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YAMAHA CORP Lowers Consolidated Full-year Forecast for FY 2013; Announces Business Restructuring

Wednesday, 6 Feb 2013 01:30am EST 

YAMAHA CORP announced that it has lowered the consolidated full-year forecast for revenue from JPY 367,500 million to JPY 365,000 million, operating profit from JPY 11,000 million to JPY 7,000 million, ordinary profit from JPY 9,000 million to JPY 6,000 million, net profit from JPY 3,500 million to JPY 0 million and earning per share from JPY 18.08 to JPY 0 for the fiscal year ending March 31, 2013. The Company lowered the consolidated full-year outlook due to the aggravated order environment, as well as extraordinary loss on business restructuring. The Company has decided to transfer its music instrument wholesales business and music school business to a wholly owned subsidiary A, effective April 1, 2013. At the same time, the Company has decided to integrate two other subsidiaries into the subsidiary A. The Company has also decided to integrate eight music instrument sales subsidiaries into one subsidiary, effective April 1, 2013. 

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