YASKAWA Electric reports record sales and prepares for late 2024 trends

YASKAWA Electric held a press conference on April 5 at its headquarters in Kitakyushu, Japan, to announce its financial results for the fiscal year ending February 2024 (March 2023-February 2024). 

Using International Financial Reporting Standards (IFRS), the company’s net sales increased 3.5% year-on-year (YoY) to 575,658 million yen, operating income decreased 3.0% YoY to 66,225 million yen, and net income attributable to owners of the parent decreased 2.1% YoY to 50,687 million yen. The return to normal production enabled the company to clear its order backlog and sales reached a record high, but changes in the pension plan and the sale of unused real estate led to a decline in profit. 

President Masahiro Ogawa commented, “Sales have reached a record high, but I feel we could have achieved more growth. One of the reasons was the robotics business, which was affected by an increase in overhead costs, and production did not go as planned in some areas”. 

In the robotics business, sales rose 4.8% YoY to 234,680 million yen, and operating income fell 3.7% YoY to 25,149 million yen. The company’s priority action projects for FY2024 include expanding sales of “MOTOMAN NEXT,” which was launched last year. 

For the fiscal year ending February 2025, the company forecasts an increase in net sales of 0.8% YoY to 580,000 million yen, an increase in operating income of 5.7% YoY to 70,000 million yen, and an increase in net income attributable to owners of the parent company of 6.5% YoY to 54,000 million yen. President Ogawa was enthusiastic, saying, “Demand for automation is solid, and semiconductor-related demand may accelerate rapidly in the future; we expect the economy to recover from the second half of 2024 to 2025, and we intend to prepare well while staying ahead of the curve in controlling production”.