A1 : Operating income of the musical instruments segment declined ¥14.1 billion, from ¥19.2 billion to ¥5.1 billion.
In FY2010.3, factors reducing operating income included ¥10.4 billion due to foreign currency fluctuations, ¥2.2 billion due to losses on retirement severance benefit obligations, and ¥19.4 billion due to the decline in sales and production. These factors came to a total of ¥32.0 billion.
On the other hand, factors increasing operating income included ¥1.3 billion owing to cost reductions in materials, ¥0.2 billion owing to newly consolidated subsidiaries, ¥1.4 billion improvement in profitability because of structural reforms implemented in the previous fiscal year, ¥7.3 billion because of the positive impact of increases in product prices, and ¥7.7 billion owing to a reduction in selling, general and administrative expenses. These factors contributing to improvement in operating income were unable to compensate for the factors reducing operating income, and, thus, Yamaha reported a substantial drop in operating income.