The Japanese group reported a 33.5 percent increase in annual operating profit to ¥17,279 million (€102.7m) and a 44 percent year-over-year gain in profit to ¥14,311 million (€85.1m). Both figures exceeded the company’s guidance for the 12 months ended March 31.
Meanwhile, Mizuno’s annual revenues increased by 8.3 percent to ¥229,711 million (€1.38b) to surpass projections. With the results, the company issued its outlook for the current FY ending March 31, 2025. Annual operating profit is forecast to grow by 10.0 percent to ¥19,000 million (€112.9m) with total sales pegged to increase by 8.8 percent to ¥250,000 million (€1.49b).
In Europe, buoyed by soccer products and lifestyle footwear, the group recorded its highest annual sales at ¥25,566 million (€152.0), which equaled 1.7 percent year-over-year growth. However, higher distribution inventory and procurement costs contributed to a 68 percent drop in operating profit for the FY at ¥528 million (€3.1m).
In the Americas, sales of golf, baseball, and volleyball products rose and contributed to 9.1 percent year-over-year revenue growth to ¥33,886 million (€201.4m). But the region’s annual operating profit tumbled by 17 percent to ¥2,338 million (€13.9m). In Asia/Oceania, the brand experienced growth in South Korea and Southeast Asia with overall annual sales rising by 19 percent to ¥28,845 million (€171.5m). The region’s annual operating profit was flat at ¥2,282 million (€13.6m).
In Mizuno’s home market of Japan, annual revenues grew by 7.5 percent to ¥141,413 million (€840.6m) and year-over-year operating profit soared more than 100 percent to ¥12,037 million (€71.6m).
