Yamaha 2013 Annual Report Download - page 41

0
50
100
150
200
0
2
4
6
8
0
25
50
75
100
0
200
400
600
800
596
519
658 652
135
121
145
159
5.4 70
4.3
5.1
5.8
62 55
65
2009 2010 2011 20132012 2009 2010 2011 20132012 2009 2010 2011 20132012
R&D expenses % of R&D expenses to net sales
Sales by geographical segment Note 1
—Asia
(Billion ¥)
Sales by geographical segment Note 1
—Others
(Billion ¥) (Billion ¥) (%)
R&D expenses and % of R&D
expenses to net sales
705
170
705
170
76
5.4
–80
0
10
20
30
0
200
400
600
–71.2
2.5
342
7.5
249
311 310
9.7
2009 2010 2011 20132012
Net income (loss) per share—basic
Net income per share—diluted
Notes ・ Net income per share—diluted for fiscal 2009 is not
listed, since the Company registered a net loss per share
for the period.
・ Net income per share—diluted for fiscal 2012 is not
listed as there were no potential shares with dilutive effect.
Capital expenditures Depreciation Net assets % of net income to shareholders’ equity
Capital expenditures and depreciation
(Billion ¥)
Net income (loss) per share
(¥) (Billion ¥) (%)
Net assets and % of net income to
shareholders’ equity
12.7
423
0
15
30
45
60
–800
0
50
100
150
–756
21
56 56
77 77
126 126
46
34 36
54
49
57
37
34 34
45
2009 2010 2011 20132012 2009 2010 2011 20132012
Management Discussion and Analysis of Operations
R&D Expenses
With the aim of being a Kando Creating Company, the
Yamaha Motor Group proactively carries out research and
development in technologies related to engines, smart
power, vehicles, boats, controls, materials, and production,
as well as environmental and advanced safety technologies,
along the three growth tracks of “fulfilling lifestyles,”
“enjoyment in personal mobility,” and “innovative
technologies that harmonize with people, society, and the
Earth,” to constantly provide products that are “high-quality,
high-performance, lightweight, and compact.”
To create products that precisely meet the needs of
customers around the world, we have built an R&D structure
that is organized around our headquarters, and carry out
research and development in close cooperation with Group
companies in Japan and overseas.
To enhance our competitiveness in terms of Monozukuri
in India, we have built an India Integrated Development
Center, which commenced operations during fiscal 2013 as
our second integrated development center following the
ASEAN Integrated Development Center.
Operating Income
Operating income for fiscal 2013 was ¥55.1 billion, a ¥36.5
billion increase year on year. This resulted in a 2.4 percentage
point increase in the operating income margin, to 3.9%.
The motorcycle business recorded an ¥8.6 billion
increase in operating income, to ¥8.4 billion. In addition to
proactive outlays for R&D and sales promotions in
developed markets, the business incurred restructuring
expenses in Europe, but profit grew as a result of cost
reductions and yen depreciation.
Operating income in the marine products business was
¥31.8 billion, a ¥20.9 billion increase year on year. This was
driven by strong sales of outboard motors in North America
and Russia, along with improved earnings in the personal
watercraft and domestic boat businesses. Yen depreciation
also contributed to overall profit growth.
The power products business recorded operating
income of ¥5.3 billion, for a ¥4.7 billion increase year on
year. This reflected increased sales of snowmobiles, golf
cars, and new types of recreational off-highway vehicles
(ROVs), as well as yen depreciation.
In the industrial machinery and robots business,
operating income declined ¥0.8 billion, to ¥3.1 billion.
Although full-year unit sales of surface mounters rose year
on year, profit declined.
Operating income in the other products business was
¥6.7 billion, a ¥3.1 billion increase year on year. Increased
sales of electrically power assisted bicycles and industrial-
use unmanned helicopters led to overall profit growth.
Non-Operating Income and Expenses
Net non-operating income was positive in the amount of
¥5.0 billion, which was ¥3.7 billion less than in the previous
year. This included ¥6.7 billion of interest income, compared
with ¥5.9 billion in the previous year.
Extraordinary Income and Loss
Extraordinary income totaled ¥0.3 billion, marking a ¥0.4
billion decrease year on year. The main item was a ¥0.3
billion gain from the sale of noncurrent assets, compared
with ¥0.2 billion in the previous year.
Extraordinary losses totaled ¥2.7 billion, for a ¥0.6 billion
increase year on year. The main extraordinary losses were a
¥1.1 billion loss on disposal of noncurrent assets, compared
with ¥0.8 billion in the previous year, and an impairment loss
of ¥1.1 billion, which was roughly unchanged from the
previous year.
Income before Income Taxes
Income before income taxes for fiscal 2013 increased ¥31.8
billion year on year, to ¥57.7 billion.
Income Taxes
With the additional recording of deferred tax assets at
overseas subsidiaries, income taxes for fiscal 2013
decreased ¥5.8 billion year on year, to ¥8.2 billion.
Yamaha Motor Co., Ltd. ⎢ Annual Report 2013 Yamaha Motor Co., Ltd. ⎢ Annual Report 2013
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