Yamaha 2015 Annual Report Download - page 43

Income and Expenses
R&D Expenses
The Yamaha Motor Group pursues continuous growth as
an excellent engineering, manufacturing and marketing
enterprise with a prominent presence in the global market,
with the aim of being a “Kando Creating Company.” Our
Monozukuri (engineering, manufacturing and marketing)
standards are original and innovative concepts underpinned
by outstanding technologies based on the unique style of
Yamaha, projecting a “refi ned dynamism” in design. We
continuously pursue the three areas of “fulfi lling lifestyles,”
“enjoyment in personal mobility,” and “innovative
technologies that harmonize with people, the Earth
and society” Our R&D activities seek to offer original,
innovative solutions that build on our optimal control
technologies for power sources, vehicle bodies, boats
and airframes, to create products that incorporate logic
and emotion through core technologies including high
performance, light weight, fuel effi ciency and compactness,
with an emphasis on original styling, shape, material and
appeal to fascinate our customers.
By delivering products that embody the unique style
of Yamaha, we seek to create strong connections with
customers around the world. Our global R&D structure
is at the core of these efforts, and we are proactively
pursuing R&D activities in close cooperation with affi liated
companies in Japan and overseas.
Under these circumstances, the Group’s overall R&D
expenses were ¥91.3 billion.
Non-Operating Income and Expenses
Net non-operating income was positive in the amount of
¥4.8 billion, which was ¥5.2 billion, or 52.2%, lower than
in the previous year. This included ¥9.9 billion of interest
income (compared with ¥7.8 billion in the previous year),
a ¥2.0 billion of gain on revaluation of sales fi nance assets
(compared with a year-earlier ¥0.7 billion of loss) and
¥1.9 billion of sales fi nance-related income (compared
with ¥0.5 billion) at North American subsidiaries, and
foreign exchange losses of ¥9.2 billion (compared with a
¥5.1 billion gain last year) at subsidiaries in mainly Asia
and Central and South America.
Extraordinary Income and Loss
Net extraordinary income was negative in the amount of
¥2.6 billion, compared with a positive ¥0.5 billion in the
previous year. This was mainly from a loss on sales of
non-current assets totaling ¥1.3 billion (compared with
¥0.2 billion in the previous year), a loss on disposal of
non-current assets of ¥1.1 billion (compared with ¥1.0
billion in the previous year), and a gain on sales of non-
current assets of ¥0.5 billion (compared with ¥0.4 billion
in the previous year) at the Company and Japanese
subsidiaries.
Sales by geographical segment
Note 1
—Asia
(Billion ¥)
652
596
720
766
8
00
6
00
4
00
200
02011 2012 2013 2014 2015
705
Sales by geographical segment
Note 1
—Others
(Billion ¥)
159
135
183
162
200
150
100
50
02011 2012 2013 2014 2015
170
R&D expenses and % of R&D
expenses to net sales
(Billion ¥)
65
84
91
100
75
50
25
0
8
6
4
2
0
2011 2012 2013 2014 2015
76
5.1
5.8 5.4 5.6 5.7
70
R&D expenses Capital expenditures
Depreciation Net income per share—diluted
Net income per share—basic Net assets
% of R&D expenses to net sales % of net income to shareholders’ equity
(%)
Capital expenditures and
depreciation
(Billion ¥)
45 49
66 64
44
80
60
40
20
02011 2012 2013 2014 2015
57
34 34
38
36
310
16.2
12.6
532
600
450
300
150
0
24
18
12
6
0
2011 2012 2013 2014 2015
423
9.7
2.5
12.7
503
342
Net income per share
(¥)
77
21
172 172
240
180
120
60
02011 2012 2013 2014 2015
77
126 126
196 196
Note Net income per share—diluted for fiscal 2012
is not listed as there were no potential shares
with dilutive effect.
Net assets and % of net income
to shareholders’ equity
(Billion ¥) (%)
Management Discussion and Analysis of Operations
Yamaha Motor Co., Ltd. 󱚈 Annual Report 2015 Yamaha Motor Co., Ltd. 󱚈 Annual Report 2015
82 83