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Yamaha: 9-Month North American Audio Sales Up

Shizuoka, Japan — Yamaha said its nine-month audio sales in North America and in emerging economies grew in the nine months ending Dec. 31, 2012. 2/06/2013 09:59:00 AM Eastern

Shizuoka, Japan — Yamaha said its nine-month audio sales in North America and in emerging economies grew in the nine months ending Dec. 31, 2012.

The performance contributed to a 1.2 percent gain in global consolidated sales to 273.9 billion yen.

Overall operating profit, however, fell 5.1 percent to 10.4 billion yen, although net income rose 63.6 percent to 4.5 billion yen.

Audio sales worldwide posted a “slight drop” because of declining sales in Japan and Europe, said the company, which didn’t disclose additional audio-sales details.

In announcing its third-quarter and nine-month performance for fiscal 2013 ending March 31, Yamaha revised down its full-year forecasts for sales and profitability and expects to post zero net profit for the full fiscal year, down from a previously forecast net profit of 3.5 billion yen.

The profit revision is attributable mainly to higher than expected costs of restructuring domestic business in Japan. The company expects those costs to run 3.29 billion yen, up from a previously announced 1.77 billion yen.

Zero net income would be an improvement over the previous year, when the company posted a net loss of 29.4 billion yen.

For the year, Yamaha forecasts sales of 365 billion, down from the previous year’s 356.6 billion yen.

For the nine-month period, consolidated sales rose 1.2 percent year-over-year to 273.9 billion yen despite a negative 3.9 billion yen impact from foreign-currency fluctuations.

Nine-month sales in the company’s AV/IT segment — which includes audio, commercial karaoke, IT and telecom products — rose 0.8 percent to 42.5 billion yen after absorbing a negative impact of 0.8 billion yen caused by currency fluctuations.

The A/V-IT segment accounted for 15.5 percent of net sales in the nine-month period.

Yamaha’s largest business segment is musical instruments, accounting for 73.7 percent of nine-month sales, but the company also sells such IT and telecom equipment as routers and conferencing systems, commercial karaoke, semiconductors, golf products, factory-automation equipment and other products. The company also operates music schools in Japan.