Originally posted by Fran Carango:
(3)Numerical Targets (for FY2013.3)
�� Net Sales: ¥427.0 billion
(representing a real growth rate of 15% after exclusion of the
lifestyle-related products and magnesium molded parts businesses from net
sales)
�� Operating Income: ¥25.0 billion (6% of net sales)
�� ROE: 7%
�� Capital Investment: ¥38.0 billion (for three years)
�� Free Cash Flow: ¥40.0 billion (for three years)
(4)Accelerating Growth in China and Other Emerging Markets
Yamaha will focus on developing and launching products suited to these markets
and expanding its sales networks. Along with this, to expand the population of
music performers, in addition to developing music schools, Yamaha will create
and introduce local programs suited to customer preferences in these markets.
�� China: Expansion in sales from ¥16.1 billion to ¥24.5 billion (growth of 52%
in three years)
�� Asia-Pacific Region: Expansion in sales from ¥49.5 billion to ¥59.0 billion
(growth of 19% in three years)
�� Total Piano Strategy: Increase sales from ¥69.4 billion to ¥80.0 billion (a
5
15% increase)
�� Combo Instruments Strategy: Increase sales from ¥15.7 billion to ¥22.0
billion (a 40% rise)
�� Professional Audio Equipment: Increase sales from ¥28.6 billion to ¥38.0
billion (a 33% rise)
�� AV Products: Increase sales from ¥46.2 billion to ¥54.0 billion (growth of
17%)
�� Music playing: Raise income from this source to ¥2.0 billion in three years
6
�� Music entertainment: Increase sales from ¥13.1 billion to ¥18.0 billion (an
increase of 37%)
�� Expansion further in the “education” domain: Increase sales from ¥4.7
billion to ¥5.8 billion (an increase of 23%)
