Mizuno, citing a steady recovery in its soccer, baseball and racquet shoe businesses, growth in golf and positive change in Japan’s business climate, reported an 81 percent increase in second-quarter net income to ¥2.9 billion (€20.9m) from ¥1.6 billion for the second quarter ended Sept. 30. Operating profit rose by 79 percent to ¥4.3 billion (€31.0m) from ¥2.4 billion. Period revenues jumped by 26 percent to ¥53.0 billion (€381.8m) from ¥42.2 billion.
The Japanese company’s six-month results showed a 50 percent gain in year-over-year net income to ¥6.4 billion (€46.1m) from ¥4.3 billion, with the corresponding operating profit rising 46 percent to ¥8.1 billion (€58.3m). Gross margin slipped to 40.6 percent from 42.0 percent during the period, but revenues rose 16.6 percent to ¥99.2 billion (€714.6m) from ¥85.1 billion. All geographic regions and product categories posted double-digit increases during the six months.
Footwear sales were 18.5 percent higher at ¥28.8 billion (€207.5m) as apparel sales elevated 11.3 percent to ¥26.5 billion (€190.9m) and equipment sales rose 16.9 percent to ¥27.7 billion (€199.5m). Regionally, sales in Japan increased 14.4 percent in H1 to ¥62.1 billion (€447.3m), rose 24.2 percent in the Americas to ¥15.4 billion (€110.9m) and lifted 19.3 percent higher in Asia/Oceania to ¥10.5 billion (€75.6m).
In the EMEA specifically, six-month results were driven by gains in the golf business and a strong performance in running shoes despite supply chain disruptions. The H1 operating profit rose nearly 38 percent to ¥1.1 billion (€7.9m) year-over-year as total regional sales climbed by 17 percent to ¥11.2 billion (€80.7m) from ¥9.6 billion. Footwear sales rose 13 percent to ¥7.7 billion (€55.5m), apparel sales came in at ¥1.6 billion (€11.5m), and equipment sales were flat at ¥1.9 billion (€13.7m).
