Yamaha 2009 Annual Report Download - page 54

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Consolidated Statements of Operations
Yamaha Corporation and Consolidated Subsidiaries
Years ended March 31, 2009 and 2008
Millions of Yen
Thousands of
U.S. Dollars
(Note 3)
2009 2008 2009
Net sales ¥459,284 ¥548,754 $4,675,598
Cost of sales (Notes 5 and 10) 290,381 343,688 2,956,134
Gross profit 168,902 205,066 1,719,454
Selling, general and administrative expenses (Note 10) 155,057 172,220 1,578,510
Operating income 13,845 32,845 140,945
Other income (expenses):
Interest and dividend income 2,601 3,925 26,479
Equity in earnings of affiliates —145 —
Interest expenses (615) (1,068) (6,261)
Sales discounts (3,416) (4,105) (34,776)
Gain (loss) on sales or disposal of property, plant and equipment, net (621) 786 (6,322)
Gain on sales of investment securities 5763 51
Gain on sales of subsidiaries’ and affiliates’ stock, net —29,057 —
Special retirement expenses (Note 12) (96) (814) (977)
Loss on impairment of fixed assets (Note 9) (15,323) —(155,991)
Business restructuring expenses (Notes 5 and 11) (4,863) —(49,506)
Loss on valuation of investments in capital of subsidiaries and affiliates (3,301) (66) (33,605)
Other, net (Note 13) (373) 1,042 (3,797)
(26,004) 29,665 (264,726)
Income (loss) before income taxes and minority interests (12,159) 62,510 (123,781)
Income taxes (Note 14):
Current 3,790 17,552 38,583
Deferred 4,924 4,710 50,127
8,714 22,263 88,710
Income (loss) before minority interests (20,873) 40,247 (212,491)
Minority interests in income (loss) (258) 689 (2,626)
Net income (loss) ¥ (20,615) ¥ 39,558 $ (209,865)
See notes to consolidated financial statements.
52 Yamaha Corporation