Mizuno is opening its first golf equipment store in China, located in Beijing. The Japanese company plans to open an additional door in the city by 2008 before doing the same thing in Shanghai and Guangzhou. Mizuno estimates that this year its golf business in China will grow by 45 percent to ¥1.4 billion (€9.2m-$12.0m), and the company plans to double this amount to ¥2.8 billion (€18.3m-$24.0m) for its financial year ending March 31, 2007. Mizuno’s net income plummeted by 47 percent to ¥3.35 billion (€21.9m-$28.7m) in its 1st half ended Sept. 30, but the year-ago period included extraordinary earnings related to the liquidation of a subsidiary. Operating income was up by 8 percent to ¥3.76 billion (€24.6m-$32.2m). Sales grew by 7 percent to ¥80.50 billion (€526.5m-$689.7m). Sales in Europe climbed by 23 percent to ¥5.36 billion (€35.1m-$45.9m), and in the USA they jumped by 29.8 percent to ¥12.62 billion (€82.5m-$108.1m). Turnover in Japan was flat at ¥57.56 billion (€376.5m-$493.2m), while sales to the rest of Asia grew by 22.8 percent to ¥4.96 billion (€32.4m-$42.3m). For its current financial year, ending March 31, the company is projecting total sales to rise by 2 percent to ¥156.0 billion (€1,020m-$1,336m) and net income to drop by 36 percent to ¥5.0 billion (€32.7m-$42.8m).