Yamaha Corporation · TSE:7951

Yamaha — FY2022.3 Earnings Presentation

36 slides from Yamaha's earnings presentation, May 12, 2022

  1. Slide 1: Analyst and Investor Briefing on FY2022.3

    Analyst and Investor Briefing on FY2022.3 (Fiscal year ended March 31, 2022) May 12, 2022 Yamaha Corporation

  2. Slide 2: FY2022.3 Full Year Highlights

    FY2022.3 Full Year Highlights Overview Performance in FY2022.3 • Revenue and profit both increased year-on-year as markets continued to recover from the impact of the spread of COVID-19. • Supply shortages continued due to semiconductor procurement difficulties. • Although logistics and procurement

  3. Slide 3: 1. Performance Summary

    = 1. Performance Summary YAMAHA

  4. Slide 4: FY2022.3 Summary

    FY2022.3 FY2023.3 Full Year Performance Full Year Outlook FY2022.3 Summary (billions of yen) FY2021.3 FY2022.3 Change (YoY) *2 Revenue 372.6 408.2 35.6 +9.5% Core Operating Profit 40.7 43.0 (Core Operating Profit Ratio) 2.3 +5.7% (10.9%) (10.5%) *1 Net Profit 26.6 37.3 10.6 +40.0% *1 Net profit is p

  5. Slide 5: Core Operating Profit Analysis

    FY2022.3 FY2023.3 Full Year Performance Full Year Outlook Core Operating Profit Analysis (billions of yen) Versus previous year Increase in sales Impact of and production and exchange Cost model mix, etc. rates increase SG&A -0.9 Ocean freight IMC*1 business Labor cost at -4.3 7.6 charges and others

  6. Slide 6: Performance by Business Segment

    FY2022.3 FY2023.3 Full Year Performance Full Year Outlook Performance by Business Segment (billions of yen) Exchange FY2021.3 FY2022.3 Change rate impact Revenue 239.0 276.2 37.2 15.4 Musical Core Operating Profit 32.4 37.3 4.9 6.6 Instruments Core Operating Profit Ratio 13.6% 13.5% -0.1p Revenue 10

  7. Slide 7: FY2023.3 Outlook

    FY2022.3 FY2023.3 Full Year Performance Full Year Outlook FY2023.3 Outlook (billions of yen) FY2022.3 FY2023.3 Change (YoY) (projections) *2 Revenue 408.2 440.0 31.8 +7.8% Core Operating Profit 43.0 50.0 7.0 +16.2% (Core Operating Profit Ratio) (10.5%) (11.4%) Net Profit *1 37.3 37.5 0.2 +0.7% *1 Ne

  8. Slide 8: Core Operating Profit Analysis

    FY2022.3 FY2023.3 Full Year Performance Full Year Outlook Core Operating Profit Analysis (billions of yen) Versus previous year Increase in sales and production and model mix, etc. SG&A IMC*1 business -2.9 and others 50.0 -0.2 Impact of Labor cost at exchange 15.1 overseas rates factories 43.0 Cost

  9. Slide 9: Outlook by Business Segment

    FY2022.3 FY2023.3 Full Year Performance Full Year Outlook Outlook by Business Segment (billions of yen) FY2022.3 FY2023.3 Exchange Change (projections) rate impact Revenue 276.2 302.0 25.8 4.8 Musical Core Operating 37.3 43.0 5.7 0.7 Instruments Profit Core Operating Profit Ratio 13.5% 14.2% +0.7p R

  10. Slide 10: Key Management Figures

    Key Management Figures Core Operating Profit Ratio ROE 13.8%* * 11.5% 10.1% 11.4% 9.2% 8.8% 10.9% 10.5% 7.4% 11.2% FY2020.3 FY2021.3 FY2022.3 FY2022.3 FY2023.3 FY2020.3 FY2021.3 FY2022.3 FY2022.3 FY2023.3 (target) (projections) (target) (projections) Promoting musical instrument Expanding the utiliz

  11. Slide 11: 2. Segment Overview & Updates

    2. Segment Overview & Updates

  12. Slide 12: Segment Revenue and Core Operating Profit: Musical Instruments

    Musical Instruments Audio Equipment IMC Business and Others Segment Revenue and Core Operating Profit FY2022.3 Overview: Revenue up in all product categories • Sales of pianos and wind, string, and percussion instruments grew by double digits. Despite semiconductor procurement difficulties, digital

  13. Slide 13: Revenue by Major Product Category

    Musical Instruments Audio Equipment IMC Business and Others Revenue by Major Product Category (billions of yen) Pianos Digital Musical Winds, Guitars Instruments Strings and Guitars includes Line 6 and Ampeg (110%) Percussion products 107.3 (107%) 96.1 84.7 (110%) 26.1 (103%) (114%) 67.4 22.3 64.1 (

  14. Slide 14: Revenue by Region

    Musical Instruments Audio Equipment IMC Business and Others Revenue by Region (110%) (billions of yen) (110%) 68.0 (102%) 65.5 (106%) (116%) (110%) 60.4 (105%) 58.3 59.3 (110%) 58.6 56.8 55.1 (106%) (126%) 53.3 (108%) 50.6 (97%) (98%) 14.9 48.7 18.1 48.2 12.7 46.1 (118%) 47.3 4Q 15.3 13.9 11.5 41.0

  15. Slide 15: Develop Products with Distinctive Individuality

    Musical Instruments Audio Equipment IMC Business and Others Develop Products with Distinctive Individuality Distinctive product line-up fusing a wide range of technologies Concert Grand Pianos ARIUS Digital Pianos Portable Keyboards CFX YDP-165, YDP-145, PSR-E473 YDP-S55, and YDP-S35 ARIUS recreates

  16. Slide 16: Develop Products with Distinctive Individuality

    Musical Instruments Audio Equipment IMC Business and Others Develop Products with Distinctive Individuality Distinctive product line-up fusing a wide range of technologies Line 6 Guitar Amps Line 6 Effects Pedals SILENT Bass Catalyst series DL4 MkII SLB300PRO The Catalyst family performs like tradit

  17. Slide 17: Segment Revenue and Core Operating Profit: Audio Equipment

    Musical Instruments Audio Equipment IMC Business and Others Segment Revenue and Core Operating Profit FY2022.3 Overview: Revenue fell for AV products and ICT equipment, but rose for PA [21/3期] 在宅、遠隔需要増もPA市場低迷し減収減益 equipment • AV: Sales decline was reduced from the previous forecast due to the partia

  18. Slide 18: Revenue by Major Product Category

    Musical Instruments Audio Equipment IMC Business and Others Revenue by Major Product Category (billions of yen) AV Products PA Equipment ICT Equipment PA equipment includes only sales of hardware products of PA Equipment (excluding engineering and installation services) (107%) (106%) 44.7 41.2 39.1

  19. Slide 19: Revenue by Region

    Musical Instruments Audio Equipment IMC Business and Others Revenue by Region (billions of yen) 34.0 (103%) (84%) 29.6 28.7 (102%) 4Q 11.5 26.7 (90%) 25.4 25.8 (78%) (103%) 8.9 22.7 (87%) 22.2 6.3 (97%) 21.0 6.2 5.5 (100%) 3Q 7.8 (78%) 6.0 (64%) (104%) (98%) 6.1 8.7 5.8 14.9 14.8 13.4 (80%) 7.1 (69%

  20. Slide 20: Develop Products with Distinctive Individuality

    Musical Instruments Audio Equipment IMC Business and Others Develop Products with Distinctive Individuality Strong product lineups to meet diverse needs Live Streaming Mixers True Wireless Earbuds Powered Monitor Speakers AG06MK2 and AG03MK2 TW-E5B MS101-4 Condenser Microphones YCM01 The standard mo

  21. Slide 21: Various Remote Communications Solutions

    Musical Instruments Audio Equipment IMC Business and Others Develop Products with Distinctive Individuality Various Remote Communications Solutions for flexible working style and easy communications Complete and Customizable Communications Solutions In-wall flat speaker system YFS ADECIA The ADECIA

  22. Slide 22: Segment Revenue and Core Operating Profit: IMC Business and Others

    Musical Instruments Audio Equipment IMC Business and Others Segment Revenue and Core Operating Profit FY2022.3 Overview: • Recovery in market conditions drove increased sales of electronic devices and automobile interior wood components, but sales of factory Revenue automation equipment declined. 40

  23. Slide 23: Shift into growing total in-vehicle solution domain

    Musical Instruments Audio Equipment IMC Business and Others Develop Products with Distinctive Individuality Shift into growing total in-vehicle solution domain Developed a technology that allows all seats in a car to enjoy the overwhelmingly immersive experience of 3D surround sound and started demo

  24. Slide 24: 3. Other Financial Figures

    = 3. Other Financial Figures YAMAHA

  25. Slide 25: Balance Sheet Summary

    Performance Other Shareholder Segment Overview ESG Summary Financial Figures Returns Balance Sheet Summary (billions of yen) As of March 31, As of March As of March Change 2023 31, 2021 31, 2022 (projections) Cash and cash equivalents 129.3 172.5 43.2 158.0 Trade and other receivables 57.3 60.0 2.7

  26. Slide 26: Capital Expenditure/Depreciation and R&D Expenses

    Performance Other Shareholder Segment Overview ESG Summary Financial Figures Returns Capital Expenditure/Depreciation and R&D Expenses Capital Expenditure/Depreciation (billions of yen) 25.6 1.9 ■Others 14.8 5.1 11.3 ■Audio Equipment 0.7 0.6 2.6 ■Musical Instruments 2.6 18.7 11.4 11.6 12.1 13.2 ■Dep

  27. Slide 27: 4. ESG

    YAMAHA

  28. Slide 28: ESG

    Performance Other Shareholder Segment Overview ESG Summary Financial Figures Returns ESG Contribute to sustainable development of music culture and society Culture Society Enhance diversity Environment Contribute to Coexist with and fulfillment of the people we sustainability of music culture the na

  29. Slide 29: Topics

    Performance Other Shareholder Segment Overview ESG Summary Financial Figures Returns Topics Yamaha selected as Yearbook Member 2022 and Yamaha selected as a constituent of Industry Mover 2022 in the S&P Global Corporate FTSE Blossom Japan Sector Relative Index Yamaha selected for all five Japanese e

  30. Slide 30: 5. Return to Shareholders

    5. Return to Shareholders YAMAHA

  31. Slide 31: Dividends, Total Return Ratio and Payout Ratio

    Performance Other Shareholder Segment Overview ESG Summary Financial Figures Returns Dividends, Total Return Ratio and Payout Ratio FY2020.3 FY2021.3 FY2022.3 FY2023.3 (projections) Annual per-share ¥66 ¥66 ¥66 ¥66 dividend Total return ratio 78.8%* - * Three year cumulative results under the medium

  32. Slide 32: Appendix

    Appendix manage YAMAHA

  33. Slide 33: FY2022.3 4Q Summary (Three Months)

    FY2022.3 4Q Performance FY2022.3 4Q Segment Full Year (three months) Overview (three months) Other Income/Expenses FY2022.3 4Q Summary (Three Months) (billions of yen) FY2021.3 4Q FY2022.3 4Q Change (QoQ) *2 Revenue 100.3 105.9 5.5 +5.5% Core Operating Profit 11.7 8.2 -3.5 (Core Operating Profit Rat

  34. Slide 34: Performance by Business Segment (Three Months)

    FY2022.3 4Q Performance FY2022.3 4Q Segment Full Year (three months) Overview (three months) Other Income/Expenses Performance by Business Segment (Three Months) (billions of yen) Exchange FY2021.3 4Q FY2022.3 4Q Change rate impact Revenue 63.1 71.5 8.4 3.8 Musical Core Operating Profit 9.4 8.2 -1.2

  35. Slide 35: Full Year Other Income and Expense

    FY2022.3 4Q Performance FY2022.3 4Q Segment Full Year (three months) Overview (three months) Other Income/Expenses Full Year Other Income and Expense (billions of yen) FY2021.3 FY2022.3 FY2023.3 (projections) Core Operating Profit 40.7 43.0 50.0 Profit from (loss on) Other disposal of fixed assets -

  36. Slide 36: Forward-looking statements notice

    In this report, the figures forecast for the Company’s future performance have been calculated on the basis of information currently available to Yamaha and the Yamaha Group. Forecasts are, therefore, subject to risks and uncertainties. Accordingly, actual performance may differ greatly from our pro

Yamaha — FY2022.3 Earnings Presentation on 6ix