Yamaha : Presentation of Financial Statements (PDF 978 KB)

Analyst and Investor Briefing on

First Quarter of FY2023.3

(Fiscal year ending March 31, 2023)

August 4, 2022

Yamaha Corporation

FY2023.3 1Q Highlights

Overview

Performance in FY2023.3 1Q

• Although lockdowns in China and semiconductor procurement difficulties had negative effects, revenue increased due to the impact of exchange rates.
• Cost increases were more than offset by price optimization, the core operating profit decreased due to limited impact of exchange rates amid decline in actual sales.

Outlook

Full Year Forecasts for FY2023.3

• Although revision of the US$ exchange rate will sharply increase revenue, the impact on profit will be limited.
• Revenue is expected to decrease slightly in real terms from previous projections, due to factors including prolonged lockdowns in China.
• Continue efforts to ensure price optimization for rising procurement and energy costs.

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1. Performance Summary

FY2023.3 1Q Performance		FY2023.3
	(three months)				Full Year Outlook
FY2023.3 1Q (Three Months) Summary
											(billions of yen)
						FY2022.3 1Q	FY2023.3 1Q		Change (YoY)
	Revenue				102.5	105.9		+3.4		+3.3%*2
	Core Operating	13.4	11.0		-2.4		-18.0%
	Profit			(13.1%)	(10.4%)
	(Core Operating Profit Ratio)
	Net Profit*1	13.4	8.6		-4.8		-35.9%
									*2	-5.9%
	Exchange Rate (yen)
									(Excluding the impact
											of exchange rate)
	Revenue		US＄	110	130
	(Average rate during
		EUR	132	138
	the period)
	Profit		US＄	110	127
	(Settlement rate)		EUR	127	130

*1 Net profit is presented as net profit attributable to owners of parent on the consolidated financial statements.

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	FY2023.3 1Q Performance	FY2023.3
	(three months)	Full Year Outlook
Core Operating Profit Analysis
	Versus previous year			(billions of yen)
		Labor cost at
	Impact of	overseas		Ocean
	exchange rates	factories	Cost increase
		-0.2	freight
1.1	-0.9
charges

-1.5SG&A -0.9

13.4

11.0

FY2022.3 1Q

FY2023.3 1Q

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