Q3 2024 Yamaha Corp Earnings Presentation Transcript

Feb 07, 2024 / 01:00AM GMT

Release Date Price: $7.24

Transcript

Satoshi Yamahata

Yamaha Corporation - Managing Executive Officer

I'd like to start the briefing on the results of the first three quarters and the forecast of the fiscal year ending March 2024. Please refer to the presentation material at hand and turn to page 1. Here are the highlights of the first three quarters.

Due to the slower than expected recovery of the digital pianos in North America and Europe and the continued sluggishness in China, the musical instruments revenue decreased. However, the overall revenue increased due to the brisk sales of B2B audio equipment and the positive impact of exchange rates. Yet the profit decreased due to the revenue decline of the musical instruments and the production adjustments to reduce inventory.

As we decided to consolidate the piano frame production process in China to Japan and impairment loss

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