Nov 9,2023
Kawai Musical Instruments Mfg. Co., Ltd.

Second Quarter of FY2024.3 Consolidated Performance Summary(millions of yen)

2Q Results

2Q Results

ResultsForecasts

FY2023.3

FY2024.3△ 1,618 (△3.9%)

87,771

82,700Y/Y
Net Sales

FY2023.3

FY2024.3

42,02440,405Y/Y(△5.8%)

Japan Sales

22,616(53.8%)

22,448(55.6%)△ 167 (△0.7%)

47,160(53.7%)

46,340(56.0%)(△1.7%)

Overseas Sales

19,407(46.2%)

17,957(44.4%)△ 1,450 (△7.5%)

40,610(46.3%)

36,360(44.0%)(△10.5%)

North America5,500(28.3%)

5,091(28.4%)△ 408 (△7.4%)

10,826(26.7%)

10,360(28.5%)(△4.3%)

Europe5,147(26.5%)

4,609(25.7%)△ 537 (△10.4%)

10,519(25.9%)

10,080(27.7%)(△4.2%)

China

6,486(33.4%)

5,923(33.0%)△ 562 (△8.7%)

14,389(35.4%)

11,230(30.9%)(△22.0%)

Other Areas

2,274(11.8%)

2,332(12.9%)(2.6%)

4,875(12.0%)

4,690(12.9%)(△3.8%)

Operating Income

2,436

5.8%

1,812

4.5%

△ 624 (△25.6%)

5,045

5.7%

4,500

5.4%

(△10.8%)

Ordinary Income

2,861

6.8%

2,419

6.0%

△ 441 (△15.4%)

5,639

6.4%

5,000

6.0%

(△11.3%)Extraordinary Income or Loss

△ 23Net Income (*1)

1,769

Exchange Rate US$

122.9 yen

134.9 yen

12.0 yen

131.4 yen

140.0 yenExchange Rate EUR

134.3 yen

145.8 yen

11.5 yen

138.0 yen

152.0 yenExchange Rate CNY

18.9 yen

19.5 yen

0.5 yen19.5 yen

19.9 yen

Sales by Business
Segment

30
4.2%

42,024

5853

1,537

3.8%

40,405－△ 26△ 232 (△13.1%)

3,672△ 1,618 (△3.9%)

87,771204.2%

－

3,200

3.9%

(△12.9%)82,700(△5.8%)Musical Instruments andEducation Related Business

35,321(84.0%)

33,731(83.5%)△ 1,590 (△4.5%)

72,927(83.1%)

69,000(83.4%)(△5.4%)

Material Processing
Business

5,199(12.4%)

4,706(11.6%)△ 493 (△9.5%)

10,450(11.9%)

9,320(11.3%)(△10.8%)Others1,503(3.6%)

1,967(4.9%)(30.9%)

4,394(5.0%)

4,380(5.3%)(△0.3%)

2,436

5.8%

1,812

4.5%

△ 624 (△25.6%)

5,045

5.7%

4,500

5.4%

(△10.8%)

1,765

5.0%

1,451

4.3%

△ 314 (△17.8%)

3,857

5.3%

3,600

5.2%

(△6.7%)

Material Processing
Business

660

12.7%

366

7.8%

△ 294 (△44.6%)

1,166

11.2%

790

8.5%

(△32.2%)Others151.1%36

1.9%

20 (129.4%)

143

3.3%

190

4.3%

(32.9%)△ 1,107 (△7.1%)

32,649241(11.3%)

4,867(14.9%)

5,040(17.2%)(3.6%)△ 1,348 (△10.0%)

27,782(85.1%)

24,240(82.8%)(△12.7%)△ 394 (△5.4%)

15,505

Operating Income byBusiness Segment
Musical Instruments andEducation Related Business

464

Sales of
Keyboard Instruments
Piano

15,641

14,534

Japan Sales

2,129(13.6%)

2,370(16.3%)

Overseas Sales

13,512(86.4%)

12,164(83.7%)

Digital Piano

7,340

6,945

29,280(△10.3%)

14,900(△3.9%)

Japan Sales

1,751(23.9%)

1,445(20.8%)△ 305 (△17.4%)

3,283(21.2%)

3,250(21.8%)(△1.0%)

Overseas Sales

5,589(76.1%)

5,499(79.2%)△ 89 (△1.6%)

12,221(78.8%)

11,650(78.2%)(△4.7%)*1 Net Income is this term's net profit attributing to the shareholders of the parent company.
Consolidated financial forecasts are subject to decisions and suppositions based on the latest information available at the timing of releasing this material.
Accordingly, actual consolidated results may differ from the forecasts due to various factors.
This document has been translated from the Japanese original for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.