Performance Forecasts
for FY 2020/3

Copyright © 2019 Harmonic Drive Systems Inc.

Consolidated performance forecasts for FY 2020/3(millions of yen)

FY2019/3
AmountPercent (%)

FY2020/3 forecasts

Year‐on‐year change

AmountChangePercent (%)

Rate (%)

Net sales

67,809100.0

42,000100.0▲25,809▲38.1

OperatingincomeOrdinary
income16,90324.9

1,0002.4▲15,903▲94.1

17,464

25.8

1,000

2.4

▲16,464▲94.3

Net income

11,601

17.1

500.1

▲11,551▲99.6

EPS (yen)

120.52－0.52－▲120.00▲99.6

Capitalinvestment

23,876－9,500－▲14,376▲60.2

Depreciation
costs

6,247－

7,900－

1,652

26.5

R&D costs

2,476－

2,450－▲26▲1.1

Assumed exchange rate for FY20/3 forecasts 1USD ＝ ¥110.00 1EUR ＝ ¥125.00 1CNY＝¥16.00
Net income refers to net income attributable to owners of parent.
Depreciation costs include depreciation cost of tangible assets and amortization cost of intangible assets and goodwill.

12Copyright © 2019 Harmonic Drive Systems Inc.

FY 2020/3 forecasts for main group firms(millions of yen)

EquitystakeNet incomeNet sales
AmountYear‐on‐yearchange (%)

AmountYear‐on‐yearchange (%)

Harmonic Drive Systems
Inc.

－22,000

▲55.3

100

▲99.0

HD Systems, Inc.
(Harmonic Drive L.L.C.)(U.S.A)

100%

（51%）

6,700

▲2.3400▲19.1

Harmonic AD, Inc.

100%

2,000

▲40.720▲94.5※3

Harmonic Drive Systems(Shanghai) Co., Ltd.

100%

4,400

8.7190

▲2.5

※4
※6

Harmonic Drive AG(Germany)

74.7%

15,500

▲2.8

2,100

▲9.9

※2
※5

*1 For overseas subsidiaries, the fiscal year ends December 31.
*2 Exchange rates: FY18/12 1USD = 110.43yen, FY19/12 (forecast) 1USD = 110.00yen*3 Exchange rates: FY18/12 1CNY = 16.72yen, FY19/12 (forecast) 1CNY = 16.00yen*4 Exchange rates: FY18/12 1EUR = 130.42yen, FY19/12 (forecast) 1EUR = 125.00yen*5 Net income of US subsidiaries (consolidated) is after excluding non‐controlling interests.
*6. Net income of German subsidiaries (consolidated) is before excluding non‐controlling interests.

13

Copyright © 2019 Harmonic Drive Systems Inc.

Non‐consolidated bookings by application (quarterly)(millions of yen)
20,00018,113

17,985

16,88918,00016,00014,000

1,640
62
773
423

14,583
1,581
96
957
613

12,000

1,707
310
878
650

1,780
494
829
1,091

9,546

10,0008,000

11,754

9,082

10,641

7,948
6,000
4,000

4,548

1,114
2,000
0

1,179

1,241

1,625

1,670

FY18/3 1Q

2Q

1,712
166
641
553

899
2,568
3Q

Semiconductor equipment
Gearbox for motor manufactores
Optical devices
Excavation system for the oil, etc.

1,903

335
1,126

4Q

FY19/3 1Q

Flat panel display equipment
Machine tools
Transporter
Others

6,183
1,407
203
385
443

4,102

2,638

409
1,373502598
372

3Q

4Q

161
624
2Q

1,078

2,793
999

Robotics
Printing machines
Measuring Machines
14Copyright © 2019 Harmonic Drive Systems Inc.

Non‐consolidated performance forecasts for FY 2020/3(millions of yen)

FY2019/3

FY2020/3 forecasts

Year‐on‐year change

AmountPercent (%)

AmountPercent (%)

ChangeNet sales

49,249100.0

22,000100.0▲27,249▲55.3

Operatingincome
Ordinary
income13,798

28.0

100.0

▲13,788▲99.9

14,21328.9

1500.7▲14,063▲98.9

Net income

10,41321.1

1000.5▲10,313▲99.0

EPS (yen)108.18－1.04－▲107.18▲99.0

Capitalinvestment
Depreciation
costs

15,945－4,700－▲11,245▲70.5

2,458－

3,860－

1,401

57.0

R&D costs

1,629－

1,800－

170

10.5

Assumed exchange rate for FY20/3 forecasts 1USD ＝ ¥110.00 1EUR ＝ ¥125.00 1CNY ＝ ¥16.00
Depreciation costs include depreciation cost of tangible assets and amortization cost of intangible assets.

Rate (%)

15Copyright © 2019 Harmonic Drive Systems Inc.

Factors in year‐on‐year change in non‐consolidated
operating income (FY 2020/3 forecast)
13,798(millions of yen)

Lower SG&A
costs

+1,167Lower fixedmanufacturingcosts, etc.

FY2019/3+636
Lower income▲15,276

10
FY2020/3
forecast

Decreased
marginal profit
ratio, etc.

▲315

16

Copyright © 2019 Harmonic Drive Systems Inc.

Sales trend line (non‐consolidated)(millions of yen)

49,24950,000Four‐year average
34,680mil. yen

38,98240,00024,02030,00020,00023,74011,892

26,74721,04822,00013,904
11,500

2nd half

10,500

1st half

25,22910,00011,848

12,843

FY16/3

FY17/3

17,9340

1st half

FY18/3FY19/3

2nd half

FY20/3 forecast
17Copyright © 2019 Harmonic Drive Systems Inc.