Roland <7944> announced its consolidated financial results for the third quarter of the fiscal year ending December 2024 (January-September 24). Revenue decreased by 2.5% year-on-year to 69.611 billion yen, operating profit decreased by 16.3% to 6.482 billion yen, ordinary profit decreased by 25.4% to 5.322 billion yen, and quarterly net income attributable to the parent company's shareholders decreased by 25.6% to 4.288 billion yen.

Revenue from keyboard instruments amounted to 18.649 billion yen (an increase of 1.4% year-on-year). Despite a significant decrease in demand in China for electronic pianos, impacted by high prices and dealer inventory adjustments, newly launched products this fiscal year performed well. Portable keyboards also showed strong performance due to the introduction of new products.

Revenue from percussion instruments totaled 20.25 billion yen (a decrease of 1.8%). Drums saw a stabilization in demand for sampling pads, despite the impact of dealer inventory adjustments. Drum set sales faced challenges due to competition but introduced a large new product in early October to enhance competitiveness. Electronic wind instruments struggled in the mid-low price range due to increased competition.

Revenue from guitar-related equipment amounted to 17.227 billion yen (a decrease of 4.9%). Compact guitar effectors showed steady demand, while loopers and multi-effectors experienced a stabilization in demand. Sales of musical instrument amps were strong for new product releases, but overall, other product lines showed soft performance.

Revenue from creative equipment & services reached 8.853 billion yen (a decrease of 1.6%). Synthesizers saw a stabilization in demand for high-end products and stage pianos with 88 keys. In the dance & DJ product category, new product releases contributed positively, but existing product demand was soft. In the software/services sector, through Roland Cloud, continuous provision of content and services to enhance user Lifetime Value (LTV) led to a growth in memberships.

Revenue from audio-visual equipment totaled 2.349 billion yen (a decrease of 23.8%). Video-related products faced challenges due to the significant impact of new product releases and reduced backlog shipments from the same period last year, despite recovery in event demand post-COVID.

Regarding the full-year performance forecast for the fiscal year ending December 2024, adjustments were made to the forecast on the same day. Revenue is expected to decrease by 2.5% from the previous year to 99.9 billion yen (unchanged from the previous forecast), operating profit to decrease by 15.8% to 10 billion yen (compared to the previous forecast of 12.3% decrease), ordinary profit to decrease by 22.0% to 8.7 billion yen (previously 23.0% decrease), and quarterly net income attributable to the parent company's shareholders to decrease by 17.8% to 6.7 billion yen (previously 21.2% decrease). The year-end dividend forecast remains unchanged at 85 yen per share.