Yamaha Q1 Core Operating Profit Rises; FY Forecast Remains Unchanged - Quick Facts

Yamaha (YAMHF.PK) recorded a substantial year-on-year increase in profit and revenue in all businesses for the first quarter. Musical Instruments revenue increased in all products with higher revenue of acoustic pianos, digital musical instruments and guitars. Revenue from audio products declined overall, as sales in North America and Japan fell below the previous year's level due to product supply shortages and other factors. The company's full-year forecast remains unchanged.

First-quarter profit attributable to owners of the parent was 13.4 billion yen compared to a loss of 1.8 billion yen, prior year. Basic profit per share was 76.30 yen compared to a loss of 10.29 yen. Core operating profit increased to to 13.4 billion yen from 1.1 billion yen due to a significant increase in revenue. First-quarter revenue increased by 42.7% year-on-year, to 102.5 billion yen.

For FY22, the company continues to project: basic earnings per share of 233.22 yen, core operating profit of 47.0 billion yen, and revenue of 400 billion yen.

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