【2024年12月17日】ワコム<6727>レポート要約

今回は、2024年12月17日に掲載されたワコム<6727>のレポートを要約しました。

元レポートは下記の通りです。
ワコム<6727>レポートPDF
出典元：FISCO

それでは早速見ていきましょう。

Wacom Co., Ltd.: A Comprehensive Analysis of Business Performance and Future Prospects

Introduction

Wacom Co., Ltd. is a global leader in the digital pen and ink industry, renowned for its innovative products and technology solutions. This report delves into the company’s recent financial performance, business strategies, and future outlook to provide investors and stakeholders with valuable insights.

Company Overview and Business Segments

Wacom Co., Ltd. operates in two main business segments: the Branded Business and the Technology Solution Business. The Branded Business focuses on displays and pen tablets for professional creators, while the Technology Solution Business supplies digital pen technology to manufacturers. With a strong presence in over 150 countries, Wacom is committed to creating value for its customers through cutting-edge technology.

Financial Performance and Highlights

In the first half of FY3/25, Wacom Co., Ltd. reported higher sales and operating profit, primarily driven by the growth in the Technology Solution Business. While total assets and shareholders’ equity experienced declines, the company saw a significant increase in operating profit. Investments in R&D continue to be a priority as Wacom aims to establish a robust earnings base for future growth.

Results Overview by Business Segment

The Branded Business experienced a decrease in net sales but narrowed its segment loss through a focus on structural transformation and new product releases. In contrast, the Technology Solution Business saw an increase in net sales and segment profit, driven by strong demand from OEM partners in EMR technology solutions.

Key Takeaways and Outlook

Key takeaways from the 1H FY3/25 results include positive growth in the Technology Solution Business, a delay in the recovery of the Branded Business, and an unchanged forecast for FY3/25 with expected increases in sales and profits. Looking ahead, Wacom aims for the Branded Business to return to profitability in FY3/26 while expecting flat sales YoY in the Technology Solution Business.

Structural Transformation and Future Business Direction

Wacom is focusing on the structural transformation of the Branded Business, with plans to optimize operational expenses and introduce new use cases like “Portable Creative.” The company aims for a cost reduction of ¥2.0bn during FY3/25 and emphasizes gross profit improvement and growth foundation construction for the future.

Preliminary Guidance for Next Medium-Term Business Direction

Wacom presented preliminary guidance for its next medium-term business direction, highlighting a focus on commercializing next-generation growth-engine technology developments in Education DX Edtech and Workflow DX. The company aims for net sales of around ¥150.0bn and an operating profit margin of around 10% for FY3/29, with a focus on technology innovation and community engagement.

Financial and Operational Trends, Initiatives for Society, and Shareholder Returns

Wacom’s financial standing, sales trends, operating profit margin, and initiatives for society, including the “Lifelong Ink” concept and environmental initiatives, were discussed. The company’s commitment to shareholder returns through dividend forecasts and EPS trends, alongside its history and business profile, solidify its position as a key player in the digital pen and ink industry.

This comprehensive analysis showcases Wacom Co., Ltd.’s resilience, innovation, and strategic vision for the future, positioning the company for continued growth and success in the digital technology market.