Fact Book

2002
ヤマハ株式会社
Fact Book
Year Ended March 31, 2002
PROFILE
プロフィール
感動と豊かな文化を世界の人々とともに創りつづけます。
Yamaha will continue to create KANDO and enrich culture
with technology and passion born of sound and music, together
with people all over the world.
お客様への約束
KANDO (is a Japanese word that) signifies an inspired state of mind.
お客様の心からの満足のために、先進と伝統の技術、そして豊か
To Customers
Yamaha will fully satisfy the customer, by offering high-quality
products and services, which use new and traditional technologies, as well as creativity and artistry, and continue to be a
known, trusted and loved brand.
ヤマハグループは音・音楽を原点に培った技術と感性で、新たな
Yamaha Corporation Fact Book 2002
な感性と創造性で、優れた品質の商品・サービスを提供し、存在
感と信頼感そして感動に溢れたブランドでありつづけます。
株主への約束
透明で質の高い経営により、健全な業績を確保し、適正な成果の
蓄積と還元を図るとともに、情報開示に努め、株主の皆様の理解
と満足を高めます。
社員への約束
プロフィール/ Profile
ヤマハブランドを輝かせ、その価値を創り出していくのは社員一
人ひとりです。業務を通じ、各自がその能力を最大限に発揮し自
己実現ができるよう、機会の公平と公正な評価に努め、誇りと自
信の持てる、明るい組織風土づくりを目指します。
社会への約束
安全と地球環境への配慮を最優先し、高い倫理性を持って法律を
遵守し、良き企業市民として、地域社会、グローバル社会への社
会・文化・経済の発展に貢献します。
CONTENTS
1
財務ハイライト
Financial Highlights
2
セグメント情報
Segment Information
8
業績の推移
Performance Trends
11
収益性・成長性
Profitability and Growth
12
安定性・安全性
Soundness and Stability
14
効率性
Efficiency
16
キャッシュ・フロー
Cash Flows
17
一株当たりデータ
Per Share Data
18
貸借対照表
Balance Sheets
20
損益計算書
Statements of Operations
21
キャッシュ・フロー計算書
Statements of Cash Flows
22
株式情報
Shareholder Information
24
ネットワーク
Network
To Shareholders
Yamaha will increase the satisfaction and understanding of its
shareholders by striving for healthy profits and returns, and by
achieving productivity, using high quality, transparent management, and practicing disclosure.
To Employees
Yamaha strives to create an open atmosphere where employees
can realize goals, be given opportunities, and be evaluated fairly. Yamaha will be an organization where employees can demonstrate their abilities fully, have confidence, and earn pride.
To Society
Yamaha will give first priority to safety, and will care for the
environment. Yamaha will be a good corporate citizen, and
observe laws and work ethically, developing the economy, and
contributing to local and global culture.
FINANCIAL HIGHLIGHTS
財務ハイライト
百万米ドル
百万円/ Millions
Year Ended:
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
608,990
563,751
527,897
519,104
504,406
3,785.41
売上高
Net sales
営業利益(損失)
Operating income (loss)
24,103
(97)
8,082
23,001
11,043
82.87
当期純利益(損失)
Net income (loss)
13,475
(15,879)
(40,777)
13,320
(10,274)
(77.10)
総資産
Total assets
544,465
532,852
543,088
522,486
509,663
3,824.86
株主資本
Total shareholders’ equity
231,940
214,896
221,750
196,733
201,965
1,515.68
有利子負債
Interest-bearing liabilities
96,434
97,318
88,167
103,304
96,166
721.70
一株当たり
当期純利益(損失)
(円)
Net income
per share (Yen)
65.25
(76.89)
(197.45)
64.50
(49.75)
(0.37)
従業員数(人)
Number of employees
21,599
22,277
23,020
Yamaha Corporation Fact Book 2002
決算期/ Fiscal
Millions of
U.S. Dollars
1
Throughout this fact book, an exchange rate of US$1=¥133.25, the approximate rate prevailing on March 31, 2002, was used for convenience only.
財務ハイライト/ Financial Highlights
*米ドル金額は、2002 年 3 月末日の為替相場1ドル= 133.25 円で換算しています。
SEGMENT INFORMATION
セグメント情報
楽器/ Musical Instruments
売上高
営業利益
Net Sales
売上高構成比
Operating Income
(百万円)
Percentage of Total Net Sales
(百万円)
Yamaha Corporation Fact Book 2002
(Millions of Yen)
(%)
(Millions of Yen)
450,000
100
35,000
408,025
383,365
30,694
387,004
27,077
72.3
284,901 286,920
2
73.3
62.9
19,819
セグメント情報/ Segment Information
56.9
54.8
12,290
4,738
0
1998/3 1999/3 2000/3 2001/3 2002/3
AV/IT
0
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
AV/ITを含む
AV/IT
Including AV/IT
百万米ドル
百万円/ Millions
決算期/ Fiscal
Millions of
U.S. Dollars
of Yen
Year Ended:
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
売上高
Net sales
383,365
408,025
387,004
284,901
286,920
2,153.25
営業利益
Operating income
19,819
30,694
27,077
12,290
4,738
35.56
設備投資額
Capital expenditure
9,312
9,936
7,846
6,117
8,837
66.32
減価償却費
Depreciation expenses
7,696
9,608
9,920
7,224
8,373
62.84
研究開発費
R&D expenses
16,133
11,195
11,521
86.46
* 1998/3 ∼ 2000/3 にはAV/I
Tを含む。
Note: Figures in 1998/3~2000/3 include AV/IT.
AV/IT
売上高
営業利益
Net Sales
売上高構成比率
Operating Income
(百万円)
Percentage of Total Net Sales
(百万円)
(Millions of Yen)
150,000
6,000
100,197
30
3,904
95,214
3
19.3
18.9
セグメント情報/ Segment Information
3,037
0
1998/3 1999/3 2000/3 2001/3 2002/3
0
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
百万米ドル
百万円/ Millions
決算期/ Fiscal
Yamaha Corporation Fact Book 2002
(Millions of Yen)
(%)
Year Ended:
1998/3
1999/3
Millions of
U.S. Dollars
of Yen
2000/3
2001/3
2002/3
2002/3
100,197
95,214
714.55
売上高
Net sales
営業利益
Operating income
3,904
3,037
22.79
設備投資額
Capital expenditure
1,587
2,133
16.01
減価償却費
Depreciation expenses
1,783
1,877
14.09
研究開発費
R&D expenses
4,970
5,096
38.24
* 1998/3 ∼ 2000/3 は楽器に含まれる。
Note: Figures in 1998/3~2000/3 are included in Musical Instruments.
リビング/ Lifestyle-Related Products
売上高
営業利益(損失)
Net Sales
売上高構成比率
Operating Income (Loss)
(百万円)
Percentage of Total Net Sales
(百万円)
Yamaha Corporation Fact Book 2002
(Millions of Yen)
(%)
(Millions of Yen)
80,000
20
2,000
1,046
892
59,067
367
4
46,865
46,944
44,841
0
45,714
セグメント情報/ Segment Information
9.6
8.8
-995
9.0
9.1
7.9
-2,474
0
1998/3 1999/3 2000/3 2001/3 2002/3
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
Millions of
U.S. Dollars
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
59,067
44,841
46,865
46,944
45,714
343.07
367
(2,474)
(995)
892
1,046
7.85
売上高
Net sales
営業利益(損失)
Operating income (loss)
設備投資額
Capital expenditure
2,793
1,940
1,683
991
851
6.39
減価償却費
Depreciation expenses
1,914
1,838
1,518
1,554
1,505
11.29
研究開発費
R&D expenses
1,517
1,364
1,282
9.62
電子機器・電子金属/ Electronic Equipment and Metal Products
売上高
営業利益(損失)
Net Sales
売上高構成比率
Operating Income (Loss)
(百万円)
Percentage of Total Net Sales
(百万円)
(Millions of Yen)
150,000
10,000
25
6,654
5,425
4,351
128,298
21.0
0
Yamaha Corporation Fact Book 2002
(Millions of Yen)
(%)
5
セグメント情報/ Segment Information
73,226
12.9
55,880
10.5
43,221
8.3
-18,113
36,628
7.3
0
1998/3 1999/3 2000/3 2001/3 2002/3
-28,421
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
Millions of
U.S. Dollars
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
128,298
73,226
55,880
43,221
36,628
274.88
5,425
(28,421)
(18,113)
6,654
4,351
32.65
売上高
Net sales
営業利益(損失)
Operating income (loss)
設備投資額
Capital expenditure
22,442
21,231
6,968
2,834
1,921
14.42
減価償却費
Depreciation expenses
23,036
22,315
14,365
2,653
3,068
23.02
研究開発費
R&D expenses
4,503
3,135
3,853
28.92
レクリェーション/ Recreation
売上高
営業損失
Net Sales
売上高構成比率
Operating Loss
(百万円)
Yamaha Corporation Fact Book 2002
(Millions of Yen)
(%)
(Millions of Yen)
40,000
0
10
-781
-1,240
6
Percentage of Total Net Sales
(百万円)
23,727
23,324
-1,283
23,484
セグメント情報/ Segment Information
21,771
21,590
-1,755
-1,741
4.4
4.3
4.1
4.1
3.8
0
1998/3 1999/3 2000/3 2001/3 2002/3
-4,000
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
Millions of
U.S. Dollars
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
売上高
Net sales
23,727
23,324
23,484
21,771
21,590
162.03
営業損失
Operating loss
(1,755)
(1,240)
(781)
(1,283)
(1,741)
(13.07)
設備投資額
Capital expenditure
1,963
1,744
1,403
1,392
1,867
14.01
減価償却費
Depreciation expenses
3,075
3,085
3,009
2,959
2,893
21.71
研究開発費
R&D expenses
0
0
2
0.02
その他/ Others
売上高
営業利益(損失)
Net Sales
売上高構成比率
Operating Income (Loss)
(百万円)
Percentage of Total Net Sales
(百万円)
(Millions of Yen)
30,000
10
2,000
1,534
22,067
Yamaha Corporation Fact Book 2002
(Millions of Yen)
(%)
7
18,339
702
セグメント情報/ Segment Information
543
14,530
14,333
14,663
204
4.2
0
3.6
2.5
2.3
-389
2.7
0
1998/3 1999/3 2000/3 2001/3 2002/3
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
百万米ドル
百万円/ Millions
決算期/ Fiscal
Millions of
U.S. Dollars
of Yen
Year Ended:
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
売上高
Net sales
14,530
14,333
14,663
22,067
18,339
137.63
営業利益
Operating income (loss)
702
1,534
204
543
(389)
(2.92)
設備投資額
Capital expenditure
1,983
938
927
1,846
1,015
7.62
減価償却費
Depreciation expenses
729
859
798
1,135
1,050
7.88
研究開発費
R&D expenses
435
494
785
5.89
PERFORMANCE TRENDS
業績の推移
売上高および海外売上高比率
売上原価および売上原価率
Net Sales/Overseas Sales Ratio
Cost of Sales/Cost of Sales Ratio
(百万円/%)
(百万円/%)
Yamaha Corporation Fact Book 2002
(Millions of Yen/%)
(Millions of Yen/%)
650,000
650,000
608,990
563,751
527,897
519,104
504,406
71.4
68.4
416,434
8
70.4
66.7
67.5
402,240
371,757
業績の推移/ Performance Trends
346,200 340,412
41.5
42.8
41.7
40.6
42.5
0
1998/3 1999/3 2000/3 2001/3 2002/3
海外売上高比率 Overseas sales ratio
0
1998/3 1999/3 2000/3 2001/3 2002/3
売上原価率 Cost of sales ratio
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
売上高
Net sales
Millions of
U.S. Dollars
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
608,990
563,751
527,897
519,104
504,406
3,785.41
356,213
322,539
308,042
308,539
289,951
2,175.99
日本
Japan
北米
North America
91,182
96,203
96,005
91,720
93,524
701.87
欧州
Europe
79,619
82,517
73,397
72,957
73,458
551.28
その他
Other
81,974
62,491
50,452
45,886
47,472
356.26
41.5
42.8
41.7
40.6
42.5
海外売上高比率(%)
Overseas sales ratio (%)
売上原価
Cost of sales
416,434
402,240
371,757
346,200
340,412
2,554.69
売上総利益
Gross profit
192,556
161,511
156,140
172,904
163,994
1,230.72
販売管理費および売上高販売管理費比率
営業利益(損失)および売上高営業利益(損失)率
当期純利益(損失)および売上高当期純利益(損失)率
SG&A Expenses/
SG&A Expenses to Net Sales
Operating Income (Loss)/
Operating Income (Loss) to Net Sales
Net Income (Loss)/
Net Income (Loss) to Net Sales
(百万円/%)
(Millions of Yen/%)
(百万円 /%)
(Millions of Yen/%)
(Millions of Yen/%)
200,000
30,000
30,000
24,103
23,001
168,452
161,608
13,475
148,057 149,902
152,951
4.0
8,082
-0.0
4.4
13,320
11,043
2.6
2.2
2.2
1.5
0
0
-97
28.7
28.0
28.9
30.3
-2.8
-10,274
-15,879
-7.7
-40,777
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
売上高販売管理費比率 売上高営業利益(損失)率
売上高当期純利益(損失)率 SG&A expenses to net sales
Operating income (loss) to net sales
Net income (loss) to net sales
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
販売管理費
SG&A expenses
Millions of
U.S. Dollars
of Yen
9
業績の推移/ Performance Trends
27.7
-2.0
Yamaha Corporation Fact Book 2002
(百万円/%)
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
168,452
161,608
148,057
149,902
152,951
1,147.70
人件費
Personnel expenses
68,287
65,487
59,358
58,131
60,483
453.91
広告販促費
Advertising & promotion
26,398
22,879
20,811
22,052
22,455
168.52
営業利益(損失)
Operating income (loss)
24,103
(97)
8,082
23,001
11,043
82.87
当期純利益(損失)
Net income (loss)
13,475
(15,879)
(40,777)
13,320
(10,274)
(77.10)
設備投資額
減価償却費
Capital Expenditure
研究開発費
Depreciation Expenses
(百万円)
R&D Expenses
(百万円)
Yamaha Corporation Fact Book 2002
(Millions of Yen)
(百万円)
(Millions of Yen)
(Millions of Yen)
40,000
40,000
37,066
40,000
36,446
35,399
34,342
28,635
10
22,588
業績の推移/ Performance Trends
20,700
22,539
21,158
18,767
18,544
17,310
16,627
14,770
0
1998/3 1999/3 2000/3 2001/3 2002/3
0
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
Millions of
U.S. Dollars
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
設備投資額
Capital expenditure
37,066
34,342
18,544
14,770
16,627
124.78
減価償却費
Depreciation expenses
35,399
36,446
28,635
17,310
18,767
140.84
研究開発費
R&D expenses
20,700
22,588
21,158
22,539
169.15
PROFITABILITY AND GROWTH
収益性・成長性
株主資本当期純利益(損失)率(ROE)
純資産利益(損失)率(ROA)
Return on Equity (ROE)
Return on Assets (ROA)
(%)
(%)
Yamaha Corporation Fact Book 2002
10
10
6.4
6.0
2.5
2.5
0
0
11
収益性・成長性/ Profitability and Growth
-2.0
-2.9
-5.2
-7.1
-7.6
-18.7
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
%
決算期/ Fiscal
Year Ended:
1998/3
1999/3
2000/3
2001/3
2002/3
株主資本当期純利益(損失)率(ROE)
Return on equity (ROE)
6.0
(7.1)
(18.7)
6.4
(5.2)
総資産利益(損失)率(ROA)
Return on assets (ROA)
2.5
(2.9)
(7.6)
2.5
(2.0)
ROA=当期純利益(損失)/期首・期末平均総資本×100
ROE=当期純利益(損失)/期首・期末平均株主資本×100
ROA = net income / total assets (yearly average) x 100
ROE = net income / shareholders’ equity (yearly average) x 100
SOUNDNESS AND STABILITY
安定性・安全性
株主資本比率
インタレスト・カバレッジ
Shareholders’ Equity Ratio
流動比率
Interest Coverage
(%)
Current Ratio
(倍)
(%)
Yamaha Corporation Fact Book 2002
(Times)
50
10
200
42.6
8.23
40.8
40.3
8.01
39.6
37.7
146.1
132.2
12
119.8
安定性・安全性/ Soundness and Stability
112.4
115.5
4.05
3.05
0.28
0
1998/3 1999/3 2000/3 2001/3 2002/3
0
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
Millions of
U.S. Dollars
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
42.6
40.3
40.8
37.7
39.6
3,181
3,449
2,968
3,014
2,911
21.85
24,103
(97)
8,082
23,001
11,043
82.87
2,074
1,070
957
1,137
735
5.52
8.23
0.28
3.05
8.01
4.05
2002/3
株主資本比率(%)
Shareholders’ equity ratio (%)
支払利息
Interest paid
営業利益(損失)
Operating income
受取利息及び受取配当金
Interest and dividends received
インタレスト・カバレッジ(倍)
Interest coverage (Times)
流動資産
Current assets
217,408
212,911
205,979
231,872
211,140
1,584.54
流動負債
Current liabilities
181,409
189,386
178,281
175,371
144,498
1,084.41
流動比率(%)
Current ratio (%)
119.8
112.4
115.5
132.2
146.1
インタレスト・カバレッジ=
(営業利益 + 受取利息及び受取配当金)/支払利息
Interest coverage = (operating income + interest and dividends received) / interest paid
有利子負債および D/E レシオ
固定比率
Interest-Bearing Liabilities/
Debt to Equity Ratio
Fixed Assets to Capital Ratio
(%)
Yamaha Corporation Fact Book 2002
(百万円/%)
(Millions of Yen/%)
200
150,000
147.7
147.8
103,304
96,434
97,318
128.2
96,166
131.8
131.9
13
88,167
安定性・安全性/ Soundness and Stability
0.53
0.48
0.45
0.42
0.40
0
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
D/Eレシオ Debt to equity ratio
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
株主資本
Shareholders’ equity
有利子負債
Interest-bearing liabilities
D/Eレシオ
(%)
Debt to equity ratio (%)
固定資産
Fixed assets
固定比率(%)
Fixed assets to capital ratio (%)
Millions of
U.S. Dollars
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
231,940
214,896
221,750
196,733
201,965
1,515.68
96,434
97,318
88,167
103,304
96,166
721.70
0.42
0.45
0.40
0.53
0.48
297,320
283,202
292,460
290,614
298,522
128.2
131.8
131.9
147.7
147.8
有利子負債=長期借入金 + 短期借入金 + 転換社債
D/E レシオ=有利子負債/株主資本× 100
固定比率=固定資産/株主資本× 100
Interest-bearing liabilities = long-term debt + short-term debt + convertible bonds
Debt to equity ratio = interest-bearing liabilities / shareholders’ equity x 100
Fixed assets to capital ratio = fixed assets / shareholders’ equity x 100
2,240.32
EFFICIENCY
効率性
使用総資本回転率
売上債権回転率
Total Assets Turnover
Trade Receivables Turnover
(回)
(回)
Yamaha Corporation Fact Book 2002
(Times)
(Times)
1.5
8
6.35
6.40
6.55
6.52
6.40
1.11
1.05
14
0.98
0.97
0.98
効率性/ Efficiency
0.0
1998/3 1999/3 2000/3 2001/3 2002/3
0
1998/3 1999/3 2000/3 2001/3 2002/3
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
Millions of
U.S. Dollars
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
売上高
Net sales
608,990
563,751
527,897
519,104
504,406
3,785.41
総資本
Total assets
544,465
532,852
543,088
522,486
509,663
3,824.86
使用総資本回転率(回)
Total assets turnover (Times)
1.11
1.05
0.98
0.97
0.98
売上債権
Trade receivables
88,583
87,627
73,482
85,678
71,844
売上債権回転率(回)
Trade receivables turnover (Times)
6.35
6.40
6.55
6.52
6.40
使用総資本回転率=売上高/期首・期末平均総資本× 100
売上債権回転率=売上高/期首・期末平均売上債権× 100
Total assets turnover = net sales / total assets (yearly average) x 100
Trade receivables turnover = net sales / trade receivables (yearly average) x 100
539.17
棚卸資産回転率
仕入債務回転率
Inventories Turnover
Trade Payables Turnover
(回)
(回)
(Times)
8
Yamaha Corporation Fact Book 2002
(Times)
15
14.46
6.65
12.12
11.76
6.27
6.04
5.93
5.55
10.32
10.25
15
効率性/ Efficiency
0
1998/3 1999/3 2000/3 2001/3 2002/3
0
1998/3 1999/3 2000/3 2001/3 2002/3
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
棚卸資産
Inventories
Millions of
U.S. Dollars
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
2002/3
95,705
91,095
77,416
97,664
84,264
632.38
製品
Finished products
59,659
56,743
50,136
63,893
54,775
411.07
原材料・仕掛品
Raw materials & work in process
36,046
34,352
27,280
33,771
29,489
221.31
6.65
6.04
6.27
5.93
5.55
43,021
49,969
52,335
48,924
36,880
14.46
12.12
10.32
10.25
11.76
棚卸資産回転率(回)
Inventories turnover (Times)
仕入債務
Trade payables
仕入債務回転率(回)
Trade payables turnover (Times)
棚卸資産回転率=売上高/期首・期末平均棚卸資産× 100
仕入債務回転率=売上高/期首・期末平均仕入債務× 100
Inventories turnover = net sales / inventories (yearly average) x 100
Trade payables turnover = net sales / trade payables x 100
276.77
CASH FLOWS
キャッシュ・フロー
営業活動によるキャッシュ・フロー
営業キャッシュ・フローマージン率
Cash Flows from Operating Activities
Cash Flows from Operating
Activities to Net Sales
(百万円)
Yamaha Corporation Fact Book 2002
(Millions of Yen)
(%)
5
40,000
4.41
29,016
3.59
16
キャッシュ・フロー/ Cash Flows
10,851
0
1.11
1.05
0
-2.80
-9,089
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
1998/3
1999/3
Millions of
U.S. Dollars
of Yen
2000/3
2001/3
2002/3
2002/3
営業活動による
キャッシュ・フロー
Cash flows from
operating activities
10,851
(9,089)
29,016
217.76
投資活動による
キャッシュ・フロー
Cash flows from
investing activities
12,474
(5,441)
(10,437)
(78.33)
23,325
(14,530)
18,579
139.43
527,897
519,104
504,406
3,785.41
4.41
(2.80)
3.59
フリーキャッシュ・フロー(合計) Free
cash flow
売上高
Net sales
営業キャッシュ・フロー
マージン率(%)
Cash flows from operating
activities to net sales (%)
営業キャッシュ・フローマージン率=営業キャッシュ・フロー/売上高×100
Cash flows from operating activities to net sales = cash flows from operating activities/net sales x 100
PER SHARE DATA
一株当たりデータ
一株当たり当期純利益
一株当たり純資産
Net Income (Loss) per Share
一株当たり配当額
Shareholders’ Equity per Share
Dividends per Share
(円)
(円)
(Yen)
(Yen)
(Yen)
20
100
65.25
1,500
64.50
1,123.09
0
1,040.56
1,073.75
952.62
978.15
17
一株当たりデータ/ Per Share Data
-49.75
10
-76.89
8
7
6
3
-197.45
0
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
米ドル
円/ Yen
決算期/ Fiscal
Year Ended:
一株当たり当期純利益(損失)
Net income (loss) per share
一株当たり純資産
Shareholders’ equity per share
一株当たり配当額
Dividends per share
配当総額
Dividends paid
配当性向(%)
Dividend payout ratio (%)
配当性向=配当総額/当期純利益(単独)
Payout ratio = dividends paid / net income (non-consolidated)
Yamaha Corporation Fact Book 2002
(円)
U.S. Dollars
1998/3
1999/3
2000/3
2001/3
2002/3
65.25
(76.89)
(197.45)
64.50
(49.75)
(0.37)
1,123.09
1,040.56
1,073.75
952.62
978.15
7.34
10
6
3
7
8
0.06
2,065
1,239
619
1,445
1,651
12.39
40.7
—
—
14.9
—
2002/3
BALANCE SHEETS
貸借対照表
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
(資産の部)
流動資産
Yamaha Corporation Fact Book 2002
18
of Yen
Millions of
U.S. Dollars
2001/3
2002/3
2002/3
32,885
41,074
308.25
1,349
356
2.67
ASSETS
Current assets:
現金及び預金
Cash and bank deposits
有価証券
Marketable securities
受取手形及び売掛金
Notes and accounts receivable
88,466
74,519
559.24
貸倒引当金
Allowance for doubtful accounts
(2,788)
(2,675)
(20.08)
棚卸資産
Inventories
97,664
84,264
632.38
繰延税金資産
Deferred income taxes
9,201
9,332
70.03
その他
Prepaid expenses and other current assets
5,094
4,267
32.02
231,872
211,140
1,584.54
流動資産合計
Total current assets
貸借対照表/ Balance Sheets
有形固定資産
Property, plant and equipment, net of accumulated depreciation:
土地
Land
48,619
78,069
585.88
建物及び構築物
Buildings and structures
77,617
70,745
530.92
機械及び工具
Machinery and equipment
34,516
35,440
265.97
建物仮勘定
Construction in progress
2,363
1,003
7.53
163,117
185,261
1,390.33
84,980
76,307
572.66
有形固定資産合計
Total property, plant and equipment, net of accumulated depreciation
投資その他の資産
Investments and other assets:
投資有価証券
Investment securities
長期貸付金
Long-term loans receivable
2,188
1,733
13.01
賃貸不動産保証金敷金
Lease deposits
5,185
5,087
38.18
繰延税金資産
Deferred income taxes
28,876
26,384
198.00
連結調整勘定
Excess of cost over net assets acquired
333
173
1.30
その他
Other assets
5,932
3,573
26.81
投資その他の資産合計
Total investments and other assets
127,496
113,260
849.98
資産合計
Total Assets
522,486
509,663
3,824.86
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
(負債の部)
流動負債
of Yen
Millions of
U.S. Dollars
2001/3
2002/3
2002/3
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
58,349
47,871
359.26
一年以内返済の長期借入金
Current portion of long-term debt
10,160
4,363
32.74
支払手形及び買掛金
Notes and accounts payable
48,924
36,880
276.77
未払費用及び未払金
Accrued expenses
40,888
41,987
315.10
未払法人税等
Income taxes payable
1,858
1,224
9.19
特定取引前受金
Advances received
4,417
3,742
28.08
繰延税金負債
Deferred income taxes
34
65
0.49
その他
Other current liabilities
10,736
8,360
62.74
175,371
144,498
1,084.41
流動負債合計
Total current liabilities
固定負債
Long-term liabilities:
転換社債
Convertible bonds
24,317
24,317
182.49
長期借入金
Long-term debt
10,478
19,615
147.20
繰延税金負債
Deferred income taxes
257
316
2.37
土地再評価に係る繰延税金負債
Deferred income taxes on land revaluation
1,632
14,638
109.85
退職給付引当金
Accrued employees’ retirement benefits
67,250
59,074
443.33
役員退職慰労引当金
Directors’ retirement benefits
792
859
6.45
長期預り金
Long-term deposits received
40,592
38,472
288.72
その他
Other long-term liabilities
1,341
1,191
8.94
146,662
158,486
1,189.39
3,718
4,712
35.36
固定負債合計
Total long-term liabilities
少数株主持分
Minority interests
(資本の部)
Shareholders’ equity:
資本金
Common stock
28,533
28,533
214.13
資本準備金
Additional paid-in capital
26,924
26,924
202.06
再評価差額金
Reserve for land revaluation
8,269
16,482
123.69
連結剰余金
Retained earnings
170,496
157,589
1,182.66
その他有価証券評価差額金
Net unrealized holding gains/losses on other securities
308
766
5.75
為替換算調整勘定
Translation adjustments
(37,794)
(28,280)
(212.23)
資本合計(自己株式控除前)
Total shareholders’ equity
196,739
202,014
1,516.05
自己株式
Treasury stock, at cost
(5)
(49)
(0.37)
資本合計
Total shareholders’ equity
196,733
201,965
1,515.68
負債、少数株主持分及び資本合計
Total Liabilities and Shareholders’ Equity
522,486
509,663
3,824.86
19
貸借対照表/ Balance Sheets
Short-term loans
Yamaha Corporation Fact Book 2002
短期借入金
STATEMENTS OF OPERATIONS
損益計算書
百万米ドル
百万円/ Millions
決算期/ Fiscal
Yamaha Corporation Fact Book 2002
20
Year Ended:
of Yen
Millions of
U.S. Dollars
2001/3
2002/3
2002/3
売上高
Net sales
519,104
504,406
3,785.41
売上原価
Cost of sales
346,200
340,412
2,554.69
売上総利益
Gross profit
172,904
163,994
1,230.72
販売費及び一般管理費
Selling, general and administrative expenses
149,902
152,951
1,147.85
営業利益
Operating income
23,001
11,043
82.87
営業外収益/費用、特別損益
Other income (expenses):
損益計算書/ Statements of Operations
受取利益及び受取配当金
Interest and dividend income
1,137
735
5.52
支払利息
Interest expense
(3,014)
(2,911)
(21.85)
売上割引
Sales rebates
(4,391)
(4,477)
(33.60)
為替差損
Loss on foreign exchange
(879)
(352)
(2.64)
投資有価証券売却益
Gain on sale of marketable and investment securities
3,152
3,694
27.72
投資有価証券評価損
Loss from revaluation of marketable and investment securities
(513)
(14,857)
(111.50)
固定資産処分損益
Gain on sale or disposal of properties, net
4,086
(1,672)
(12.55)
持分法による投資利益
Equity in earnings of unconsolidated subsidiaries and affiliates
2,434
2,993
22.46
その他
Other, net
(1,521)
18
0.14
491
(16,829)
(126.30)
23,491
(5,784)
(43.41)
営業外収益/費用、特別損益計
Total other income (expenses)
税金等調整前当期純利益
Income (loss) before income taxes and minority interests
法人税、住民税及び事業税
Income taxes:
法人税、住民税及び事業税
Current
2,900
1,507
11.31
法人税等調整額
Deferred
6,826
2,429
18.23
9,726
3,936
29.54
13,765
(9,723)
(72.97)
法人税等計
Total income taxes
少数株主利益控除前当期純利益
Income (loss) before minority interests
少数株主利益
Minority interests
444
551
4.14
当期純利益
Net income (loss)
13,320
(10,274)
(77.10)
STATEMENTS OF CASH FLOWS
キャッシュ・フロー計算書
百万米ドル
百万円/ Millions
決算期/ Fiscal
Year Ended:
営業活動によるキャッシュ・フロー
税金等調整前当期純利益
減価償却費及び連結調整勘定償却費
投資有価証券評価損
退職給付引当金の増減額
受取利息及び受取配当金
支払利息
持分法による投資損益
投資有価証券売却益
固定資産売却益又は固定資産除去損
為替差損又は為替差益
売上債権の増減額
棚卸資産の増減額
その他
小計
利息及び配当金の受取額
利息の支払額
法人税等の支払額
営業活動によるキャッシュ・フロー
投資活動によるキャッシュ・フロー
有形固定資産の取得による支出
有形固定資産の売却による収入
投資有価証券の取得による支出
投資有価証券の売却による収入
その他
投資活動によるキャッシュ・フロー
財務活動によるキャッシュ・フロー
短期借入金の増減額
長期借入れによる収入
長期借入金の返済による支出
配当金の支払額
少数株主への配当金支払額
少数株主に対する株式の
発行による収入
その他
財務活動によるキャッシュ・フロー
現金及び現金同等物に
関わる換算差額
現金及び現金同等物の増減額
現金及び現金同等物期首残高
新規連結子会社の現金及び
現金同等物の期首残高
連結除外子会社の現金及び
現金同等物の期首残高
現金及び現金同等物期末残高
2002/3
2002/3
Cash flows from operating activities:
Income (loss) before income taxes and minority interests
Depreciation and amortization
Increase (decrease) in allowance for doubtful accounts
Loss from revaluation of investment securities
Decrease in employees’ retirement benefits, net of payments
Interest and dividend income
Interest expenses
Equity in earnings of unconsolidated subsidiaries and affiliates
Gain on sale of investment securities
Loss on sale or disposal of properties, net
Net loss on foreign exchange
Decrease (increase) in accounts and notes receivable—trade
Decrease (increase) in inventories
Decrease in accounts and notes payable—trade
Other, net
Subtotal
Interest and dividends received
Interest paid
Income taxes paid, net of payment
Net cash provided by (used in) operating activities
23,491
17,448
(126)
513
(957)
(1,137)
3,014
(2,433)
(3,152)
(4,086)
879
(8,058)
(14,863)
(5,669)
(9,034)
(4,170)
1,113
(2,938)
(3,094)
(9,089)
(5,784)
18,919
(507)
14,857
(8,210)
(736)
2,911
(2,993)
(3,667)
1,672
63
18,794
18,532
(15,715)
(4,775)
33,360
746
(2,918)
(2,171)
29,016
(43.41)
141.98
(3.80)
111.50
(61.61)
(5.52)
21.85
(22.46)
(27.52)
12.55
0.47
141.04
139.08
(117.94)
(35.83)
250.36
5.60
(21.90)
(16.29)
217.76
Cash flows from investing activities:
Purchases of properties
Proceeds from sale of properties
Purchases of investment securities
Proceeds from sale of investment securities
Other, net
Net cash used in investing activities
(15,082)
9,137
(3,546)
3,381
668
(5,441)
(14,876)
888
(858)
4,074
336
(10,437)
(111.64)
6.66
(6.44)
30.57
2.52
(78.33)
13,534
8,112
(7,197)
(1,239)
(242)
(13,241)
8,178
(5,665)
(1,652)
(468)
(99.37)
61.37
(42.51)
(12.40)
(3.51)
22
(3)
12,987
—
(31)
(12,880)
—
(0.23)
(96.66)
887
(656)
33,632
1,122
6,821
32,725
8.42
51.19
245.59
351
1,025
7.69
(602)
32,725
—
40,571
—
304.47
Cash flows from financing activities:
Increase (decrease) in short-term loans
Proceeds from long-term debt
Repayments of long-term debt
Cash dividends paid
Cash dividends paid to minority shareholders
Proceeds from stock
issued to minority shareholders
Other, net
Net cash (used in) provided by financing activities
Effect of exchange rate changes
on cash and cash equivalents
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Increase in cash and cash equivalents arising from
inclusion of subsidiaries in consolidation
Decrease in cash and cash equivalents arising from
exclusion of subsidiaries in consolidation
Cash and cash equivalents at end of year
21
キャッシュ・フロー計算書/ Statements of Cash Flows
仕入債務の増減額
2001/3
Yamaha Corporation Fact Book 2002
貸倒引当金の増減額
of Yen
Millions of
U.S. Dollars
SHAREHOLDER INFORMATION
株式情報
期末株価
出来高
Share Price at the End
of Fiscal Year
Trading Volume
(百万株)
Yamaha Corporation Fact Book 2002
(Million Shares)
(円)
(Yen)
250
2,500
22
株式情報/ Shareholder Information
1,300
1,318
1,254
122
115
114
107
912
88
832
0
0
1998/3 1999/3 2000/3 2001/3 2002/3
1998/3 1999/3 2000/3 2001/3 2002/3
円/ Yen
決算期/ Fiscal
Year Ended:
1998/3
1999/3
2000/3
2001/3
2002/3
期末株価
Share price at the end of fiscal year
1,300
1,254
832
1,318
912
高値
Share price—high
2,630
1,429
1,609
1,475
1,390
安値
Share price—low
1,220
1,010
620
710
745
出来高(百万株)
Trading volume (Million shares)
115
88
114
122
107
配当利回り
株価収益率
Dividend Yield
株価純資産倍率
Price to Earnings Ratio
(%)
Price to Book Value Ratio
(倍)
(倍)
(Times)
3
50
Yamaha Corporation Fact Book 2002
(Times)
2
1.38
23
株式情報/ Shareholder Information
1.21
1.16
19.9
20.4
0.93
0.77
0.88
0.77
0.53
0.48
0.36
0
1998/3 1999/3 2000/3 2001/3 2002/3
0
1998/3 1999/3 2000/3 2001/3 2002/3
0
1998/3 1999/3 2000/3 2001/3 2002/3
百万円/ Millions
決算期/ Fiscal
Year Ended:
of Yen
1998/3
1999/3
2000/3
2001/3
2002/3
配当利回り
(%)
Dividend yield (%)
0.77
0.48
0.36
0.53
0.88
株価収益率(倍)
Price to earnings ratio (Times)
19.9
—
—
20.4
—
株価純資産倍率(倍)
Price to book value ratio (Times)
1.16
1.21
0.77
1.38
0.93
発行済株式数(千株)
Number of shares issued (Thousand shares)
206,523
206,523
206,523
206,523
206,523
期末時価総額
Market capitalization
at the end of fiscal year
2,685
2,590
1,718
2,722
1,883
13.3
14.8
18.9
22.5
25.2
期末外国人持株比率(%)
Percentage of shares owned
by foreign investors (%)
NETWORK
ネットワーク
国内主要グループ会社/ Main Domestic Group Companies
楽器部門/ Musical Instruments
(株)ヤマハミュージック東京
(株)ヤマハミュージック西東京
(株)ヤマハミュージック横浜
Yamaha Corporation Fact Book 2002
24
(株)ヤマハミュージック関東
(株)ヤマハミュージック大阪
(株)ヤマハミュージック神戸
(株)ヤマハミュージック瀬戸内
(株)ヤマハミュージック名古屋
(株)ヤマハミュージック浜松
(株)ヤマハミュージック九州
(株)ヤマハミュージック北海道
(株)ヤマハミュージック東北
ヤマハミュージックトレーディング(株)
ネットワーク/ Network
(株)ヤマハミュージックメディア
ヤマハサウンドテック
(株)
ヤマハミュージッククラフト
(株)
(株)ヤマハホール
ヤマハピアノサービス(株)
(株)ヤマハミュージックコミュニケーションズ
ミュージックリース(株)
Yamaha Music Tokyo Co., Ltd.
Yamaha Music Nishitokyo Co., Ltd.
Yamaha Music Yokohama Co., Ltd.
Yamaha Music Kanto Co., Ltd.
Yamaha Music Osaka Co., Ltd.
Yamaha Music Kobe Co., Ltd.
Yamaha Music Setouchi Co., Ltd.
Yamaha Music Nagoya Co., Ltd.
Yamaha Music Hamamatsu Co., Ltd.
Yamaha Music Kyushu Co., Ltd.
Yamaha Music Hokkaido Co., Ltd.
Yamaha Music Tohoku Co., Ltd.
Yamaha Music Trading Corporation
Yamaha Music Media Corporation
Yamaha Sound Technologies Inc.
Yamaha Music Craft Corporation
Yamaha Hall Co., Ltd.
Yamaha Piano Service Co., Ltd.
Yamaha Music Communications Co., Ltd.
Music Lease Corporation
AV/IT 部門/ AV/IT
ワイズ(株)
ディーエス
(株)
YIS Corporation
D.S. Corporation
電子機器・電子金属部門/ Electronic Equipment and Metals
ヤマハ鹿児島セミコンダクタ(株)
ヤマハメタニクス(株)
Yamaha Kagoshima Semiconductor Inc.
Yamaha Metanix Corporation
リビング部門/ Lifestyle-Related
ヤマハリビングテック
(株)
ヤマハリビングプロダクツ
(株)
(株)ジョイエルホーム
Yamaha Livingtec Corporation
Yamaha Living Products Corporation
Joywell Home Corporation
レクリェーション部門/ Recreation
ヤマハリゾート
(株)
(株)キロロ開発公社
(株)はいむるぶし
(株)A 城
(株)鳥羽国際ホテル
(株)つま恋
(株)合歓の郷
(株)キロロアソシエイツ
(株)寸座ビラ
Yamaha Resort Corporation
Kiroro Development Corporation
Haimurubushi Inc.
Katsuragi Inc.
Toba International Hotel Inc.
Tsumagoi Inc.
Nemunosato Inc.
Kiroro Associates Inc.
Sunza Villa Inc.
その他部門/ Others
ヤマハファインテック
(株)
(株)ヤマハクレジット
ヤマハ保険サービス(株)
海外ネットワーク/ YAMAHA’s Overseas Network
アメリカ地域/ American Region
ヨーロッパ地域/ European Region
Yamaha Europa G.m.b.H.
Yamaha Music Central Europe D.C.
Yamaha Elektronik Europa G.m.b.H.
Yamaha-Kemble Music (U.K.) Ltd.
Yamaha Electronics (U.K.) Ltd.
Kemble & Company Ltd.
Kemble Music Ltd.
Yamaha Musique France S.A.
Yamaha Electronique France S.A.
Yamaha Electronique Alsace S.A.
Yamaha Scandinavia A.B.
Yamaha Musica Italia s.p.a.
Yamaha-Hazen Música S.A.
Yamaha KHS Music Co., Ltd.
Taiwan Yamaha Musical Inst. Mfg. Co., Ltd.
Kaohsiung Yamaha Co., Ltd.
Tianjin Yamaha Electronic Musical Instruments, Inc.
Yamaha Trading (Shanghai) Co., Ltd.
Yamaha Electronics Trading (Shanghai) Co., Ltd.
Guangzhou Yamaha-Pearl River Piano Inc.
Xiaoshan Yamaha Musical Instrument Co., Ltd.
Yamaha Electronics (China) Ltd.
Yamaha Music Korea Ltd.
Yamaha Music (Asia) Pte. Ltd.
Yamaha Electronics Asia Pte. Ltd.
Yamaha Music (Malaysia) Sdn. Bhd.
Yamaha Electronics Manufacturing (M) Sdn. Bhd.
P.T. Yamaha Music Indonesia (Distributor)
P.T. Yamaha Indonesia
P.T. Yamaha Music Manufacturing Indonesia
P.T. Yamaha Music Manufacturing Asia
P.T. Yamaha Musical Products Indonesia
P.T. Yamaha Electronics Manufacturing Indonesia
Siam Music Yamaha Co., Ltd.
Yamaha Music Australia Pty., Ltd.
Yamaha Music Gulf FZE
25
ネットワーク/ Network
Yamaha Corporation of America
Yamaha Electronics Corporation, U.S.A.
Yamaha Exporting, Inc.
Yamaha Music Manufacturing, Inc.
Yamaha Musical Products, Inc.
Yamaha Music InterActive Inc.
YMH Digital Music Publishing LLC.
Yamaha Canada Music Ltd.
Yamaha de México, S.A. de C.V.
Yamaha de Panamá, S.A.
Yamaha Musical do Brasil Ltda.
アジア・オセアニア地域/ Asia/Oceania Region
Yamaha Corporation Fact Book 2002
(株)ヤマハビジネスサポート
Yamaha Fine Technologies Co., Ltd.
Yamaha Credit Corporation
Yamaha Insurance Service Co., Ltd.
Yamaha Business Support Corporation
Public Relations Division
2-17-11, Takanawa, Minato-ku,
Tokyo 108-8568, Japan
Tel: +81 3 5488-6602
Fax: +81 3 5488-5060
URL: http://www.global.yamaha.com/
URL: http://www.yamaha.co.jp/
Printed in Japan on recycled paper
カタログコード –CM023