Mizuno Corp revenues drop to ¥66 bn in Q2 FY20

29 Dec '20

2 min read

Pic: Mizuno Corporation

Mizuno Corp, a Japanese sportswear company, reported 22.5 per cent revenues decline to ¥66.2 billion (Japanese yen) in its second quarter (Q2) for fiscal 2020 that ended on September 30, compared to the revenues of ¥85.5 billion in the same period previous year. Company’s net income for the six months period dropped to ¥0.1 billion (Q2 FY19: ¥2.9 billion).

Gross margin for the quarter was ¥26.3 billion (¥35.6 billion). Selling, general and administrative expenses slipped to ¥27.2 billion (¥31.4 billion). Mizuno incurred an operating loss for Q2 FY20 of ¥0.9 billion (profit: ¥4.2 billion).

Revenues in Japan during the second quarter fell to ¥45.2 billion (¥58.6 billion). While, in Americas ¥8.4 billion (¥10.4 billion), EMEA ¥6.7 billion (¥7.8 billion) and Asia/ Oceania ¥6.0 billion (¥8.7 billion), every region company registered a decline.

Also, revenues of the all the Mizuno’s product segments decreased during Q2 FY20: footwear ¥18.3 billion (¥24.7 billion), apparel ¥20.5 billion (¥25.0 billion) and equipment ¥15.8 billion (¥20.3 billion).

In future, Mizuno expects an expansion of business related to carbon technology in Japan owned by Mizuno Technics Corporation. While in EMEA, company expects an improvement of indoor sports and team wear business which are to become growth drivers following golf and running.

Fibre2Fashion News Desk (JL)

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