Mizuno Corporation, a Japanese sportswear company, has reported 11.4 per cent revenues decline to ¥150.4 billion (Japanese yen) in its complete fiscal 2020 ended on March 31, 2021, compared to the revenues of ¥169.7 billion in the previous fiscal. The company’s net income for the year dropped 19 per cent to ¥3.7 billion (FY19: ¥4.6 billion).
Gross margin for FY20 was ¥60.6 billion (¥69.0 billion), while selling, general and administrative expenses were ¥56.8 billion (¥62.8 billion). Mizuno’s operating profit for the year fell 39.2 per cent to ¥3.8 billion (¥6.3 billion).
Revenues in Japan during the year came down to ¥106.3 billion (¥118.0 billion), while Americas sales dropped marginally to ¥18.1 billion (¥19.4 billion). EMEA sales for FY20 were ¥13.0 billion (¥15.2 billion), and Asia/Oceania sales were ¥13.0 billion (¥17.2 billion).
Mizuno’s all product segments reported decline during FY20: footwear ¥40.4 billion (¥49.7 billion), apparel ¥47.8 billion (¥48.6 billion) and equipment ¥35.3 billion (¥39.1 billion).
Fibre2Fashion News Desk (JL)