Yamaha 1998 Annual Report Download
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CORPORATE DESCRIPTION
CONTENTS
1Financial Highlights
2Consolidated Balance Sheets
4Consolidated Statements of Income
5Consolidated Statements of Shareholders’ Equity
6Notes to Consolidated Financial Statements
12 Report of Independent Auditors
13 Board of Directors and Corporate Auditors
14 Major Consolidated Subsidiaries
16 Investor Information
The forerunner of Yamaha Corporation
was founded in 1887 by Torakusu
Yamaha. On October 12, 1897,
Nippon Gakki, Co., Ltd., was incor-
porated (the corporate name was
changed to Yamaha Corporation on
the occasion of its 100th anniversary),
and Yamaha celebrated its 110th year
of operation in 1997.
Yamaha is one of the world’s lead-
ing manufacturers of pianos; electronic
musical instruments; and wind, string,
and percussion instruments. At the
same time, the Company has grown
through a broad spectrum of business
activities, including electronic devices
and equipment, professional audio
equipment, and audiovisual equipment.
To continue growing in the 21st
century, in 1997 Yamaha launched its
new management strategy called New
Values 21 (NV21). The Yamaha Group
will make a concerted effort to become
a truly global enterprise that fulfills its
corporate mission of contributing to
enriching the quality of life of people
worldwide.
MUSICAL INSTRUMENTS AND AUDIO PRODUCTS
FURNITURE AND HOUSEHOLD PRODUCTS
ELECTRONIC EQUIPMENT AND METAL PRODUCTS
RECREATION
OTHERS
BUSINESS SEGMENTS
Table of contents
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Page 1
...12, 1897, Nippon Gakki, Co., Ltd., was incorporated (the corporate name was changed to Yamaha Corporation on the occasion of its 100th anniversary), and Yamaha celebrated its 110th year of operation in 1997. Yamaha is one of the world's leading manufacturers of pianos; electronic musical instruments... -
Page 2
...L I G H T S Yamaha Corporation and Consolidated Subsidiaries Years ended March 31 Millions of Yen (except where indicated) 1998 1997 1996 1995 1994 NONCONSOLIDATED: Net sales ...Â¥417,218 Recurring profit ...11,429 Net income...5,068 Stated capital ...28,533 Number of shares outstanding ...206... -
Page 3
...YAMAHA Corporation and Consolidated Subsidiaries March 31, 1998 and 1997 T housands of U.S. Dollars (Note 2) Millions of Yen ASSETS 1998 1997 1998 Current assets: Cash and bank deposits (Note 4) ...Â¥ 20,871 Marketable securities (Note 4) ...1,721 Notes and accounts receivable: Unconsolidated... -
Page 4
... of Yen T housands of U.S. Dollars (Note 2) LIABLITIES AND SHAREHOLDERS' EQUITY 1998 1997 1998 Current liabilities: Short-term loans ...Â¥ 45,782 Current portion of long-term debt ...8,781 Notes and accounts payable: Unconsolidated subsidiaries and affiliates...542 Other...42,479 ...Accrued... -
Page 5
... I N C O M E YAMAHA Corporation and Consolidated Subsidiaries Years ended March 31, 1998 and 1997 T housands of U.S. Dollars (Note 2) Millions of Yen 1998 1997 1998 Net sales ...Â¥608,990 Cost of sales...416,435 Gross profit...Selling, general and administrative expenses (Note 6) ...Operating... -
Page 6
... Y YAMAHA Corporation and Consolidated Subsidiaries Years ended March 31, 1998 and 1997 T housands of U.S. Dollars (Note 2) Millions of Yen 1998 1997 1998 Common stock Balance at beginning of year (1998-206,523,263 shares; 1997-194,080,355 shares) ...¥ 28,533 ¥ 16,525 $ 215,995 Balance at... -
Page 7
...'s equity in the current net income or loss of such companies, after the elimination of unrealized intercompany profits. Investments in unconsolidated subsidiaries and affiliates not accounted for by the equity method are carried at cost. Internal profit arising from transactions of assets among the... -
Page 8
... of internal profits between consolidated companies. (l) Appropriation of retained earnings Under the Commercial Code of Japan, the appropriation of retained earnings with respect to a given financial period is made by resolution of the shareholders at a general meeting held subsequent to the close... -
Page 9
...1997: Millions of yen T housands of U.S. dollars Net assets per share are based on the number of shares of common stock outstanding at each balance sheet date. Yen U.S. dollars 1998 1997 1998 1998 1997 1998 Export bills discounted with banks ...Â¥1,866 As guarantors of indebtedness of others... -
Page 10
... dollars Year ended March 31, 1998 Musical instruments and audio products Furniture and household products Electronic equipment and metal products Recreation Others T otal Eliminations or unallocated amounts Consolidated I. Sales and operating income Sales to external customers...$2,902... -
Page 11
... of U.S. dollars North America and South America Asia, Oceania and other areas Eliminations or unallocated amounts Year ended March 31, 1998 Japan Europe T otal Consolidated I. Sales and operating income Sales to external customers...$3,028,880 Intersegment sales or transfers...1,075,276... -
Page 12
... of retained earnings of the Company, which have not been reflected in the consolidated financial statements for the year ended March 31, 1998, were approved at a shareholders' meeting held on June 26, 1998: Millions of yen T housands of U.S. dollars Cash dividends (Â¥5.00=U.S.$0.038 per... -
Page 13
... of their operations for the years then ended in conformity with accounting principles generally accepted in Japan applied on a consistent basis. T he U.S. dollar amounts in the accompanying consolidated financial statements with respect to the year ended March 31, 1998 are presented solely for... -
Page 14
... Kunihiro Maejima Masatada Wachi T akamasa Kaneko Yoshihiro Umeda Haruki Koike Shinya Hanamoto Shigeo Harikae Hirokazu Kato Corporate Auditors ( Kansayaku ) T omoyuki Mohri Naomoto Ota Hisatake Chatani Shunji T anaka (As of June 26, 1998) Y AM AH A C O N S O L ID A TED FIN A N C IA L REPO RT 1 3 -
Page 15
... AMERICAN REGION Yamaha Corporation of America Yamaha Musique France S.A. Yamaha Systems Technology Singapore Pte.Ltd. Motoki T akahashi Yamaha Electronique France S.A. Kozaburo Kume Motoki T akahashi Yamaha Electronique Alsace S.A. P.T. Yamaha Indonesia Noriyuki Egawa Yamaha Electronics Corp... -
Page 16
...Co., Ltd. Haruhisa Kawase Yamaha Resort Corporation T oshiro Sugino Yamaha Music Tohoku Co., Ltd. T akaji T agata Kiroro Development Corporation Masamitsu Miura T akaji T agata Note: T he names listed with subsidiaries are the names of the company presidents. Y AM AH A C O N S O L ID A TED FIN... -
Page 17
...2211 Fax: (053) 460-2525 Fiscal Year-End Date T okyo, Osaka, and Nagoya, First Section, Code No. 7951 Transfer Agent and Registrar T he Chuo T rust and Banking Co., Ltd., Nagoya Branch Stock T ransfer Agency Department Address: 2-20-25, Nishiki, Naka-ku, Nagoya 460-8685, Japan T el: (052) 231-1145...