Yamaha has posted a surprise net loss of US$366M and lower sales; however, they are predicting a return to profits.Globally sales fell 4.6 percent to US$4.45 billion with the Company blaming a slow global economy and a high Japanese yen. Also contributing to the downturn was a shortage on parts, the company said.
Yamaha’s AV/IT segment, which includes home audio, commercial karaoke and IT equipment, accounted for 14.9 percent of revenues in fiscal 2012. Musical instruments accounted for 74 percent of revenues, and semiconductors accounted for 4.8 percent.
The musical instruments and AV/IT segments posted operating incomes of 7.7 million yen and 2.87 million yen, respectively, and semiconductors posted an operating loss of only 2.9 million yen.
Yamaha forecasts it will return to profitability in fiscal 2013 predicting a net income of 9 billion yen ($112 million) in fiscal 2013, which runs from April 2012 through March 31, 2013, on a 6 percent gain in net sales. To return to profitability, the company is accelerating sales efforts in China and emerging markets and optimizing manufacturing efficiencies.