Mizuno Corp reported sales in its first half inched up 0.2% to ¥76.4 billion ($832 mm) from ¥76.2 billion in the year-ago six months. Net income vaulted 91.3% to ¥1.8 billion ($19.6 mm) from ¥973.0 million.


Operating profit vaulted 80.9% to ¥4.1 billion ($44.7 mm) from ¥2.3 billion.


Mizuno said in a statement that it achieved the highest gross profit margin ratio in the first half results since the FY2000, partly due to a reduction of purchase costs due to strong yen.  Also helping the performance was a recovery of the golf business globally and a higher sales of running shoes.


In its domestic Japan market, sales slid 2.2% to ¥55.47 billion ($604.6 mm) from ¥56.7 billion. Footwear and golf grew in Japan but apparel decreased due to brand restructuring.


In Europe, sales rose 5.8%% to ¥5.7 billion ($62.1 mm) from ¥5.34 billion with gains across all categories. In Americas, revenue grew 15% to ¥11.21 billion ($122.2 million) from ¥9.75 billion, also with strength across all categories. On a currency-neutral basis, sales increased by 118.1% in Europe and 119.1% in Americas.


In Asia/Australia, sales dipped 8.5% to ¥4.02 billion ($42.8 mm) from ¥4.4 billion due to consolidations of shops.


In baseball, sales inched up 0.7% to ¥20.6 billion ($224.5 mm) from ¥20.4 billion.


Footwear sales rose 9.8% to ¥15.8 billion ($172.2 mm) from ¥14.4 billion. Apparel sales slid 8.8% to ¥13.7 billion ($143.9 mm) from ¥15.1 billion. Mizuno said the number of sports shoes, mainly running shoes, increased in every area.  In the Americas, sales of footwear and apparel increased by 131%.


Golf sales expanded 3.2% to ¥12.2 billion ($132.99 mm) from ¥11.8 billion. – Golf business, which was one of business challenges, is under a recovery trend and its global sales increased by 103% in total.  Particularly in Europe and Americas, double digit increase by 118% and 111% respectively on currency neutral basis.  Custom Fitting Club business on the both area remained at strong level.


Revenues in its Others category – tennis, training, martial arts, sports facilities – were ¥14.05 billion ($153.1 million), about even with ¥14.5 billion a year ago.


Mizuno also revised its outlook for the year. It now expect net profit to increase by 25% to ¥2billion over the same period of the last year.  Sales to be revised to decrease by ¥3 billion from the previous forecast due to posting an exchange-rate loss.