The first half of the fiscal year ended Sept. 30 saw a 10.1 percent drop in worldwide revenues for Mizuno Corporation, ending at ¥76.2 billion (€586.7m-$879.3m). The gross margin fell by 1.2 percentage points to 40.7 percent, and net income dropped by 31.8 percent to ¥0.9 billion (€6.9m-$10.4m).
Japanese sales went down by 3.7 percent to ¥56.7 billion (€436.5m-$654.3m) as footwear prices sank and sales of golf products weakened. All regions outside the home market of Japan had double-digit drops: Europe fell by 19 percent to ¥5.3 billion (€40.8m-$61.2m) due to currency effects, while its sales of golf products, apparel and footwear all rose in the region; the Americas were down by 23 percent to ¥9.7 billion (€74.7m-$111.9m) as footwear prices dropped and sales declined for baseball and golf; and the rest of Asia/Australia sank by 33 percent to ¥4.4 billion (€33.9m-$50.8m).
By product category, baseball fell by 4.2 percent to ¥20.4 billion (€157.1m-$235.4m); apparel decreased by 13 percent to ¥15.1 billion (€116.3m-$174.3m); athletic footwear was down by 11 percent to ¥14.4 billion (€110.9m-$166.2m); golf dropped by 21 percent to ¥11.8 billion (€90.8m-$136.2m); and other revenues fell by 3 percent to ¥14.5 billion (€111.6m-$167.3m).
The company maintains previous guidance of a turnover of ¥160 billion (€1,232m-$1,846m) for the full fiscal year, with net income reaching ¥2.5 billion (€19.2m-$28.8m).
