1.0 0.9 -1.0 1.3 Electronic Equipment 6.2 6.7 -18.1 4.7 Recreation -1.0 -1.3 -0.8 -0.8 Others 1.1 0.5 0.2 0.5 Elimination 0.6 Non Consolidated Basis Net Sales 340.0 346.1 369.1 342.0 11.1 (4.7%) -5.6 (-1.5%) 8.5 (2.5%) Operating Income 8.5 (2.5%) Recurring Profit 10.5 (3.1%) 13.3 (5.8%) -7.3 (-2.0%) 10.0 (2.9%) Net Income 7.5 (2.2%) 9.6 (4.2%) -36.7 (-9.9%) 7.5 (2.2%) *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 Forecast (Interim period) First Half 270.0 163.5 (60.6%) 106.5 (39.4%) 11.5 (4.3%) 10.0 (3.7%) 8.5 (3.1%) 115/US$ 105/EUR 4.2% 1.6% 46.0yens 10.0 9.0 10.5 56.5 24.0 -10.3 13.7 12,100 10,800 22,900 150.0 (55.6%) 52.5 (19.4%) 24.5 (9.1%) 21.0 (7.8%) 11.0 (4.1%) 11.0 (4.1%) 7.9 1.3 0.9 1.9 -0.8 0.3 177.0 5.5 6.5 6.0 (3.1%) (3.7%) (3.4%)