Harmonic Drive Systems' Losses Narrow in Fiscal Nine Months; Shares Jump 9%

MT Newswires Live

Feb 19, 2025

Harmonic Drive Systems (TYO:6324) reports net loss of 354 million yen for the nine months ended Dec. 31, 2024, narrowing from the net loss of 402 million yen a year ago.

The manufacturer of precision servo actuators' loss per share was 3.73 yen compared with 4.23 yen a year ago, according to a Tokyo Stock Exchange filing on Feb. 7.

Sales revenue declined 3.7% to 40.36 billion yen from 41.93 billion yen a year earlier.

Harmonic Drive Systems forecasted an attributable profit of 3.6 billion yen or 37.90 yen per share for the fiscal year ending March 2025, with net sales expected to fall 3.2% to 54 billion yen.

The company maintained its forecast for an annual dividend of 20 yen per share, comprising an interim and year-end dividend of 10 yen each.

Harmonic Drive Systems' shares gained nearly 9% in late-morning trade Wednesday.

Price (JPY): $4790.00, Change: $+380, Percent Change: +8.62%

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