Mizuno Corporation reported revenues for the fiscal first half rose 2.2 percent to ϒ78.15 billion ($980 mm) for the six-month period ended Sept. 30. Operating profit was up 5.7 percent to ϒ4.36 billion ($55 mm) and net income jumped 25.1 percent to ϒ2.23 billion ($28 mm).
The company said that sales of footwear and apparel continue to do well. Growth of sales of footwear in every region contributed to an increase of profits.
Sales and administrative expenses increased by 1.2 percent on a year-to-year comparison due to an increase of ad expenses, but footwear and apparel business played a leading role in the increase of operating profit.
On a currency-neutral basis, both sales and profit in every region increased on a year-to-year comparison (Japan +3.0 percent, Americas +10.8 percent, Europe +5.6 percent, Asia/Australia +3.8 percent and consolidated results +4.3 percent). Due to stronger Japanese yen, decline of revenue at an exchange conversion was approx. ϒ1.6 billion on the consolidated financial results.
Revision of the forecast of the consolidated results for the 2011 fiscal year ended March 31, 2012: Forecast of operating income was increased to ϒ5.0 billion by 13 percent and forecast of net income after tax was increased to ϒ2.7 billion by 8 percent. Forecast of sales for the whole financial year is staying in ϒ152 billion.