Yonex Co., Ltd. reported that sales in the six months ended September 30 rose 15.5 percent, reaching ¥91.8 billion up from ¥79,532 a year ago, as gains in Taiwan, Japan, and North America offset a decline in China.
Operating profit rose 23.3 percent to ¥10,822 million from ¥8,847 million, while net profit climbed 28.9 percent to ¥8.2 billion, sgbonline.com reported.
“Amid firm sports markets, sales increased as strong performances by Team Yonex athletes drew greater attention to Yonex products, together with the positive foreign currency translation impact of the weaker yen,” Yonex said regarding its sales performance.
Team Yonex players in badminton are fueling the growth of the sport throughout Asia alongside many other areas, such as Europe. Meanwhile, stellar displays by tennis players on Team Yonex—featuring two competitors outfitted in Yonex gear “Head-to-Toe” who captured three out of four women’s singles Grand Slam tournaments—helped direct increased focus toward an expanded selection of Yonex merchandise, such as apparel.
Sales in Japan reached ¥5,794 million, up 14.4 percent, with operating profit jumping 69.4 percent to ¥3,514 million. In the Asia region, sales totaled ¥47,339 million, rising 15.7 percent year over year, while operating profit rose 15.2 percent to ¥6,963 million.
In North America, sales totaled ¥4,744 million, increasing 22.4 percent, with operating profit rising 43.7 percent to ¥412 million. In Europe, sales were ¥3,612 million, climbing 17.1 percent year over year, and operating profit totaled ¥475 million, up 108.7 percent.
Yonex said first-half results were “largely in line with expectations, and progress toward the full-year forecasts remains on track.”
The full-year earnings forecasts announced on August 10 remained unchanged, following an earlier revision that raised the full-year sales forecast to ¥181 billion from ¥178.00 billion and the operating profit forecast to ¥18.90 billion from ¥17.80 billion.
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