YASKAWA Electric: revenue and operating profit decline in first-half FY2020

October 22, 2020

COVID-19 slows global capital investment, but recovery seen in China

On October 9, 2020, YASKAWA Electric announced its interim financial results for the fiscal year ending February 2021 at its headquarters in Kitakyushu City, Fukuoka Prefecture.

In the first half of the fiscal year, revenue decreased 11.8% year-on-year to 186,846 million yen, while operating profit fell 8.3% to 13,294 million yen.

At the press conference, President Hiroshi Ogasawara commented,

“The global spread of COVID-19 forced many companies to hold back on capital investment, creating a tough environment. However, production activities quickly normalized in China. There is aggressive investment in 5G infrastructure, and the automobile market is recovering in China as well.”

Robotics business hit hardest by pandemic

YASKAWA’s robotics business was particularly impacted by the pandemic. Revenue in this segment declined 18.9% year-on-year to 65,396 million yen, and operating profit dropped 36.7% to 2,486 million yen.

Despite the decline, President Ogasawara expressed cautious optimism: