YAMAHA CORPORATION ANNUAL REPORT 2000

REVIEW OF OPERATIONS
Net Sales
(Billions of Yen)
332.5
’96
385.0
’97
395.9
’98
408.0
’99
Operating Income
(Billions of Yen)
11.3
’96
15.8
’97
19.8
’98
30.7
’99
387.0
’00
27.1
’00
500
0
40
0
Musical Instruments and Audio Products
Although sales of musical instruments in Japan during the term under
review were generally low, overseas sales produced favorable results. However,
overall sales declined owing to the effects of the appreciation of the yen.
In domestic sales of pianos, YAMAHA’s new lineup of grand pianos, which
includes the top-of-the-line CFIIIS concert grand piano, helped boost sales, sales
of upright pianos fell slightly, and sales of electronic pianos also declined. Overseas,
although sales in Europe and Central America and South America stagnated,
sales in North America remained favorable, and recovery was seen in Asia as well.
In digital musical instruments, although growth was seen in electronic
portable keyboards and such computer music products as “Hello Music,” overall
domestic results were lackluster, due to the current slow sales period for
Electones ® and Clavinovas ® . Overseas, electronic keyboards and Clavinovas ®
increased in sales volumes.
In wind, string, and percussion instruments, healthy results were seen both in
Japan and overseas in wind instruments, drums, and acoustic guitars.
In Yamaha music schools in Japan, although revenues from adult students
increased, the number of child students decreased, resulting in a slight decline in
tuition income.
In audio products, YAMAHA’s flagship home theater amplifier and receiver,
the DSP-AX1/RX-V1, immediately won high praise worldwide upon its release
for its high sound quality and helped boost sales in this segment both in Japan
and overseas. The Company also strove to augment its lineup of products that
combine audiovisual technologies and IT and released such new products as the
RP-100—the world’s first genuine audio
amplifier to employ USB interface.
The Junior Original
Concert was held in
Eisenach, Germany, to
commemorate the 250th
anniversary of Johann
Sebastian Bach’s death.
The 100th-anniversary edition upright piano
The S-80 music synthesizer is the resounding success of YAMAHA’s
devotion to technology and sound, achieved over long years of
development in voicing.
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