Harmonic Drive Systems Inc

6324: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Harmonic Drive Systems Earnings: Recovery Intact, but AI Premium Runs Ahead of Fundamentals

Kangyuxiao Li

May 18, 2026

Harmonic Drive Systems returned to growth in fiscal 2025 (ended March 2026), with sales up 7% year on year and operating margin returning to positive territory. March-quarter orders reached a four-year high, and management guidance is for 14% sales growth and 9% operating margin in fiscal 2026.

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Harmonic Drive Systems Inc

Harmonic Drive Systems Earnings: Recovery Intact, but AI Premium Runs Ahead of Fundamentals

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