Performance Forecast
For Fiscal YearEnding March 31, 2020

12
Copyright © 2019 Harmonic Drive Systems Inc.

Revised consolidated results forecast for
fiscal year ending March 31, 2020
(millions of yen)
Original forecasts(announced May 10)

Net sales

Revised forecasts(announced Nov. 12)

Vs. original forecasts

AmountPercent (%)

AmountPercent (%)

42,000100.0

36,700100.0

ChangeRate (%)▲5,300 ▲12.6

Operatingincome
Ordinary
income1,0002.4▲1,500－▲2,500－1,0002.4▲1,300－▲2,300－Net income500.1▲1,500－▲1,550－EPS （yen）

0.52－▲15.58－▲16.10－※ Assumed exchange rate for FY20/3 forecasts 1USD ＝ ¥105.00 1EUR ＝ ¥118.00※ Net income refers to net income attributable to owners of parent.

1CNY ＝ ¥15.00

13Copyright © 2019 Harmonic Drive Systems Inc.

Revised non-consolidated results forecast for
fiscal year ending March 31, 2020
(millions of yen)
Original forecasts(announced May 10)

Net sales

Revised forecasts(announced Nov. 12)

Vs. original forecasts

AmountPercent (%)

AmountPercent (%)

22,000100.0

18,000100.0

ChangeRate (%)▲4,000 ▲18.2OperatingincomeOrdinary
income100.0▲1,000－▲1,010－1500.7

▲700－

▲850－

Net income

1000.5

▲500－

▲600－

EPS （yen）

1.04－▲5.19－▲6.23－※Assumed exchange rate for FY20/3 forecasts 1USD ＝ ¥105.00

1EUR ＝ ¥118.00

1CNY ＝ ¥15.00

14Copyright © 2019 Harmonic Drive Systems Inc.

Consolidated performance forecast for
fiscal year ending March 31, 2020
FY ended Mar. 31, 2019

Forecasts
FY ending Mar. 31, 2020

(millions of yen)

Year-on-year change

AmountPercent (%)

AmountPercent (%)

ChangeRate (%)

67,809100.036,700100.0▲31,109▲45.9

16,90324.9▲1,500－▲18,403－

17,46425.8▲1,300－▲18,764－

Net income

11,60117.1▲1,500－▲13,101－

EPS （yen）

120.52－▲16.10－▲136.10－23,876－7,800－▲16,076▲67.3

6,247－

7,200－

952

15.3

2,476－

2,300－▲176▲7.1

Net sales
OperatingincomeOrdinary
incomeCapitalinvestment
Depreciation
costs
R&D costs※ Net income refers to net income attributable to owners of parent.
※ Assumed exchange rate for FY ending Mar.31, 2020 forecasts 1US$ = ¥105.00 1€ = ¥118.00 1CNY=¥15.00※ Depreciation costs include depreciation cost of tangible assets and amortization cost of intangible assets and goodwill.

15Copyright © 2019 Harmonic Drive Systems Inc.

Forecasts of main group companies forfiscal year ending March 31, 2020

*2*5

*3
*4
*6

Net sales(millions of yen)

Net income

Equitystake

AmountYear-on-yearchange (%)

AmountHarmonic DriveSystems Inc.

－18,000▲63.5▲500 ▲104.8

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

100%
（51%）

6,100

▲11.0

410

Harmonic AD, Inc.

100%

1,600

▲52.5

▲40 ▲111.0Harmonic Drive Systems(Shanghai) Co., Ltd.

100%

3,600

▲11.1200

2.6

Harmonic Drive AG(Germany)

74.7%

12,700▲20.4680▲70.8

Year-on-yearchange (%)▲17.0

Percent change(%) indicates increase or decrease from same period of previous fiscal year.
*1 For overseas subsidiaries and affiliates, the fiscal year ends December 31.
*2 Exchange rates: Jan. – Dec., 2018 1USD = 110.43 yen, Jan. – Dec., 2019 forecast 1USD = 105.00 yen*3 Exchange rates: Jan. – Dec., 2018 1CHY = 16.72 yen, Jan. – Dec., 2019 forecast 1CYN = 15.00 yen*4 Exchange rates: Jan. – Dec., 2018 1EUR = 130.42 yen, Jan. – Dec., 2019 forecast 1EUR = 118.00 yen*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.

16

Copyright © 2019 Harmonic Drive Systems Inc.

Non-consolidated bookings by application (quarterly)(millions of yen)

10,000

9,546
1,712
166
641
553

6,183
1,407

5,000

4,548

203
385
443

2,793

2,839

999

960

624

124

502

598
70869772Q

3Q

4Q

2,638
335

0

1,126
1Q

4,102

161

1,078
46
259
409

1,373

FY ended Mar. 31, 2019

Semiconductor equipment
Gearbox for motor manufactures
Optical devices
Excavation systems for the oil, etc.

Flat panel equipment
Machine tools
Transporter
Others

45232
227

372

3,092
794
59
206
195

76
191
187

1,170

192

325

1Q

2Q

85

FY ending Mar. 31, 2020
Robotics
Printing machines
Measuring machines

17 17

Copyright © 2019 Harmonic Drive Systems Inc.

Non-Consolidated performance forecast for
fiscal year ending March 31, 2020
FY2019/3

FY2020/3 forecasts(millions of yen)

Year-on-year change

AmountPercent (%)

AmountPercent (%)

ChangeRate (%)

Net sales

49,249100.0

18,000100.0▲31,249▲63.5

Operatingincome13,79828.0▲1,000－▲14,798－

Ordinary
income14,213

28.9

▲700－

▲14,913－

Net
income10,413

21.1

▲500－

▲10,913－

EPS (yen)108.18－▲5.19－▲113.37－

Capitalinvestment
Depreciation
costs

15,945－4,200－▲11,745▲73.7

2,458－

3,300－

841

34.2

R&D costs

1,629－

1,700－

704.3※ Assumed exchange rate for FY20/3 forecasts 1USD ＝ ¥105.00

1EUR ＝ ¥118.00

1CNY ＝ ¥15.00

18

Copyright © 2019 Harmonic Drive Systems Inc.

Factors in year-on-year change in non-consolidated
operating income (fiscal year ending March 31, 2020 forecast)Lower income

13,798 ▲17,600(millions of yen)

Lower SG&A
costs

＋1,400Lower fixedmanufacturingcosts, etc.

FY ended Mar. 31,
2019

Lower
＋1,700marginal profit
ratio, etc.

▲298

▲1,000FY ending Mar. 31,2020 forecast
19
Copyright © 2019 Harmonic Drive Systems Inc.

Sales trend line (non-consolidated)
Four-year average
34,680 mil. yen(millions of yen)

50,00038,98240,00030,00020,00023,74011,892

26,74749,24924,02021,04818,00013,90425,22910,00011,848

12,843

FY ending Mar.
31,2016

FY ending Mar.
31,2017

7,473

17,934
10,5270

1st-half

FY ending Mar.
31,2018

FY ending Mar.
31,2019

2nd-half

FY ending Mar.
31,2020

forecast

20

Copyright © 2019 Harmonic Drive Systems Inc.