Yamaha 2008 Annual Report Download - page 86

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84 Yamaha Corporation
22. DERIVATIVES AND HEDGING ACTIVITIES
The Yamaha Group utilizes derivative financial instruments such as forward foreign exchange contracts and foreign 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 the risk
arising from adverse fluctuation in foreign exchange transactions. The Yamaha Group has implemented internal regulations
under which any significant foreign exchange risk will be hedged.
No specific disclosure for derivatives has been made as the Yamaha Group, as a matter of principle, holds only derivatives
positions which meet the criteria for deferral hedge accounting.
23. SEGMENT INFORMATION
The business and geographical segments and overseas sales of the Company and its consolidated subsidiaries for the years
ended March 31, 2008 and 2007 are outlined as follows:
Business Segments
Millions of Yen
Year ended March 31, 2008
Musical
instruments AV/IT
Electronic
equipment
and metal
products
Lifestyle-
related
products Recreation Others Total
Eliminations or
unallocated
amounts Consolidated
I. Sales and operating income (loss)
Sales to external customers ¥ 340,021 ¥ 70,814 ¥ 45,000 ¥ 45,520 ¥ 11,353 ¥ 36,044 ¥ 548,754 ¥ — ¥ 548,754
Intersegment sales or transfers 1,316 1,316 (1,316) —
Total 340,021 70,814 46,316 45,520 11,353 36,044 550,070 (1,316) 548,754
Operating expenses 312,096 68,974 44,452 44,931 12,456 34,313 517,225 (1,316) 515,908
Operating income (loss) ¥ 27,924 ¥ 1,839 ¥ 1,863 ¥ 588 ¥ (1,103) ¥ 1,731 ¥ 32,845 ¥ — ¥ 32,845
II. Total assets, depreciation and
amortization and capital
expenditures
Total assets ¥ 311,642 ¥ 43,861 ¥ 33,086 ¥ 21,585 ¥ 8,062 ¥ 122,109 ¥ 540,347 ¥ — ¥ 540,347
Depreciation and amortization 10,156 1,794 4,618 1,063 926 1,730 20,289 20,289
Capital expenditures 16,472 2,009 2,435 647 600 2,228 24,394 24,394
Millions of Yen
Year ended March 31, 2007
Musical
instruments AV/IT
Electronic
equipment
and metal
products
Lifestyle-
related
products Recreation Others Total
Eliminations or
unallocated
amounts Consolidated
I. Sales and operating income (loss)
Sales to external customers ¥ 325,989 ¥ 72,823 ¥ 54,809 ¥ 46,573 ¥ 17,800 ¥ 32,365 ¥ 550,361 ¥ — ¥ 550,361
Intersegment sales or transfers 1,714 1,714 (1,714) —
Total 325,989 72,823 56,524 46,573 17,800 32,365 552,076 (1,714) 550,361
Operating expenses 303,951 70,685 53,423 45,422 19,337 31,570 524,391 (1,714) 522,676
Operating income (loss) ¥ 22,037 ¥ 2,137 ¥ 3,101 ¥ 1,150 ¥ (1,536) ¥ 794 ¥ 27,685 ¥ — ¥ 27,685
II. Total assets, depreciation and
amortization, loss on impair-
ment of fixed assets and capital
expenditures
Total assets ¥ 283,605 ¥ 41,807 ¥ 48,759 ¥ 22,814 ¥ 13,454 ¥ 148,589 ¥ 559,031 ¥ — ¥ 559,031
Depreciation and amortization 9,242 1,610 4,676 1,007 1,452 1,967 19,956 19,956
Loss on impairment of fixed assets 4,728 4,728 4,728
Capital expenditures 14,817 1,539 4,395 1,303 1,464 1,631 25,152 25,152