Yonex’ sales declined by 8 percent to ¥13.6 billion (€106.3m-$130.4m) for the third fiscal quarter ended Dec. 31. In North America, revenues dropped by 8 percent, despite higher tennis sales after Naomi Osaka won the U.S. Open using a Yonex racquet. In Japan, revenues fell by 7 percent due to the closure of sports clubs because of the pandemic. In Rest of Asia, they dipped by 10 percent. However, European sales inched up by 1 percent. Overall, the gross margin improved by 1.4 percentage points to 40.2 percent. Despite the declines, Yonex booked net income of ¥363 million (€2.8m-$3.5m) for the quarter, against a loss of ¥108 million for the year-ago period, as the gross margin rose by 1.4 percentage points to 40.2 percent and operating expenses were cut by 12 percent. Yonex is expecting revenues for the full financial year to reach ¥51.0 billion (€398.7m-€483.7m), generating net income of ¥400 million (€3.1m-$3.8m).