Musical Instruments Business Remained Solid, Revenue and Profit Decreased Year-on-Year Due to Deteriorating Market Conditions for Industrial Machinery/Components Business and the Exchange Rate.
Through the third quarter of FY2020.3 (
? Revenue and Profit/Loss by Reportable Segment Figures in parentheses are percentage changes from the same period of the previous fiscal year, except as indicated.
Musical Instruments Revenue of
Overall revenues for the segment were up
Audio Equipment Revenue of
Overall revenue in this segment decreased
Industrial Machinery/Components and Others Revenue of
Overall revenues in this segment decreased
? Outlook for Performance in FY2020.3 Downward Revisions to Previous Forecasts, Incorporating Sales Trends and a Level of Uncertainty about the Future
For reference, results for the fiscal year ended
Note that the foreign currency exchange rates used in computing these forecasts for the fourth quarter are
Notes: 1. The Company has applied the International Financial Reporting Standards (IFRS) from the first quarter of FY2020.3. Financial figures through the previous third quarter and the previous fiscal year are also presented in accordance with IFRS.
2. Core operating profit corresponds to operating income under Japanese GAAP and is calculated by subtracting selling, general and administrative expenses from gross profit.
3. Figures less thanJPY100 million for revenue and profit and loss in the text of this release have, in principle, been rounded to the nearestJPY100 million .
For further information, please contact:
Corporate Communications Division,
Contact form: https://inquiry.yamaha.com/contact/?act=55&lcl=en_WW
Telephone: +81-3-5488-6601 / Facsimile: +81-3-5488-5060
(1) Key Financial Indicators (Billions of yen)
Previous Projections
(Full Year)
(Announced on
Revenue 118.4 114.1 331.7 322.6 434.4 425.0 435.0
Overseas 88.0 (74.3%) 85.8 (75.2%) 237.0 (71.5%) 232.4 (72.0%) 304.6 (70.1%) 298.5 (70.2%) 308.0 (70.8%)
Core Operating Profit (*1) 18.2 (15.3%) 16.3 (14.2%) 44.9 (13.5%) 42.4 (13.1%) 52.7 (12.1%) 50.0 (11.8%) 53.0 (12.2%)
Operating Profit 18.8 (15.8%) 16.5 (14.4%) 45.3 (13.7%) 44.0 (13.6%) 52.8 (12.2%) 51.5 (12.1%) 54.5 (12.5%)
Profit before Income Tax 18.3 (15.5%) 16.6 (14.5%) 47.5 (14.3%) 45.5 (14.1%) 56.5 (13.0%) 54.5 (12.8%) 57.0 (13.1%)
Net Profit (*2) 12.5 (10.5%) 11.6 (10.2%) 33.7 (10.1%) 32.7 (10.1%) 40.3 (9.3%) 39.5 (9.3%) 41.5 (9.5%)
Currency Exchange Rate (*3)
(Settlement Rate) (=yen)
ROE (*4) 13.4% 12.9% 12.3% 12.1% 11.1% 10.9% 11.3%
ROA (*5) 9.1% 8.9% 8.3% 8.4% 7.5% 7.6% 7.9%
Basic Profit per Share
Capital Expenditures 2.5 4.5 10.5 11.7 16.0 20.0 22.0
(Depreciation Expenses) (2.8) (2.9) (8.2) (8.3) (10.6) (11.2) (12.7)
R&D Expenses 6.4 6.1 18.6 18.4 24.9 25.0 26.5
Cash Flows
Operating Activities 4.2 21.3 11.4 40.3 35.5 57.0 59.0
Investing Activities -4.6 -7.6 -17.9 -13.0 -23.1 -21.0 -20.0
Free Cash Flow -0.5 13.8 -6.5 27.3 12.4 36.0 39.0
Inventories at End of Period - - 102.4 103.6 101.0 99.0 99.0
Number of Employees
Overseas - - 14,599 14,723 14,639 14,700 15,400
Total (*6) - - 20,392 20,408 20,375 20,300 21,100
?Changes from the changes in
the scope of consolidation? - ---- --
Temporary Staff
(Average during the period) - - 7,960 8,068 7,733 8,100 7,800
Revenue by Business
Segment
Musical Instruments 75.4 (63.7%) 74.7 (65.5%) 213.2 (64.3%) 213.3 (66.1%) 279.5 (64.3%) 277.5 (65.3%) 281.0 (64.6%)
Audio Equipment 34.3 (28.9%) 31.7 (27.7%) 90.6 (27.3%) 86.2 (26.7%) 120.1 (27.7%) 116.5 (27.4%) 121.0 (27.8%)
Others 8.8 (7.4%) 7.7 (6.8%) 27.9 (8.4%) 23.1 (7.2%) 34.8 (8.0%) 31.0 (7.3%) 33.0 (7.6%)
Core Operating Profit by
Business Segment
Musical Instruments 13.3 12.5 33.8 34.8 40.8 41.5 43.0
Audio Equipment 4.0 3.5 8.1 7.1 9.6 8.5 10.0
Others 0.8 0.3 3.0 0.5 2.3 0.0 0.0
(2) Revenue by Business Segment and Region (Billions of yen)
(April-Dec, 2019) Revenue Change (*8) Revenue Change (*8) Revenue Change (*8) Revenue Change (*8)
??
??
??
86%
(100%)
??
??and other areas 37.9 106% 14.6 99% 1.8 70% 54.4 102%
99%
(100%)
Nine Months Results
Ended
Third Quarter of FY2020.3 Performance Outline
Three Months Results
Ended
Three Months Results
Ended
Nine Months Results
Ended
Nine Months Results
Ended
Results
(Previous Year)
Projections
(Full Year)
FY2019.3 FY2020.3 FY2019.3 FY2020.3 FY2019.3 FY2020.3 FY2020.3
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.
Musical Instruments Audio Equipment Others Total
??
Total 213.3 104% 86.2 23.1 83% 322.6 101%
38.5 111% 6.5 1.1 45% 46.1
Reporting Standards (IFRS) from the first quarter of fiscal year
ending
*1 Core operating profit is corresponding to operating income under the
Japanese GAAP, and is calculated deducting SG&A from gross profit.
*2 Net profit is presented as net profit attributable to owners of the parent
under IFRS standards.
*3, 7 Currency exchange rate is the export and import transaction rate
applied to profit calculation.
4Q Currency Exchange Rates US$=
*4, 5 ROE and ROA are calculated on an annually adjusted basis.
*6 Number of employees = Number of full-time staff at end of the period
*8 The Change indicates actual year-on-year changes discounting impact of
exchange rates and figures in parenthesis show actual year-on-year change
excluding the sales of OEM products
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