Yamaha 2005 Annual Report Download - page 69
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Yamaha Annual Report 2005 67
20. DERIVATIVES AND HEDGING ACTIVITIES
The Yamaha Group utilizes derivative financial instruments such as forward foreign exchange contracts and currency options for the
purpose of hedging its exposure to adverse fluctuation in foreign currency exchange rates, but does not enter into such transactions
for speculative or trading purposes.
The Yamaha Group may, from time to time, enter into foreign forward exchange agreements in order to manage certain risks aris-
ing from adverse fluctuation in foreign exchange transactions. The Yamaha Group has implemented internal regulations under which
any significant foreign exchange risks will be hedged.
No specific disclosure for derivatives has been made as the Yamaha Group, as a matter of principle, holds only derivative positions
which meet the criteria for deferral hedge accounting.
21. SEGMENT INFORMATION
The business and geographical segments and overseas sales of the Company and its consolidated subsidiaries for the years ended
March 31, 2005 and 2004 are outlined as follows:
Business Segments
Year ended March 31, 2005
I. Sales and operating income (loss)
Sales to external customers
Intersegment sales or transfers
Total sales
Operating expenses
Operating income (loss)
II. Total assets, depreciation and
capital expenditures
Total assets
Depreciation
Impairment loss
Capital expenditures
¥ 302,617
—
302,617
288,434
¥ 14,183
¥ 279,126
7,819
379
11,311
¥ 77,720
—
77,720
74,069
¥ 3,651
¥ 41,855
1,492
46
1,111
¥ 42,844
—
42,844
42,869
¥ (24)
¥ 16,382
1,518
155
1,195
¥ 69,048
2,143
71,192
51,221
¥ 19,970
¥ 46,380
4,183
60
4,955
¥ 18,290
—
18,290
20,543
¥ (2,253)
¥ 17,582
2,621
31,988
2,323
¥ 23,557
—
23,557
23,388
¥ 168
¥ 104,250
1,322
72
1,804
Musical
instruments AV/IT
Lifestyle-
related
products Others
Electronic
equipment
and metal
products Recreation
¥ 534,079
2,143
536,222
500,527
¥ 35,695
¥ 505,577
18,958
32,703
22,702
¥—
(2,143)
(2,143)
(2,143)
¥—
¥—
—
—
—
¥ 534,079
—
534,079
498,383
¥ 35,695
¥ 505,577
18,958
32,703
22,702
Consolidated
Total
Eliminations
or unallocat-
ed amounts
Millions of Yen
Year ended March 31, 2005
I. Sales and operating income (loss)
Sales to external customers
Intersegment sales or transfers
Total sales
Operating expenses
Operating income (loss)
II. Total assets, depreciation and
capital expenditures
Total assets
Depreciation
Impairment loss
Capital expenditures
$ 2,817,925
—
2,817,925
2,685,855
$ 132,070
$ 2,599,181
72,809
3,529
105,326
$ 723,717
—
723,717
689,720
$ 33,998
$ 389,748
13,893
428
10,345
$ 398,957
—
398,957
399,190
$ (223)
$ 152,547
14,135
1,443
11,128
$ 642,965
19,955
662,930
476,962
$ 185,958
$ 431,884
38,951
559
46,140
$ 170,314
—
170,314
191,293
$ (20,980)
$ 163,721
24,406
297,868
21,631
$219,359
—
219,359
217,786
$ 1,564
$ 970,761
12,310
670
16,799
Musical
instruments AV/IT
Lifestyle-
related
products Others
Electronic
equipment
and metal
products Recreation
$ 4,973,266
19,955
4,993,221
4,660,834
$ 332,387
$ 4,707,859
176,534
304,526
211,398
$
—
(19,955)
(19,955)
(19,955)
$—
$
—
—
—
—
$ 4,973,266
—
4,973,266
4,640,870
$ 332,387
$ 4,707,859
176,534
304,526
211,398
Consolidated
Total
Eliminations
or unallocat-
ed amounts
Thousands of U.S. Dollars