In what Yonex Company, Ltd called a strong global sports market, the company said it focused on communication and marketing activities leveraging the achievements of Team Yonex athletes, while strengthening initiatives that emphasize customer touch points, including pop-up stores and other events.

Net sales amounted to ¥120.4 billion for the nine-month (YTD) period ended December 31, representing an 18.4 percent year-over-year (y/y) increase versus the prior-year YTD period. The increase came despite negative translation effects of the stronger yen on overseas operations.

Operating profit reached ¥12.9 billion, a 13.5 percent y/y increase. SGA expenses increased, mainly due to higher advertising and promotional expenses and personnel costs associated with strengthened marketing activities. However, the increase in gross profit driven by higher sales offset the rise in SGA expenses, resulting in record-high consolidated operating profit for the cumulative Q1–Q3 period.

Net profit attributable to owners of parent increased 3.9 percent y/y to ¥9.6 billion.

Fiscal 2026 Nine-Month YTD Results

Segment YTD Performance

Japan Segment sales were up 10.4 percent y/y to ¥46,153 million. Yonex said Badminton demand remained solid, with increased sales of racquets across a wide range of price points, while sales of other products, including bags and apparel, also remained steady, contributing to higher sales.

Tennis sales increased, said to be supported by steady demand across various product categories, including shoes and strings.

For Overseas Distributors Badminton demand remained solid in Asia, while sales in Europe also remained steady, supported by increased participation in sporting activities, resulting in higher sales. Tennis sales increased, supported by marketing activities leveraging the achievements of Team Yonex athletes

Japan segment operating income jumped 21.9 percent y/y to ¥2,710 million. Gross profit increased due to higher sales. Although SGA expenses rose mainly due to higher personnel expenses and increased global advertising expenses, the increase in gross profit exceeded the rise in SGA expenses, resulting in higher operating profit.

Asia Segment sales increased 25.7 percent to ¥63,478 million. Yonex said the Badminton market remained solid in China, with continued grassroots promotional activities and enhanced “Head to Toe” proposals. Sales increased across a wide range of badminton products, while sales of apparel and bags also grew. Sales increased in Tennis, supported by marketing initiatives leveraging the adoption of Yonex balls as official balls at international tournaments.

In Taiwan, higher sales of badminton products were driven by the achievements of Team Yonex athletes at international tournaments as interest in the sport remained strong.

Asia segment operating profits grew 14.0 percent to ¥9,066million. Gross profit increased due to higher sales. Despite higher advertising expenses mainly at the China subsidiary, the increase in gross profit exceeded the rise in expenses, resulting in higher operating profit.

North America Segment sales increased 19.8 percent to ¥5,804 million. Yonex said sales in Tennis remained steady, led by racquets and strings. In Badminton, sales of racquets and strings increased, supported by continued sporting activities. In addition, sales of other products, mainly apparel, grew significantly. As part of DTC initiatives, Yonex said it focused on strengthening direct customer engagement through its e-commerce site and pop-up store operations.

Operating profit in North America declined 28.6 percent to ¥419 million. Gross profit increased due to higher sales. However, operating profit decreased, mainly reflecting higher personnel expenses, increased marketing expenses, and higher DTC-related costs.

Europe Segment sales increased 10.9 percent to ¥4,544 million. Brand recognition improved in Europe, supported by the achievements of Team Yonex athletes, leading to increased sales of tennis products, mainly racquets. In Badminton, demand remained solid amid continued interest in the sport driven by international tournaments, and sales of racquets and strings increased.

Operating earnings improved 4.3 percent to ¥421 million in the YTD period. An increase in gross profit driven by higher sales exceeded the rise in SGA expenses, mainly reflecting personnel expenses and advertising expenses associated with marketing activities, resulting in higher operating profit.

Consolidated YTD Net Sales by Sports Categories
Badminton sales increased both domestically and overseas amid continued sports market activity. Tennis sales also rose domestically and overseas, supported by improved brand recognition driven by the achievements of Team Yonex athletes. In the Others categories, sales increased mainly in China, led by apparel and accessories.


Fiscal 2026 Full-Year Forecasts
Yonex is maintaining its revised earnings forecasts announced in November 2025. With the sports market expected to remain solid, the company said it will increase investment aimed at expanding the Yonex fan base.

Image, data and charts courtesy Yonex