A foreign exchange gain of almost two billion yen (€15.1m-$17.6m) allowed Globeride to post net income of ¥2,398 million (€18.2m-$21.2m) in the first half ended Sept. 30, compared with ¥745 million in the year-ago period. Revenues advanced by 6.3 percent to ¥44.9 billion (€339.9m-$396.2m), but the gross margin declined by 1.4 percentage points to 36.5 percent. The company, which owns the Daiwa brand of fishing tackle and distributes Prince in Japan, sees a stable domestic economy with individual consumption trending upward, but the slower growth in China and other Asian countries makes it cautious about future prospects.

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