Yamaha 2011 Annual Report Download - page 54

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52 Yamaha Corporation
Fiscal 2011 Performance Overview
Sales in fiscal 2011 increased ¥2,613 million, or 4.8%,
to ¥57,023 million. Excluding declines resulting from
foreign currency effects (approximately ¥3.6 billion), sales
increased in real terms by roughly ¥6.2 billion, or 12.3%,
year on year.
In audio products, sales of front surround system
products in Japan grew along with the demand for
flat-panel TVs thanks to the new eco-points system,
a government subsidy program to promote the use
of energy-efficient products. Europe, China and other
regions performed steadily, while sales of mid-range to
high-end AV receivers decreased year on year in North
America due to stiff competition. Sales of commercial
online karaoke equipment surged after new products
began shipping in volume in the second half. Sales of
routers and conferencing system were also up.
Operating income surged ¥1,142 million, or 81.3%,
year on year, from ¥1,405 million to ¥2,547 million.
Higher sales of commercial online karaoke equipment
and increased production contributed to this dramatic
increase in earnings.
Fiscal 2011 Performance Overview
Sales in fiscal 2011 climbed ¥865 million, or 4.4%, to
¥20,610 million. Sales of sound generators for mobile
phones declined as global demand shifted from
hardware-based to software-based sound generation.
However, sales of graphics controllers used in amuse-
ment equipment and magnetic sensors for smartphones,
for which there is growing demand, increased.
In the electronic devices segment, operating income
came to ¥510 million, an improvement of ¥1,117 million
from the operating loss of ¥606 million in the previous fis-
cal year. This year-on-year increase in earnings is the result
of higher revenue and lower manufacturing costs.
AV/IT
Electronic Devices
Sales
Sales
Operating Income (Loss)
Operating Income (Loss)
(Millions of yen)
0
80,000
57,023
60,000
40,000
20,000
07/3 08/3 09/3 10/3 11/3
�
�
�
�
�
�
(Millions of yen)
0
60,000
40,000
20,000
07/3 08/3 09/3 10/3 11/3
�
�
�
�
�
�
20,610
� Semiconductors
� Electronic metals
(Millions of yen)
-1,000
3,000
2,000
1,000
0
07/3 08/3 09/3 10/3 11/3
2,547
(Millions of yen)
-4,000
4,000
2,000
0
-2,000
07/3 08/3 09/3 10/3 11/3
�
�
�
�
�
�
510
Sales
¥57,023 million
Sales
¥20,610 million
Operating Income
¥2,547 million
Operating Income
¥510 million
+4.8%
+4.4%
+81.3%
—
Desktop audio system TSX-140
Digital Sound ProjectorTM YSP-2200
Broadband VolP
router NVR500
Magnetic sensor YAS530
Graphics controller
for amusement
equipment YGV635