Globerride, Inc., the owner of the Daiwa fishing brand and the Japan licensee for the Prince racquet sports brand, warned this week that the company expects consolidated net sales for the fiscal year ended March 31, 2025, to be slightly below its previously announced forecasts.
The company said the outdoor, sports, and leisure industry markets in which the company operates hit a plateau due to the diversification of consumption into other leisure activities and the impact of rising prices amid the normalization of economic activity.
Meanwhile, the company expects profit to exceed its previously announced forecast from efforts to improve productivity and reduce expenses and an increase in the year-end valuation of foreign currency receivables. The company has, therefore, revised its full-year consolidated financial results forecast.
Revisions to Full-Year Forecast
Image courtesy Daiwa/OzFish, Data and table courtesy Globeride, Inc.
