Harmonic Drive Systems (6324) Q4 2026 earnings summary

Executive summary

• Net sales for FY 2026/3 reached ¥59,557 million, up 7.0% year-over-year.

• Operating income was ¥2,567 million, a marginal increase from the prior year, but operating profit declined 94.4% year-over-year.

• Net income dropped 53.7% year-over-year to ¥1,608 million.

• Comprehensive income rose to ¥4,078 million, up 132.0% year-over-year.

• Major growth drivers included increased sales in industrial robots, semiconductor manufacturing equipment, and medical applications.

Financial highlights

• Gross profit increased to ¥18,133 million from ¥14,854 million year-over-year.

• EPS decreased to ¥16.99 from ¥36.57 year-over-year.

• Capital investment increased by 55.0% to ¥5,838 million.

• R&D costs rose 4.6% to ¥3,950 million.

• Free cash flow dropped sharply to ¥1,483 million from ¥8,996 million the previous year.

Outlook and guidance

• FY 2027/3 guidance projects net sales of ¥68,000 million (+14.2%), operating income of ¥6,200 million (+141.5%), and net income of ¥4,500 million (+179.7%).

• EPS forecast for FY 2027/3 is ¥47.54.

• Interim forecast: net sales ¥33,500 million (+20.3% YoY), operating profit ¥3,000 million (+544.5% YoY), net income ¥2,200 million (+593.8% YoY), and EPS ¥23.24.

• Capital investment and R&D spending are expected to increase further.