YAMAHA CORPORATION

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Yamaha Corporation Annual Report 2002 18 Environmental Activities Environmental Activities The YAMAHA Global Environmental Policy was first established in 1994. Since then, YAMAHA has continued to emphasize the importance of environmental protection while pursuing a broad range of environmental initiatives. In February 2001, in the “Promise to Society” section of the Company’s new corporate principles, YAMAHA reaffirmed its commitment to global environmental protection and promised to continue the aggressive implementation of environmental initiatives. The YAMAHA Environmental Report, which was first published in 2000, contains information regarding the status of the Company’s environmental program. 1. ISO 14001 Certification At present, YAMAHA is implementing an environmental management system to facilitate the acquisition of ISO 14001 certification for all of its domestic and overseas business units by March 2003. By March 2001, YAMAHA had achieved certification for all six of its domestic factories. In Japan, certification has been achieved for six of the eight manufacturing affiliates and three of the seven YAMAHA resorts. Overseas, seven of our fifteen manufacturing affiliates have been certified. By effectively employing its environmental management system, YAMAHA is conducting its business activities in an environmentally responsible manner and striving for continuous improvement in all of its operations. 2. Environment-Friendly Products YAMAHA has developed a broad range of products— including musical instruments, audio and telecommunications devices, electronic equipment, and automobile interior components—and implemented a product assessment program that reflects the distinctive characteristics of each product type. Energy Conservation � Measures are being taken to improve the efficiency of such audio products as power amplifiers as well as CDR-RW drives to reduce the energy consumption of home theater systems in standby mode. Resource Conservation � Measures are being taken to reduce the use of new wood materials through the development of acoustic guitars made from fastgrowing bamboo and discarded whiskey barrels. Hazardous Materials � Measures are being taken to use lead-free materials. Examples include a reduction in the quantity of lead used in solder materials and the use of lead-free paint on piano soundboards. In addition, efforts are being made to reduce the use of formaldehyde by changing the boards used inside soundproof rooms. Green Procurement � In 2002, YAMAHA began implementing a green procurement system calling for the procurement of safer raw materials to facilitate the manufacture of products containing fewer hazardous materials. Living Environment � YAMAHA has developed silent acoustic instruments to enhance the living environments of its customers. Beginning in 1993 with silent pianos, the Silent Series has grown to include violins, brass instruments, drums, cellos, violas, Japanese string instruments, and guitars. Packaging Materials � In fiscal 2000, following a sustained effort, YAMAHA achieved a 68% reduction in the use of wood-based packaging materials (compared with fiscal 1993). Building on this success, the Company has set goals calling for the reduction of foam and vinyl chloride packaging materials. 3. Production and the Environment Prevention of Global Warming � CO2 emissions per unit of net sales decreased 26%, to 15,500 tons (compared with fiscal 1999). Protection of Ozone Layer � Use of specified CFCs was discontinued by fiscal 1993. Efforts are being made to reduce use of substitute CFCs. Waste Materials � A 58% reduction in factory waste compared with fiscal 1994, with 64% of resources recycled, was achieved. 4. Social Contribution Each year during Environment Month*, approximately 1,000 YAMAHA employees team up to clean lakes near the Company’s head office as well as the areas surrounding each YAMAHA factory. * The Environment Ministry has designated June as Environment Month.
Six-Year Summary YAMAHA CORPORATION and Consolidated Subsidiaries At March 31 Millions of Yen 2002 2001 2000 1999 1998 1997 For the year: Net sales.......................................................... ¥504,406 ¥519,104 ¥527,897 ¥563,751 ¥608,990 ¥604,746 Cost of sales..................................................... 340,411 346,200 371,758 402,239 416,435 409,256 Gross profit...................................................... 163,994 172,904 156,140 161,511 192,556 195,490 Selling, general and administrative expenses .... 152,951 149,902 148,057 161,608 168,452 165,859 Operating income (loss) ................................... 11,043 23,001 8,082 (97) 24,103 29,631 (Loss) income before income taxes and minority interests........................................... (5,784) 23,491 (47,601) (6,532) 18,995 24,354 Net (loss) income ............................................. (10,274) 13,320 (40,777) (15,879) 13,475 14,066 At year-end: Total assets...................................................... ¥509,663 ¥522,486 ¥543,088 ¥532,852 ¥544,465 ¥549,162 Total shareholders’ equity ............................... 201,965 196,733 221,750 214,896 231,940 219,970 Total current assets ......................................... 211,140 231,872 205,979 212,911 217,408 231,853 Total current liabilities.................................... 144,498 175,371 178,281 189,386 181,409 191,327 Yen Amounts per share: Net (loss) income: Primary........................................................ ¥ (49.75) ¥ 64.50 ¥ (197.45) ¥ (76.89) ¥ 65.25 ¥ 71.97 After full dilution......................................... — 61.84 — — 62.86 65.83 Shareholders’ equity ........................................ 978.15 952.62 1,073.75 1,040.56 1,123.09 1,065.17 Ratios: Current ratio (%) ............................................. 146.1% 132.2% 115.5% 112.4% 119.8% 121.2% Shareholders’ equity ratio (%) ......................... 39.6 37.7 40.8 40.3 42.6 40.1 Return on assets (%)........................................ (2.0) 2.5 (7.6) (2.9) 2.5 2.6 Return on equity (%) ....................................... (5.2) 6.4 (18.7) (7.1) 6.0 7.2 Notes:1. Figures for net sales do not include national consumption tax. 2. Net income per share after full dilution (yen) for the fiscal years ended March 31, 2002, 2000 and 1999 is not presented because net losses for the years then ended were recorded. Yamaha Corporation Annual Report 2002 Six-Year Summary 19
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