Mizuno Corp. reported sales grew 7.8 percent in the first quarter ended March 31, driven by growth in the golf business. Sales reached ¥46.2 billion, up from ¥42.9 billion a year ago.
Beyond the strength in golf, the gain reflected a recovery in indoor sports categories after being negatively impacted by COVID-19. Mizuno also benefited from a favorable business climate in Japan compared to the year-ago quarter.
Operating profit improved 16.8 percent to ¥3.8 billion from ¥3.2 billion a year ago, marking a record operating profit for the first quarter. The improvement reflects the higher sales and gross profit, and cost reduction measures adopted over the past year enhanced business efficiency.
Ordinary profit reached ¥4.5 billion against ¥3.5 billion, representing a gain of 29.8 percent. Net income grew 27.6 percent to ¥3.5 billion from 2.7 billion.
By region, sales rose 8.8 percent to ¥29.7 billion from ¥27.3 billion, gained 12.7 percent to ¥7.1 billion from ¥6.3 billion in the Americas and grew 19.0 percent to ¥5.0 billion from ¥4.2 billion in Asia/Oceania. Sales to the EMEA region were down 12.0 percent to ¥4.4 billion from ¥5.0 billion.
By category, Footwear sales inched up 0.8 percent to ¥12.3 billion from ¥12.2 billion, Apparel sales gained 3.1 percent to ¥13.2 billion from ¥12.8 billion, Equipment sales advanced 19.0 percent to ¥13.8 billion from ¥11.6 billion, and Service/Others sales improved to ¥6.9 billion from ¥6.2 billion.
Photo courtesy Mizuno/Luke Donald/Today Sports