Yamaha 1999 Annual Report Download

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CONSOLIDATED FINANCIAL REPORT 1999
Year ended March 31,1999

Table of contents

  • Page 1
    C O N S O L I D A T E D F I N A N C I A L R E P O R T 1 9 9 9 Year ended March 31,1999

  • Page 2
    ...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 3
    ... H T S Yamaha Corporation and Consolidated Subsidiaries Years ended March 31 Millions of Yen (except where indicated) 1999 1998 1997 1996 1995 NONCONSOLIDATED: Net sales ...Â¥391,951 12,586 Recurring profit (loss) ...Net income (loss)...13,711 Stated capital ...28,533 Number of shares outstanding...

  • Page 4
    ...S H E E T S YAMAHA Corporation and Consolidated Subsidiaries March 31, 1999 and 1998 Millions of Yen Thousands of U.S. Dollars (Note 2) ASSETS 1999 1998 1999 Current assets: Cash and bank deposits (Note4) ...Marketable securities (Note4 ) ...Notes and accounts receivable:...Less: Allowance for...

  • Page 5
    ... 2) LIABLITIES AND SHAREHOLDERS' EQUITY 1999 1998 1999 Current liabilities: Short-term loans ...Current portion of long-term debt (Note4) ...Notes and accounts payable: ...Accrued expenses ...Income taxes payable ...Employees' savings deposits ...Advances received ...Other current liabilities...

  • Page 6
    ... YAMAHA Corporation and Consolidated Subsidiaries Years ended March 31, 1999 and 1998 Thousands of U.S. Dollars (Note 2) Millions of Yen 1999 1998 1999 Net sales ...Â¥563,751 Cost of sales ...402,239 Gross profit...Selling, general and administrative expenses (Note 6) ...Operating income (loss...

  • Page 7
    ...Y YAMAHA Corporation and Consolidated Subsidiaries Years ended March 31, 1999 and 1998 Thousands of U.S. Dollars (Note 2) Millions of Yen 1999 1998 1999 Common stock Balance at beginning of year (1999- 206,523,263 shares; 1998- 206,523,263 shares) ...Â¥ 28,533 Balance at end of year (1999- 206...

  • Page 8
    ... in unconsolidated subsidiaries and affiliates not accounted for by the equity method are carried at cost. Unrealized profit arising from asset-related transactions among the consolidated group companies is fully eliminated. The excess of cost over underlying net assets at the date of acquisition is...

  • Page 9
    ...basic rate of pay, length of service and the conditions under which the termination occurs. Accrued employees' retirement benefits are stated at the amount which would be required to be paid if all employees covered by the plan voluntarily terminated their employment as of the balance sheet date. In...

  • Page 10
    ...each year after giving effect to the dilutive potential of common shares to be issued upon the conversion of convertible bonds. Net assets per share are based on the number of shares of common stock outstanding at each balance sheet date. Yen U.S. dollars 1999 1998 1999 Net income (loss) : Basic...

  • Page 11
    ...of yen Year ended March 31, 1999 Musical instruments and audio products Furniture and household products Electronic equipment and metal products Recreation Others Total Eliminations or unallocated amounts Consolidated I. Sales and operating income (loss) Sales to external customers...Â¥408...

  • Page 12
    ... in conjunction with the audio products in our musical instruments and audio products segment. Effective the current fiscal year, products have been transferred to the musical instruments and audio products segment. Under the current classification, sales to external customers and total assets in...

  • Page 13
    ... 1999 Japan North America Europe Total Consolidated I. Sales and operating income (loss) Sales to external customers...$2,896,060 Intersegment sales or transfers...1,388,569 Total sales...Operating expenses...4,284,629 4,401,775 $786,205 77,047 863,252 798,125 $326,155 North America and South...

  • Page 14
    ... of profitability. Under the plan, approximately 600 employees, including not only all management but also nonmanagement who are over 40 years old and have over 10 years of service as of December 31, 1999, are eligible to take early retirement benefits. Management estimates an extraordinary loss of...

  • Page 15
    ... present fairly the consolidated financial position of YAMAHA CORPORATION and consolidated subsidiaries at March 31, 1999 and 1998, and the consolidated results of their operations for the years then ended in conformity with accounting principles and practices generally accepted in Japan applied on...

  • Page 16
    ... Nagata Noriyuki Egawa Kunihiro Maejima Masatada Wachi Yoshihiro Umeda Haruki Koike Shinya Hanamoto Shigeo Harikae Hirokazu Kato Corporate Auditors (Kansayaku ) Tomoyuki Mohri Naomoto Ota Hisatake Chatani Shunji Tanaka (As of June 29, 1999) Y AM AH A C O N S O L ID A TED FIN A N C IA L REPO RT 1 4

  • Page 17
    ... AMERICAN REGION Yamaha Corporation of America Noriyuki Egawa Yamaha Electronics Corp., USA Kenji Iida Yamaha Music Manufacturing, Inc. Yoshinobu Ishikawa Yamaha Exporting, Inc. Noriyuki Egawa Yamaha Musical Products, Inc. Noriyuki Egawa Yamaha Canada Music Ltd. Mitsuru Umemura Yamaha de México...

  • Page 18
    ...Credit Corporation Shinya Hanamoto Yamaha Insurance Service Co., Ltd. Ikuo Yamada Yamaha Fine Technologies Co., Ltd. Akira Ikeya (As of June 29, 1999) Yamaha Sound Technologies Inc. Hiromitsu Hashimoto Yamaha Livingtec Corporation Isao Masuda Yamaha Living Products Corporation Muneharu Yano Yamaha...

  • Page 19
    ... Shareholders 14,181 Number of Employees 9,044 Stock Exchange Listings Tokyo, Osaka, and Nagoya, First Section, Code No. 7951 Transfer Agent and Registrar The Chuo Trust and Banking Co., Ltd., Nagoya Branch Stock Transfer Agency Department Address: 2-20-25, Nishiki, Naka-ku, Nagoya 460-8685, Japan...