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Yamaha Closes 3rd Quarter with 3% Music Products Sales Increase
According to the 2018 3rd quarter fiscal report announced on February 5, Yamaha closed the term with 333.9 billion yen sales, 1.6% up from the same term a year earlier. Operating revenue rose 16% to 48 billion yen, and ordinary income increased 17.4%. However, net profit went down 25.9%.
Sales of music business segment for the term increased 3.0% to 215 billion yen. Acoustic pianos continued to achieve 2-digit sales increase in China, and also grew in North America and other markets. Digital pianos and wind instruments sold very well in all overseas markets, and guitar sales significantly rose in China, and were reportedly well in North America and developing markets. As a result, operating revenue of the segment increased 27.2% to 35.8 billion yen.
Sales of pro audio products segment decreased 1.4% to 91 billion yen due to soft domestic installation services during the term as orders traditionally generate in 4th quarter. Sales of audio products went down in North America and other markets.