Descente has reported revenues of 142.443 billion yen (€1.2bn-$1.3bn) for the fiscal year ended March 2019, representing a record high and an increase of 0.9 percent on an annualized basis. Meanwhile, profit was down by 12.8 percent to 8.458 billion yen (€73.3m-$81.8m). The decline in the net profit was attributed to non-fulfillment of sales plans in Japan and South Korea, investments ahead of the so-called “Golden Sports Years” in Japan, from 2019 through 2021, and impairment of the total book value of intangible fixed assets including the goodwill of inov-8 brand. To date, despite expectations across society at large related to the series of sports mega-events that Japan will host between 2019 and 2021, there has been no evidence of any increase in active customer purchasing of sporting goods, and real demand has not grown to meet expectations, the company said. However, demand is likely to increase as consumers will actually start seeing Japanese athletes in action through next year, the company added.