Mizuno Corporation reports revenues of ¥170 bn in FY19

03 Jun '20

1 min read

Pic: Mizuno Corporation

Mizuno Corporation, a Japanese sportswear company, reported 4.7 per cent revenues decline to ¥169.7 billion in fiscal 2019 ended on March 31, 2020 compared to ¥178.1 billion in previous fiscal year. Net income during the year were down 23 per cent to ¥4.6 billion (FY18: ¥6.0 billion). Operating profit fell 17.8 per cent to ¥6.3 billion (¥7.6 billion).

Ordinary profit during the year were ¥6.1 billion (¥7.7 billion). Selling, general & administrative expenses were ¥62.8 billion (¥65.9 billion).

Revenues in Japan were down to ¥118.0 billion (¥124.5 billion). Company reported that three factors that caused drop in sales in Japan were; the shrink of competitive sports market, mild winter and temporary store closures related to Covid-19.

Sales in America were ¥19.4 billion (¥18.0 billion), due to strong sales in golf and running. Sales in EMEA (Europe Middle East and Africa) were stagnant at $15.2 billion. Sales in Asia/Oceania were down to ¥17.2 billion.

Sales of Footwear segment fell to ¥49.7 billion (¥52.8 billion). Apparel segment sales dropped to ¥48.6 billion (¥53.8 billion). Equipment sales dropped marginally to ¥39.1 billion (¥39.5 billion).

Fibre2Fashion News Desk (JL)

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