Mizuno Corp. reported that total fiscal year revenue rose 3.3 percent to ¥155.0 billion ($1.44 bn) and rose 3.6 percent to ¥40.1 billion ($506 mm) in the fiscal fourth quarter ended March 31. Sales of the footwear business, including running shoes and apparel, were said to be strong, contributing to a sales increase in each region on a currency-neutral basis.
Full fiscal year operating profit jumped 19.6 percent to ¥5.5 billion ($69 mm) and net income was up 10.7 percent to ¥3.1 billion ($39 mm) for the period ended March 31.
In the Americas, led by running shoes, sales of all business units
(running, diamond, golf, and volleyball products) continued to be
favorable, with overall sales growth of 11.0 percent on a
currency-neutral basis for the fiscal year ended March 31.
The Running division reportedly led the way in the Americas region with
the largest increase in sales, which were up 19.0 percent from the
previous year on a currency-neutral basis.
In Golf, Americas revenue was up 8.0 percent from the previous year on a
currency-neutral basis as the JPX Game Improvement iron series was
introduced to the U.S. market, along with the new Performance Fitting
software for Mizuno’s Custom Fitting experience. As a result, Mizuno’s
iron market share in the Americas grew more than 11 percent.
In Europe, which continues to grapple with an escalating sovereign debt crisis, posted a 4.0 percent increase on a currency-neutral basis, which the company said was achieved through efforts to raise demand for footwear. In addition to running shoes, sales of indoor shoes, including shoes for handball remained solid. Sponsorships of not only marathons but also half marathons and other road races were sought to improve brand recognition of Mizuno. In golf, the market for which is shrinking, promotions featuring Mizuno’s contracted golfers, who are performing well, and sales of Custom Fitting both did well.
In Japan, given demand associated with the recovery from the Great East Japan Earthquake, a sales increase was achieved for the first time since fiscal 2007, with sales up 4.0 percent. Running shoes drove the overall footwear business. High-performance footwear for other sports, such as soccer and volleyball, also earned high marks with customers, with the result that total revenue climbed 7.0 percent from the previous year. In golf, the healthy performance of Custom Fitting supported the recovery from the decline in the first half, helping sales reach the level of the previous year
Forecast for Fiscal 2012
Revenue forecast at ¥160 billion, up 3.2 percent, with ordinary profit at ¥6 billion, up 6.0 percent, compared with the previous year.
