Takihyo Q1 FY21: sales ¥11.7 bn; operating loss ¥173 mn

27 Jul '20

1 min read

Pic: Takihyo/ Zoy

Takihyo, a manufacturer of apparel and textile products, posted 26.1 per cent sales decline to ¥11.7 billion (Japanese yen) in its first quarter (Q1) FY21 ended on May 31, 2020 compared to sales of ¥15.8 million in same period previous fiscal. Operating loss during the quarter were ¥173 million compared to operating profit of ¥262 million in Q1 FY20.

Ordinary loss were ¥142 million compared to ordinary profit of ¥274 million in Q1 FY20. Gross profit for the quarter was ¥2.5 billion (Q1 FY20: ¥3.2 billion). Company incurred a loss of ¥249 million during the quarter compared to profit of ¥215 million in same period last year.

During the quarter, the company restructured its organisation and started operating in an organisation divided in age segments for both ladies’ apparel and baby and kids’ apparel, as reported in its press release.

Selling, general and administrative expenses during Q1 FY21 fell 9.1 per cent to ¥2.7 billion (¥3.0 billion) due to a decrease in logistics expenses and a decrease in travel and other expenses owing to company-wide remote work efforts.

Fibre2Fashion News Desk (JL)

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