YAMAHA CORPORATION ANNUAL REPORT 2000

REVIEW OF OPERATIONS
Net Sales
(Billions of Yen)
22.6
’96
23.8
’97
23.7
’98
Operating Loss
(Billions of Yen)
-1.9
’96
-1.9
’97
-1.8
’98
23.3
’99
-1.2
’99
23.5
’00
-0.8
’00
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Major Products & Services
•Sightseeing facilities and accommodation
facilities (Tsumagoi, Nemunosato,
Haimurubushi, Sunza Villa, Kiroro,
Toba-kokusai, Kitanomaru)
•Ski resort (Kiroro Recreation Resort)
•Golf courses (Katsuragi Golf Club,
Kiroro Golf Club, Nemunosato Golf
Club)
Major Subsidiaries
•Yamaha Resort Corporation
•Kiroro Development Corporation
•Haimurubushi Inc.
0
0
Recreation
Although all the Company’s resort facilities recorded increases in
patronage during fiscal 2000, decreases in prices necessitated by the lackluster
economic conditions in Japan resulted in a decline in sales, and business conditions
remained severe. However, the sale of lots at the Nemunosato resort
proceeded favorably, and overall sales slightly exceeded those of the previous
fiscal year.
YAMAHA promoted improvement on the profit side as well as through
reductions in labor expenses and fixed costs. It also increased capital and strove
to strengthen financial content.
As a result, net sales for the segment edged up 0.7%, to ¥23.5 billion
(US$0.22 billion), and operating loss improved ¥0.4 billion year-on-year, to
¥0.8 billion (US$7.36 million).
We expect similar results in the coming term and plan to further decrease our
losses in this segment.
The emerald green ocean of Haimurubushi in Okinawa, Japan’s
southernmost resort spot
The Katsuragi Golf Club is highly acclaimed for its strategically designed golf courses.
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