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Home/Stocks/6324.T
TSE · Japan · Specialty Industrial Machinery

6324.T Harmonic Drive Systems

Strain-wave gears for robot joints

Tight but sold off Its supply chain is tightening but the stock is below its 50-day average — price and fundamentals disagree. (automatic: supply-chain trend + price vs 50-day average)
Last close (delayed) · 2026-10-26
¥5,090.0
+3.98% today
1W
−4.0%
1M
−19.7%
3M
−25.9%
YTD
+35.2%
1Y
+54.9%
Off 52w high
−42.7%
Next earnings (est.): 2026-11-11
Market cap¥463B≈ $2.96B
P/E (trailing)289.6Forward 64.7
EV / sales7.3×EV/EBITDA 39.9×
Revenue (TTM)¥62.74BGrowth 23.6% y/y
Margins32.2%gross · op 11.0%
Free cash flow—Cash ¥22.16B · debt ¥16.89B
Analyst target¥7,597.0+49.3% upside · 10 analysts · buy
Riskβ 0.96Short — of float · yield 0.41%

Fundamentals from public market data, refreshed daily (2026-10-24 02:59 UTC). Figures in reporting currency.

6324.T · price with what management and the data said

Supply tighteningBeat / raiseMiss / cutData releaseEasing Hover a numbered marker for details · dashed lines = 50- and 200-day averages

Timeline: management commentary, data & earnings

8 events
  1. 8
    2026-08-06EarningsBeat / raise

    Reported EPS 13.46 vs 10.6 expected (+27.0% surprise).

  2. 7
    2026-05-13EarningsBeat / raise

    Reported EPS 8.86 vs 7.7 expected (+15.1% surprise).

  3. 6
    2026-02-10EarningsMiss / cut

    Reported EPS 4.78 vs 5.3 expected (-9.8% surprise).

  4. 5
    2025-11-12EarningsBeat / raise

    Reported EPS 3.75 vs -2.8 expected (+233.9% surprise).

  5. 4
    2025-05-14EarningsMiss / cut

    Reported EPS 40.3 vs 45.8 expected (-12.0% surprise).

  6. 3
    2025-02-06EarningsMiss / cut

    Reported EPS 5.22 vs 8.15 expected (-36.0% surprise).

  7. 2
    2024-11-11EarningsMiss / cut

    Reported EPS -5.97 vs 0.95 expected (-728.4% surprise).

  8. 1
    2024-08-06EarningsMiss / cut

    Reported EPS -2.98 vs -1.6 expected (-86.2% surprise).

Earnings history

EPS vs expectations
DateExpected EPSReported EPSSurprise
2026-08-0610.613.46+27.0%
2026-05-137.78.86+15.1%
2026-02-105.34.78−9.8%
2025-11-12-2.83.75+233.9%
2025-05-1445.840.3−12.0%
2025-02-068.155.22−36.0%
2024-11-110.95-5.97−728.4%
2024-08-06-1.6-2.98−86.2%
2024-05-126.3-256.77−4175.7%
2024-02-08-4.64-7.52−62.0%
2023-11-086.720.85−87.3%
2023-08-079.972.44−75.5%
2023-05-1116.6524.2+45.4%
2023-02-0718.0424.73+37.1%
2022-11-0721.4518.19−15.2%
2022-08-0821.312.55−41.1%
2022-05-1214.7222.56+53.3%
2022-02-0717.2123.41+36.1%
2021-11-1118.7911.4−39.3%
2021-08-0514.5211.65−19.8%
2021-05-1411.434.98−56.4%
2021-02-07-2.070.7+133.8%
2020-11-10-5.4-0.68+87.4%
2020-08-061.51.88+25.8%

About Harmonic Drive Systems

Website ↗

Harmonic Drive Systems Inc. manufacturing and sales of speed reducers and mechatronics products in Japan, China, North America, and Europe. It offers mechatronics products, including rotary and linear actuators, speed reducers, motors, sensors system, servo drivers, optical galvano scanner, and other system elements. The company also provides HarmonicDrive, a precision speed reducer; high-precision planetary speed reducers under the AccuDrive and HarmonicPlanetary brands; and high-performance gear heads for servo motors series under HarmonicGearhead. Its products are used in industrial robots, semiconductor manufacturing equipment, and other systems. Harmonic Drive Systems Inc. was founded in 1970 and is headquartered in Tokyo, Japan.

1,419 employees · Tokyo, Japan

Every robot joint needs a strain-wave or RV reducer. Two Japanese firms dominate; Chinese suppliers are scaling fast.

Alloy→Strain wave / RV→Joint→Robot

What would prove us wrong. Weakens if Chinese reducers win share at much lower prices without quality issues.

Peers at the same bottleneck

Who else supplies this

StockRoleLast1D1MYTDTrend
6268.T
Nabtesco
RV reducers for industrial robots ¥4,140.0+0.53%−13.0%+11.3%
688017.SS
Leaderdrive
Chinese strain-wave reducers ¥293.0+1.03%+0.8%+52.6%

Not investment advice. Prices delayed and in local currency. Quotes in "double quotes" are verbatim as reported by the linked source; other commentary is our paraphrase. Earnings dates are estimates.