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Company Research Report: Wacom Co., Ltd. (6727)
Wacom Research Memo (8): The "Technology Solutions Business" has been driving the growth of performance in recent years.
Looking at the revenue trends of Wacom <6727> up until March 2020, before the COVID-19 pandemic, it is evident that there was a significant drop in the fiscal year of March 2017, due to a strong yen, excessive internal IT infrastructure investments, and the impact of transitioning product cycles. Although there has been a recovery alongside the growth of the "Technology Solutions Business", the "Brand Products Business" has continued to trend downward, with the losses in the "Brand Products Business" offset by the "Technology" business.
Wacom Research Memo (7): Evolving into a phase of commercialization and market implementation of technological development that will become the next generation growth engine.
■ Wacom <6727>'s next medium-term management policy (Wacom Chapter 4) Direction 1. Overview (Summary) The company presented the direction of its next medium-term management policy (Wacom Chapter 4), which will start from the fiscal year ending March 2026, in May 2024 (the final proposal is scheduled to be announced in May 2025). The business opportunities related to digital pens include not only digital content production and creation but also sustainable growth in mainland education DX, Edtech, workflow DX, etc.
Wacom Research Memo (6): Promoting structural reform towards the next mid-term management policy Wacom Chapter 4.
The company has been promoting initiatives in line with the four-year medium-term management plan "Wacom Chapter 3" (fiscal year ending March 2022 to fiscal year ending March 2025).
Wacom Research Memo (5): The performance financial estimates for the fiscal year ending March 2025 have been maintained, with expectations of increased revenue and profit.
■ Wacom <6727> performance outlook 1. Performance forecast for the fiscal year ending March 2025 Regarding the consolidated performance financial estimates for the fiscal year ending March 2025, the company has left the initial estimates unchanged, expecting revenue to increase by 1.0% to 120,000 million yen, operating profit to rise by 20.4% to 8,500 million yen, ordinary profit to decrease by 13.7% to 8,500 million yen, and net income attributable to shareholders to increase by 35.9% to 6,200 million yen, anticipating an increase in revenue and profit (excluding ordinary profit). The revenue is based on the initial assumptions.
Wacom Research Memo (4): The first half of the fiscal year ending in March 2025 will see increased revenue and operating profit due to the effects of a weak yen and increased OEM demand.
For the first half of the consolidated financial results for the fiscal year ending March 2025, revenue increased by 3.1% year-on-year to 57,315 million yen, operating profit increased by 122.9% to 5,475 million yen, ordinary profit decreased by 4.1% to 4,785 million yen, and net profit attributable to the parent company's shareholders decreased by 8.8% to 3,470 million yen, showing an increase in revenue and a significant increase in operating profit.
