TOKYO -- Yamaha drummed up a record annual net profit of 54.3 billion yen ($495 million) thanks to soaring Chinese demand for high-quality acoustic pianos, guitars and other instruments.
That represents 16% growth in the bottom line in the year ended March 31, the Japanese manufacturer said Tuesday. Sales climbed 6% to 432.9 billion yen, with much of that coming from a 22% leap in mainland sales of musical instruments. Operating profit grew 10% to 48.8 billion yen.
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