Management PolicyMedium-Term Management Plan

  The Yamaha Group has formulated a new medium-term management plan titled “Yamaha Management Plan 125 (YMP125).” The plan sets out basic policies, key business strategies, and numerical targets for the three-year period from fiscal 2011 to 2013 (from April 1, 2010 to March 31, 2013).
Under this plan, Yamaha has positioned the three-year term as a period for building up a structure for future growth and will focus its management resources on the musical instruments, music, and audio domains to establish a strong foundation for growth. In addition, Yamaha will continue and promote structural management reforms as well as to seek to nurture new, budding growth areas.

  In the final year of the new plan, ending March 31, 2013, Yamaha will aim for ¥427.0 billion in consolidated net sales (representing a real growth rate of 15% for the three-year period), ¥25.0 billion in operating income (representing a 6% ratio of operating income to net sales), and a return on equity (ROE) of 7%.