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Yamaha’s 2021 Profit Increases 40%
According to Yamaha financial results announced on May 11, net profit of the company for the fiscal 2021 closed on March 31 increased 40% to 37.3 billion yen. Total sales for the term increased 9.5% to 408.2 billion yen.
Despite chip shortage and challenging logistics environment affected the musical instruments business, every segment for both domestic and overseas markets achieved sales increase as the global market regained strength.
Impacted by global chip shortage, sales of audio and ICT products decreased 6.6% to 96.9 billion yen. While sales of professional audio products increased thanks to growing demands. As a result, total sales of the segment declined 6.9 billion yen.
Recovering economy helped boost the sales of electronic device and parts for automobile segment. By contrast, FA products struggled. Total sales of parts, device and miscellaneous products segment advanced 5.3 billion yen accordingly.
Yamaha expects 440 billion yen total sales, a 7.8% increase and net profit of 37.5 billion yen, a 0.7% increase in 2022 given the present favorable market conditions of musical instruments as well as improving products supply.