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52 Yamaha Annual Report 2005
Net sales
Cost of sales (Note 10)
Gross profit
Selling, general and administrative expenses (Note 10)
Operating income
Other income (expenses):
Interest and dividend income
Interest expense
Sales rebates
Loss on sale or disposal of property, net
Equity in earnings of unconsolidated subsidiaries and affiliates
Gain on sales of investment securities
Gain on transfer of substitutional portion of retirement benefit obligation and related
pension plan assets
Loss on impairment of fixed assets (Note 9)
Other, net (Note 11)
Income before income taxes and minority interests
Income taxes (Note 12):
Current
Deferred
Income before minority interests
Minority interests
Net income
See notes to consolidated financial statements.
2005
$4,973,266
3,123,969
1,849,288
1,516,892
332,387
6,593
(9,498)
(40,292)
(10,513)
84,831
60,844
185,557
(304,526)
6,723
(20,291)
312,096
134,994
(10,131)
124,853
187,233
3,809
$ 183,416
2004
¥ 539,506
337,813
201,693
156,637
45,056
539
(1,535)
(4,378)
(2,297)
10,447
5
—
—
(381)
2,400
47,456
4,769
(1,387)
3,382
44,074
532
¥ 43,541
2005
¥ 534,079
335,483
198,595
162,899
35,695
708
(1,020)
(4,327)
(1,129)
9,110
6,534
19,927
(32,703)
722
(2,179)
33,516
14,497
(1,088)
13,408
20,107
409
¥ 19,697
Millions of Yen
Thousands of
U.S. Dollars (Note 3)
Consolidated Statements of Income Yamaha Corporation and Consolidated Subsidiaries
Years ended March 31, 2005 and 2004