Yamaha 1999 Annual Report Download - page 14

YAMAHA CONSOLIDATED FINANCIAL REPORT 12
Overseas Sales
Millions of yen
Asia, Oceania
Year ended March 31, 1999 North America Europe and other areas Total
Overseas sales:
Overseas sales............................................................................................................ ¥96,203 ¥82,517 ¥62,491 ¥241,212
Consolidated net sales ............................................................................................... — — — 563,751
% of consolidated net sales........................................................................................ 17.1% 14.6% 11.1% 42.8%
Thousands of U.S. dollars
Asia, Oceania
Year ended March 31, 1999 North America Europe and other areas Total
Overseas sales:
Overseas sales ..................................................................................................... $798,034 $684,504 $518,382 $2,000,929
Consolidated net sales ........................................................................................ — — — 4,676,491
% of consolidated net sales ................................................................................. 17.1% 14.6% 11.1% 42.8%
Millions of yen
North America
and Asia, Oceania
Year ended March 31, 1998 South America Europe and other areas Total
Overseas sales:
Overseas sales ..................................................................................................... ¥98,792 ¥79,619 ¥74,365 ¥252,777
Consolidated net sales ........................................................................................ — — — 608,990
% of consolidated net sales ................................................................................. 16.2% 13.1% 12.2% 41.5%
Notes: (1)Overseas sales are sales of the Company and its consolidated subsidiaries in foreign countries
The geographical areas are divided into categories based on their geographical proximity.
In previous years, North and South America was an independent category in geographical segment information.
Effective the current fiscal year, operations in North America are disclosed separately due to their significant effect on the overall results of operations.
Operations in South America are included in Asia, Oceania and other areas due to their insignificant effect on the overall results of operations.
Under the current classification, overseas sales in 1998 would have resulted in ¥91,182 million ($756,383 thousand) in North America and ¥81,974
million ($680,000 thousand) in Asia, Oceania and other areas.
(2)Major nations or regions included in each geographical area:
(1)North America ―U.S.A., Canada
(2)Europe ―Germany, England
(3)Asia, Oceania and other areas ―Singapore, Australia
11. SUBSEQUENT EVENT
(1) The following appropriations of retained earnings of the
Company, which have not been reflected in the consolidated
financial statements for the year ended March 31, 1999, were
approved at a shareholders’ meeting held on June 29, 1999:
Thousands of
Millions of yen U.S. dollars
Cash dividends
(¥1.00=U.S.$0.008 per share)........... ¥206 $1,709
Transfer to legal reserve ...................... 21 174
Bonuses to directors and .................... — —
corporate auditors
........................................................... ¥227 $1,883
(2) Management has decided to close its semiconductor plant in
Tenryu and to further restructure a subsidiary, YAMAHA
Kagoshima Semi-conductor Inc.. Managements plans to
discontinue operations and to sell the Tenryu plant by February
2000.
(3) The Company plans execute a special early retirement benefit plan to
bring about an early restoration 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 approximately
¥10,000 million ($82,953 thousand) as approximately 600 eligible
employees may elect to subscribe to the plan within the period from
July 15, 1999 to August 31, 1999.