Sumitomo Rubber’s sports division generated a 40 percent gain in annual operating income to ¥12,482 million (€77.4m) from ¥8.943 million for the 12 months ended Dec. 31. Annual sales rose by 8.6 percent to ¥126,647 million (€785.0m) from ¥116,597 million, bolstered by golf gains in North America and South Korea and the strong launch in December of its 13th generation XXIO club. Dunlop tennis sales, meanwhile, were flat year-over-year because of currency impact in markets outside Japan.
The group’s forecast for the sports segment in 2024 calls for a 12 percent operating profit drop to approximately ¥11,000 million (€68.2m), because of higher interest rates and concerns over higher inflation. Annual sales are forecast to rise 3.8 percent higher to ¥131,500 million (€815.1m), with H1 sales estimated to increase by 9.3 percent to ¥74,500 million (€461.8 million).
