Harmonic Drive Systems Management

Management criteria checks 2/4

Harmonic Drive Systems' CEO is Akira Maruyama, appointed in Jun 2024, has a tenure of less than a year. directly owns 0.009% of the company’s shares, worth €95.44K. The average tenure of the management team and the board of directors is 4.4 years and 4.4 years respectively.

Key information

Akira Maruyama

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	less than a year
CEO ownership	0.009%
Management average tenure	4.4yrs
Board average tenure	4.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Akira Maruyama's remuneration changed compared to Harmonic Drive Systems's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-JP¥26b
Jun 30 2024	n/a	n/a	-JP¥25b
Mar 31 2024	n/a	n/a	-JP¥25b
Dec 31 2023	n/a	n/a	JP¥2b
Sep 30 2023	n/a	n/a	JP¥5b
Jun 30 2023	n/a	n/a	JP¥7b
Mar 31 2023	JP¥117m	JP¥30m	JP¥8b

Compensation vs Market: Insufficient data to establish whether Akira's total compensation is reasonable compared to companies of similar size in the German market.

Compensation vs Earnings: Insufficient data to compare Akira's compensation with company performance.

CEO

Akira Maruyama (62 yo)

less than a year

Tenure

JP¥117,381,000

Compensation

Mr. Akira Maruyama has been Senior Managing Executive Officer at Harmonic Drive Systems Inc. since June 2022 and serves as its Chief Executive Officer and President since June 21, 2024 and serves as its Ge...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Akira Nagai	Chairperson	11.4yrs	JP¥253.75m	0.058% € 639.2k
Akira Maruyama	President	less than a year	JP¥117.38m	0.0086% € 95.4k
Kazutoshi Kamijoh	Senior Managing Executive Officer	5.4yrs	no data	0.013% € 141.6k
Yoshihide Kiyosawa	Executive Fellow Officer	no data	no data	no data
Makiko Ono	Executive Officer & Head of Sustainability	less than a year	no data	no data
Tetsuo Ikuta	Executive Officer & GM of Public Relations Office	no data	no data	no data
Naomi Shirasawa	Executive Officer In Charge of Marketing and Sales	no data	no data	0.0075% € 82.9k
Osamu Asakura	Executive Officer	no data	no data	no data
Yoshihiro Tanioka	Executive Officer	9.3yrs	no data	0.0066% € 73.4k
Minoru Asano	Managing Executive Officer & GM of Supply Chain Division	5.8yrs	no data	no data
Shizuka Yata	Chief of Harmonic Drive Laboratory & Executive Officer	1.8yrs	no data	no data

4.4yrs

Average Tenure

66yo

Average Age

Experienced Management: K3R's management team is considered experienced (4.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Akira Nagai	Chairperson	11.4yrs	JP¥253.75m	0.058% € 639.2k
Akira Maruyama	President	8.4yrs	JP¥117.38m	0.0086% € 95.4k
Kazutoshi Kamijoh	Senior Managing Executive Officer	4.4yrs	no data	0.013% € 141.6k
Naomi Shirasawa	Executive Officer In Charge of Marketing and Sales	less than a year	no data	0.0075% € 82.9k
Yoshihiro Tanioka	Executive Officer	3.4yrs	no data	0.0066% € 73.4k
Haruhiko Yoshida	Independent Outside Director	21.4yrs	no data	0.023% € 257.1k
Masanobu Nakamura	Independent Outside Director	11.4yrs	no data	0.014% € 154.3k
Yoshitsugu Yokokoshi	Full-time Member of Audit & Supervisory Board	4.4yrs	no data	no data
Kazuhiko Hayashi	Outside Independent Director	2.4yrs	no data	0.00025% € 2.8k
Hidefumi Iguchi	Member of Audit & Supervisory Board	2.4yrs	no data	0.0058% € 63.9k
Yoshio Fukuda	Independent Outside Director	4.4yrs	no data	0.0013% € 14.8k
Kaeko Kitamoto	Independent Outside Director	1.4yrs	no data	no data

4.4yrs

Average Tenure

68yo

Average Age

Experienced Board: K3R's board of directors are considered experienced (4.4 years average tenure).

Harmonic Drive Systems Management

Management criteria checks 2/4

Key information

Recent management updates

Harmonic Drive Systems Inc., Annual General Meeting, Jun 21, 2024

Harmonic Drive Systems Inc., Annual General Meeting, Jun 21, 2023

Less than half of directors are independent

Harmonic Drive Systems Inc., Annual General Meeting, Jun 22, 2022

Less than half of directors are independent

Recent updates

Harmonic Drive Systems Inc. Provides Consolidated and Non-Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025

Harmonic Drive Systems Inc. Announces Dividend for the Second Quarter-End of Fiscal Year Ending March 31, 2025, Payable on December 5, 2024

Second quarter 2025 earnings released: JP¥5.97 loss per share (vs JP¥0.85 profit in 2Q 2024)

Upcoming dividend of JP¥10.00 per share

Final dividend of JP¥10.00 announced

Full year 2024 earnings released: JP¥261 loss per share (vs JP¥79.66 profit in FY 2023)

Now 25% overvalued after recent price rise

Harmonic Drive Systems Inc. Provides Consolidated and Non-Consolidated Earnings Guidance for the First Half and Fiscal Year Ending March 31, 2025

Now 24% overvalued after recent price rise

Full year 2024 earnings released: JP¥261 loss per share (vs JP¥79.66 profit in FY 2023)

Harmonic Drive Systems Inc., Annual General Meeting, Jun 21, 2024

Upcoming dividend of JP¥10.00 per share

Harmonic Drive Systems Inc. to Report Fiscal Year 2024 Results on May 13, 2024

Now 20% overvalued after recent price rise

Third quarter 2024 earnings released: JP¥7.52 loss per share (vs JP¥24.77 profit in 3Q 2023)

Now 23% undervalued

Harmonic Drive Systems Inc. has filed a Follow-on Equity Offering.

Harmonic Drive Systems Inc. has filed a Follow-on Equity Offering.

Second quarter 2024 earnings released: EPS: JP¥0.85 (vs JP¥18.21 in 2Q 2023)

Upcoming dividend of JP¥3.00 per share at 1.0% yield

First quarter 2024 earnings released: EPS: JP¥2.44 (vs JP¥12.54 in 1Q 2023)

New minor risk - Share price stability

Now 22% undervalued after recent price drop

Investor sentiment improves as stock rises 15%

Harmonic Drive Systems Inc., Annual General Meeting, Jun 21, 2023

Full year 2023 earnings released: EPS: JP¥79.66 (vs JP¥69.01 in FY 2022)

Upcoming dividend of JP¥17.00 per share at 0.6% yield

Third quarter 2023 earnings released: EPS: JP¥24.77 (vs JP¥23.42 in 3Q 2022)

Investor sentiment deteriorated over the past week

Less than half of directors are independent

J.P. Morgan Securities plc and Nomura Securities Co., Ltd. acquired a 9.64% stake in Harmonic Drive Systems Inc. (TSE:6324) from Nabtesco Corporation (TSE:6268) for ¥47.3 billion.

Second quarter 2023 earnings released: EPS: JP¥18.21 (vs JP¥11.40 in 2Q 2022)

Upcoming dividend of JP¥11.00 per share

First quarter 2023 earnings released: EPS: JP¥12.54 (vs JP¥11.65 in 1Q 2022)

Now 21% undervalued after recent price drop

Investor sentiment improved over the past week

Harmonic Drive Systems Inc., Annual General Meeting, Jun 22, 2022

Full year 2022 earnings released: EPS: JP¥69.01 (vs JP¥6.88 in FY 2021)

Harmonic Drive Systems Inc. (TSE:6324) announces an Equity Buyback for 2,000,000 shares, representing 2.08% for ¥5,000 million.

Less than half of directors are independent

Harmonic Drive Systems Inc. to Report Fiscal Year 2022 Results on May 13, 2022

Upcoming dividend of JP¥10.00 per share

Investor sentiment deteriorated over the past week

Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint

Second quarter 2022 earnings released: EPS JP¥11.40 (vs JP¥1.37 loss in 2Q 2021)

Upcoming dividend of JP¥10.00 per share

First quarter 2022 earnings released: EPS JP¥11.65 (vs JP¥1.21 in 1Q 2021)

Full year 2021 earnings released: EPS JP¥6.88 (vs JP¥8.64 loss in FY 2020)

Upcoming dividend of JP¥10.00 per share

New 90-day low: €59.50

Harmonic Drive Systems Inc. to Report Q1, 2022 Results on Aug 06, 2021

Third quarter 2021 earnings released: EPS JP¥0.70 (vs JP¥8.48 loss in 3Q 2020)

Revenue misses expectations

New 90-day high: €68.00

New 90-day high: €62.00

Revenue misses expectations

Second quarter 2021 earnings released: JP¥0.69 loss per share

New 90-day high: €56.00

New 90-day high: €55.00

New 90-day high: €52.50

New 90-day low - €44.60

First quarter earnings released

First quarter earnings released

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age