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Market: Tokyo Symbol: 7951 ISIN: JP3942600002 Sector: Other Products

Company Presentation
Yamaha began when its founder, Torakusu Yamaha, repaired an imported reed organ in 1887. Since then, Yamaha has grown to become the world’s largest comprehensive musical instrument maker, manufacturing and selling a full lineup of musical instruments, from acoustic to digital. In addition to musical instruments, Yamaha has expanded its operations into the sound, music, and audio business, which includes PA equipment, audio products, and the materials and parts business, which deals primarily with network-related equipment and semiconductors.
With our unique expertise and sensibilities, gained from our devotion to sound and music, the Yamaha Group is committed to creating excitement and cultural inspiration together with people around the world.


Board of Directors
Takuya Nakata President and Representative Executive Officer
Satoshi Yamahata Director

Masahito Hosoi

Director
Shigeru Nosaka Outside Director
(Director, Executive Vice President & CFO of Oracle Corporation Japan)
Masatoshi Ito Outside Director
(Representative Director and Chairman of the Board of Ajinomoto Co., Inc.)

Junya Hakoda

Outside Director

Yoshimi Nakajima

Outside Director

Taku Fukui

Outside Director

Yoshihiro Hidaka Outside Director
(President, Chief Executive Officer and Representative Director of Yamaha Motor Co., Ltd)

Financial Highlights (Millions of Yen)
   2016/3  2017/3  2018/3
Net Sales 435,477 408,248 432,967
Operating Income 40,663 44,302 48,833
Net Income 32,633 46,719 54,378
Capital Expenditures 11,221 17,542 24,600
Depreciation Expenses 12,682 11,145 10,777
R&D Expenses 24,793 24,415 24,797
Cash Flows from Operating Activities 42,399 39,142 47,498
Cash Flows from Investing Activities 591 -9,663 4,766
Free Cash Flow 42,990 29,479 52,264
Total Assets 469,745 522,362 560,184
Net Assets 303,889 367,437 388,345
       
Operating Income to Sales (%) 9.3 10.9 11.3
Overseas Sales Ratio (%) 66.7 66.1 69.1
ROE (%) 10.1 14.0 14.5
ROA (%) 6.5 9.4 10.0
Equity Ratio (%) 64.2 69.9 69.0
Dividend Payout Ratio (%) 26.1 20.9 19.2
Total Number of Employees 28,338 28,113 27,786
       
Net Assets per Share (Yen) 1,601.55 1,948.01 2,125.51
Net Income per Share (Yen) 168.90 249.17 291.81
Dividends per Share (Yen) 44 52 56
P/E Ratio (Times) 20.1 12.3 16.0
P/B Ratio (Times) 2.12 1.57 2.20
Share Price at the End of Fiscal Year (Yen) 3,390 3,065 4,675
Net income for FY2016.3 is presented as net income attributable to owners of parent on the consolidated financial statements.
Total number of employees includes temporary staff (average during the period).