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53Annual Report 2008
Fiscal 2007
Fiscal 2008
By region, sales in Japan fell year on year. Sales in North Amer-
ica also fell due to delays in the recovery of market conditions. In
Europe, by contrast, sales of digital musical instruments and profes-
sional audio equipment performed well, marking a year-on-year
increase. Sales also rose steadily in South Korea, Latin America and
the Middle East. China once again saw double-digit growth due to
increased piano production at Hangzhou Yamaha Musical Instru-
ments Co., Ltd. (Hangzhou Yamaha).
AV/IT
In fiscal 2008, sales in the AV/IT segment slipped ¥2,009 million,
or 2.8%, to ¥70,814 million. In AV equipment, although shipments
of the Digital Sound ProjectorTM YSP series of front surround
system products continued to record solid growth, sales of AV
receivers in North America and Europe decreased. Sales from
commercial online karaoke equipment produced on an OEM basis
were also down significantly. Conferencing systems were sluggish
due to delays in developing new sales channels.
Electronic Equipment and Metal Products
In fiscal 2008, sales in the electronic equipment and metal products
segment declined ¥9,809 million, or 17.9%, to ¥45,000 million.
Excluding the effects of transferring the electronic metal products
business in the second half of the fiscal year under review, sales fell
by ¥1.0 billion, or 1.8% compared to the previous year.
In the semiconductor business, sales of LSI sound chips for
mobile phones were significantly lower than those of the previous
fiscal year due to a drop in demand, especially overseas, caused by
a continuing shift toward the adoption of sound-generation soft-
ware. At the same time, shipments of LSI chips for digital amplifiers
used in flat-panel TVs and mobile phones grew, as did shipments
for audio and graphics LSIs used in amusement equipment.
Lifestyle-Related Products
In fiscal 2008, sales in the lifestyle-related products segment
decreased ¥1,053 million, or 2.3%, to ¥45,520 million. This resulted
partly from a drop in new construction demand accompanying
delays in authorities’ approval of construction applications following
the June 2007 implementation of the revised Building Standards
Law. System kitchens featuring artificial marble sinks posted contin-
ued favorable growth in sales, while system bathroom sales
declined due to lower unit prices caused by increased competition.
In order to strengthen the remodeling business, which is expected
to grow further, Yamaha continued to work to upgrade showrooms
and develop sales channels.
Recreation
In fiscal 2008, sales in the recreation segment fell by ¥6,447
million, or 36.2%, to ¥11,353 million. This decrease resulted
from the transfer of four of Yamaha’s six resort facilities in the
second half of the fiscal year.
Others
Sales in fiscal 2008 increased by ¥3,679 million to ¥36,044 million,
up 11.4% compared to the previous fiscal year. Sales expanded
with a major increase in production of magnesium parts for digital
camera manufacturers as well as a favorable response in Japan
and overseas to the inpresTM brand of golf products. Sales of
automobile interior wood components for luxury cars were virtually
at the same level as the previous fiscal year.
Sales by Region
In fiscal 2008, sales in Japan decreased on a year-on-year basis by
¥14,613 million, or 5.0%, to ¥276,614 million. The fall was due to
decreases in sales following the transfer of the electronic metal
products business and four resort facilities in the recreation seg-
ment, as well as decreased sales of musical instruments, semicon-
ductors, commercial online karaoke equipment and lifestyle-related
products. Businesses such as AV equipment, magnesium parts
and golf products posted year-on-year increases.
Sales in overseas markets in fiscal 2008 climbed by ¥13,006
million, or 5.0% compared to the previous fiscal year, to ¥272,139
million. Although sales of AV equipment fell, the decrease was
balanced by the increase due to depreciation of the yen and
[1] [2] [3] [4] [5] [6]
0
400,000
300,000
200,000
100,000
340,021
70,814
45,000 45,520
11,353 36,044
[1] [2] [3] [4]
0
300,000
78,121
104,114
89,903
276,614
200,000
100,000
Net Sales by Business Segment
(Millions of Yen)
Sales by Region
(Millions of Yen)
[1] Musical Instruments [1] Japan
[2] AV/IT [2] North America
[3] Electronic Equipment
and Metal Products
[3] Europe
[4] Lifestyle-Related
Products
[4] Asia, Oceania and
Other Areas
[5] Recreation
Fiscal 2007
Fiscal 2008
[6] Others