Yonex Company Ltd. reported sales of ¥36.69 billion ($429 mm) for the fiscal year ended March 31, down 0.5 percent from ¥36.87 billion ($397 mm) in the prior fiscal year. The Tokyo-based maker of golf, racquet and snow sports gear reported operating income reached ¥1.24 billion ($15 mm), down 24.1 percent from ¥1.64 billion ($18 mm) in the prior year.
Operating margins fell to 2.0% from 4.5% a year earlier. Net income fell 26.5 percent to ¥718 million ($8.4 mm) from ¥977 million ($10.5 mm) in
the prior year.
Gross margins came in at 41.6 percent of sales in the most recent year, while SG&A finished the year at 34.8 percent of sales.
