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Harmonic Drive Systems Inc., The Current Fiscal Year Ordinary Profit Revised Downward to a Loss

Tue Nov 12, 2024 3:30 pm JST Earnings

6324 Harmonic Drive Systems Inc. 【J-GAAP】

Earnings Report

Harmonic Drive Systems Inc. <6324> [TSE-S] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 828 million yen (compared to a profit of 1.16 billion yen in the same period last year), reversing from the forecast of a 100 million yen to a loss.

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 2.7 billion yen to a loss of 500 million yen (compared to a profit of 570 million yen in the previous period), turning to a loss outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 328 million yen (compared to a loss of 593 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 694 million yen (compared to a profit of 53 million yen in the same period last year). The operating profit/loss margin worsened from -0.3% in the same period last year to -2.9%.

Kabutan News

Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 33,451 4,640 4,924 2,938 30.7 45.8 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 28,765 872 1,163 313 3.3 204.0 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 26,559 -637 -828 -850 -9.0 ー Nov 12, 2024 J-GAAP
YoY -7.7% － － － －

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 27,000 100 100 100 1.1 10 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 26,559 -637 -828 -850 -9.0 10 Nov 12, 2024 J-GAAP
Revision Rate -1.6% － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 58,500 2,700 2,700 2,000 21.1 20 May 13, 2024 J-GAAP
Mar, 2025 New 54,000 -400 -500 -400 -4.2 20 Nov 12, 2024 J-GAAP
Revision Rate -7.7% － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 27,031 -748 -593 -25,119 -264.3 10 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 27,441 237 328 450 4.7 10 Nov 12, 2024 J-GAAP
YoY +1.5% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 71,527 10,224 10,757 7,595 79.7 28 May 12, 2023 J-GAAP
Mar, 2024 55,796 124 570 -24,806 -261.0 20 May 13, 2024 J-GAAP
Mar, 2025 Guidance 54,000 -400 -500 -400 -4.2 20 Nov 12, 2024 J-GAAP
YoY -3.2% － － +98.4% +98.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 13,757 -39 53 81 0.9 -0.3 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 13,161 -211 -398 -715 -7.5 -1.6 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 13,870 -537 -195 -24,404 -256.8 -3.9 May 13, 2024 J-GAAP
Apr - Jun, 2024 12,998 -238 -134 -283 -3.0 -1.8 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 13,561 -399 -694 -567 -6.0 -2.9 Nov 12, 2024 J-GAAP
YoY -1.4% -923.1% － － －

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