Yamaha Corporation · TSE:7951
Yamaha — Investor Day (May 2025)
32 slides from Yamaha's investor day presentation, May 8, 2025
Slide 1: Yamaha New Medium-Term Management Plan
Top Confidential Yamaha New Medium-Term Management Plan Apr. 2025-Mar. 2028 May 8, 2025
Slide 2: Review of the Previous Medium-Term Management Plan
Review of the Previous Medium-Term Management Plan
Slide 3: Review of the Previous Medium-Term Management Plan: Make Waves 2.0
Top Confidential Review of the Previous Medium-Term Management Plan: Make Waves 2.0 Despite structural reforms adapting to rapid market/environment changes, financial targets were not achieved. Issues are being clarified Progress: Key Strategies, Production Structural Reforms Revenue (¥ billion) Cor
Slide 4: Progress on Non-financial Indicators
Top Confidential Progress on Non-financial Indicators Fell short of production infrastructure investment target due to sharp market slowdown, but other non-financial targets largely achieved Further strengthen Indicators to connect more with customers New value creation indicators Resilience indicat
Slide 5: Trend Recognition
Top Confidential 環境認識 Trend Recognition Dynamic environmental changes present opportunities for new growth Environmental Change 1 Environmental Change 2 Environmental Change 3 Economic Changes Customer Changes Technological Changes Fluctuating Diversification Purchasing Generative AI Communication M
Slide 6: New Medium-Term Management Plan
Top Confidential New Medium-Term Management Plan
Slide 7: Management Vision
Top Confidential Management Vision Creating a future where individuality shines through the power of sound and music Enhance corporate value through the co-creation of social value ■The Power of Sound and Music New Business Providing new Creating new value by Pursuing the possibility of new value cr
Slide 8: Material Management Issues
Top Confidential Material Management Issues • Connect with customers • Provide new experiential value Customers by incorporating products and services • Foster a creative and ambitious Human organizational culture Resources • Respect for human rights and • Create new value through the Business Manag
Slide 9: Key Issues and Outline of the Strategies for the New Medium-Term Management Plan
Top Confidential 新中期経営計画の戦略骨子 Key Issues and Outline of the Strategies for the New Medium-Term Management Plan Management Vision (Long-Term Management Policy) Title of the medium-term management plan Strategies in the New Medium-Term Management Plan Rebuilding a strong business foundation Improving
Slide 10: Strategic Policy and Key Themes
Top Confidential 新中期経営計画の戦略骨子 Strategic Policy and Key Themes Management Creating a future where individuality shines through the power of sound and music Vision Enhance corporate value through the co-creation of social value Strategic Policy 1: Rebuilding a strong business Strategy Policy 2: Evolvi
Slide 11: Management Targets for the Medium-Term Management Plan Period
Top Confidential Management Targets for the Medium-Term Management Plan Period Management Targets Revenue growth rate (CAGR) ROE Financial Total return ratio 5％ Core operating profit ratio targets 10％ 13.5％ 50％ or more Rebuilding a strong Indicator for Expansion of Existing Business Scale Indicator
Slide 12: Business Portfolio
Top Confidential Business Portfolio Legend Foster Expand domain into existing Musical Instruments Audio Equipment New Businesses Growth adjacent areas/create new businesses Musical Mobility services Music Connect solutions Increase competitiveness and New accelerate growth businesses/re- Business Gr
Slide 13: Rebuilding a Strong Business Foundation
Rebuilding a Strong Business Foundation
Slide 14: 1-1 Musical Instruments Business
Rebuilding Top Confidential 1-1 Musical Instruments a Strong Business Foundation Business Quickly improve profitability of the piano and guitar businesses and return the digital musical instruments business to a growth trajectory (¥ billion) Trend and targets for sales and core operating profit rati
Slide 15: Piano business
Rebuilding Top Confidential 1-1 Musical Instruments a Strong Business Foundation Business Piano business Manufacturing Mid-/high-end fixed model sales cost reduction composition Improve profitability by reorganizing production bases; rebuilding a high value-added business -10% +5% Business environ
Slide 16: Wind, strings & percussion instruments
Rebuilding Top Confidential 1-1 Musical Instruments a Strong Business Foundation Business Wind, strings & percussion instruments Mid-/high-end wind instrument share growth Optimize development and production systems for continued growth and expand mid- to high-end market share through strategic prod
Slide 17: 1-2 Audio Equipment Business
Rebuilding Top Confidential 1-2 Audio Equipment a Strong Business Foundation Business Accelerate growth in B2B audio equipment by creating an optimal business structure and quickly improve profitability of the home audio business (¥ billion) Trend and targets for sales and core operating profit rati
Slide 18: Professional solutions business (PS)
Rebuilding Top Confidential 1-2 Audio Equipment a Strong Business Foundation Business Professional solutions business (PS) 3-yr sales growth CAGR Entertainment PA Equipment +7% Enhance the functional integration between mixers and speakers; expand system sales of product packages for growth Trend an
Slide 19: Creator & consumer audio business (CCA)
Rebuilding Top Confidential 1-2 Audio Equipment a Strong Business Foundation Business Creator & consumer audio business (CCA) 3-yr CS&C HA cost sales growth reduction Content sharing & communication CAGR -25% 1500 15 Grow as a brand supported by creators for +9% production, streaming, live performan
Slide 20: Focus Markets and Organizations/Systems
Rebuilding a Strong Business Foundation 1-3 Focus Markets 1-4 Organizations/Systems Improvement of profitability through business structural reforms based on environmental changes Organizations/systems Chinese market As a comprehensive musical instruments manufacturer, create future demand for produ
Slide 21: Evolving to Create the Future
Top Confidential Evolving to Create the Future
Slide 22: 2-1 Musical Instruments Business: Music Connect
Evolving Top Confidential 2-1 Musical Instruments to Create the Future Business “Be one with music” Music Connect drives business growth Music Connect business Use the power of technology Online lessons to expand the potential of people and music Expanding the number of people who enjoy music by imp
Slide 23: 2-2 Audio Equipment Business: Mobility solutions
Evolving Top Confidential 2-2 Audio Equipment to Create the Future Business Achieve high business growth in the audio equipment segment, including mobility solutions Mobility solutions business (MS)*1 3-yr sales growth CAGR Accelerate growth by offering premium +6% experiences in line with customer
Slide 24: Growth Markets and New Business
Evolving Top Confidential 2-3 Growth Markets Business to Create the Future 2-4 New Business Sales growth through proactive investment in Building of mechanisms for new priority markets business creation India Further grow sales by expanding sales network 3-yr sales Explore new business areas and bus
Slide 25: 2-4 New Business
Evolving Top Confidential 2-4 New Business to Create the Future Online matching Sound forest activities with band members lead to community- engaged and sustainable manufacturing Linking people who want to play instruments with instruments not being played Musical instrument Earth reuse Connecting p
Slide 26: Strengthening the Management Foundation
Top Confidential Strengthening the Management Foundation
Slide 27: Improve Capital and Asset Efficiency
Strengthening 3-1 Improve Capital and Asset Efficiency the Management Foundation Improve capital and asset efficiency, rapidly achieve ROIC > WACC Strengthening of balance sheet management through per- Cash allocation and strategic investments business ROIC tree analysis and actions - Reduction/ut
Slide 28: Improve Capital and Asset Efficiency: Portfolio Management
Strengthening Top Confidential 3-1 Improve Capital and Asset Efficiency the Management Foundation Pivot to balance sheet management to enhance capital efficiency and strengthening portfolio management; accelerate rapid remediation of Key transformation points challenging businesses and aggressive in
Slide 29: Strengthen Human Capital and Enhance Corporate Governance
Strengthening Top Confidential 3-2 Strengthen Human Capital and the Management Foundation 3-3 Enhance Corporate Governance Strengthen human capital Enhance corporate governance Under a creative and ambitious organizational culture, Set medium- and long-term management direction and employees who bel
Slide 30: Growth Targets
Top Confidential Growth Targets Consolidated (¥ billion) Trend and targets for sales and core operating profit ratio 600.0 50% New Medium-Term Management Plan FY24/25 FY27/28 Target 500.0 Other Other 40% Other Other Other Other AE sales 462.1 billion 520.0 billion 400.0 AE AE AE AE AE 30% revenue ye
Slide 31: Growth Factors (by Business Segment and Region)
Top Confidential Growth Factors (by Business Segment and Region) 5,400 Others Revenue Audio By region equipment +2.2 ＋22 5,200 (3-year sales CAGR for the mid-term plan) +32.2 (+4%) Region 3-yr sales CAGR 5,000 Musical ＋322 instruments 4% Foreign Mature countries 4,800 exchange FY2028/3 impact (+7%)
Slide 32: Forward-looking statements
Top Confidential Forward-looking statements in this document are based on information currently available to Yamaha and Yamaha Group companies, and include risks and uncertainties. Accordingly, actual results may differ significantly from these forecasts due to factors such as the economic environme