Mizuno’s operating income increased by 20 percent to ¥11,151 million (€67.9m) from ¥9,294 million for the six months ended Sep. 30. Profit attributable to the parent rose by 4.1 percent to ¥8,097 million (€49.3m). Six-month revenues grew by 4.5 percent by ¥119,613 million (728.3m) from ¥114,506 million.
With the results, Mizuno maintained its annual outlook that calls for 10 percent operating profit growth to ¥19,000 million (€115.7m) and total revenue expansion of 8.8 percent to ¥250,000 (€1.52b). The annual net profit forecast calls for a 4.8 percent year-over-year increase to ¥15,000 million (€91.3m).
| Mizuno - Income | |||
|---|---|---|---|
| Six months ended Sept. 30 (￥ million) | |||
| 2024 | 2023 | Change | |
| Net sales | 119,613 | 114,506 | 4.5% |
| Cost of sales | 70,222 | 69,100 | 1.6% |
| Gross profit | 49,391 | 45,406 | 8.8% |
| SG&A expenses | 38,239 | 36,112 | 5.9% |
| Operating profit | 11,151 | 9,294 | 20.0% |
| Non-operating income | 392 | 1,525 | -74.3% |
| Non-operating expenses | 235 | 267 | -12.0% |
| Ordinary profit | 11,308 | 10,552 | 7.2% |
| Extraordinary income | 43 | 671 | -93.6% |
| Extraordinary losses | 11 | 37 | -70.3% |
| Pre-tax | 11,340 | 11,187 | 1.4% |
| Tax | 3,129 | 3,345 | -6.5% |
| Profit | 8,210 | 7,841 | 4.7% |
| Source: Mizuno | |||
H1 regional results
In Europe, operating income improved to ¥635 million (€3.9m) despite a 6.1 percent drop in year-over-year revenues to ¥12,344 million (€75.2m). Soccer boots and lifestyle footwear sales stepped higher, and the company reported improved gross margins on running shoes.
In The Americas, H1 operating income increased by 50 percent to ¥2,335 million (€14.2m) as sales expanded by 8.8 percent to ¥20,466 million (€124.6m). Sales of performance sports products rose despite the pressures of higher interest rates and inflation. Gross margin improved on a more normalized inventory level.
Home market Japan realized a 6.2 percent year-over-year gain in operating income to ¥5,852 million (€36.2m) as revenues grew by 3.1 percent to ¥70,292 million (€428.0m). Sales of soccer, volleyball, and racket sports products remained strong along with items for work. Lifestyle sales also increased.
In Asia/Oceania, H1 segment income lifted 50 percent higher to ¥2,228 million (€13.9m) on 14.8 percent sales growth to ¥16,509 million (€100.5m). South Korea and Southeast Asia revenues expanded with product sales gains for racket sports, volleyball, and lifestyle footwear.
