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Japan' Gunze's 9M 2024 sales edge up to $677.2 mn

11 Feb '25

3 min read

Japan' Gunze's 9M 2024 sales edge up to $677.2 mn

Pic: Gunze Limited

Insights

Gunze Limited has reported net sales of ¥102.92 billion (~$677.2 million) in 9M FY24, up from ¥101.45 billion in 2023.
Gross profit rose to ¥32.59 billion (~$214.72 million), while operating profit reached ¥6.38 billion.
Net profit increased to ¥4.47 billion, with EPS at ¥266.96 ($1.76).
Lower non-operating expenses and higher ordinary profit contributed to overall earnings growth.

Gunze Limited, a Japanese clothing brand, has reported net sales of ¥102,916 million (~$677.2 million) in the nine-month (9M) period ended December 31, 2024, an increase from ¥101,450 million (~$679.72 million) in the same period in 2023. The cost of sales rose to ¥70,321 million (~$463.12 million) from ¥69,143 million (~$454.9 million), resulting in a gross profit of ¥32,594 million (~$214.72 million), slightly up from ¥32,306 million (~$205.3 million) in the prior year.

The total net sales for the company stood at ¥102,916 million (~$677.2 million) in 9M with ¥38,153 million from the functional solutions segment, ¥9,624 million from medical, ¥46,410 million from apparel, and ¥8,727 million from lifestyle creations, Gunze Limited said in a press release.

The segment’s profit amounted to ¥8,919 million, with ¥5,179 million from functional solutions, ¥1,784 million from medical, ¥1,320 million from apparel, and ¥634 million from lifestyle creations. After an adjustment of ¥2,541 million for overall costs not allocated to specific segments, the consolidated segment profit stood at ¥6,377 million.

Selling, general, and administrative (SG&A) expenses increased marginally to ¥26,216 million (~$166.5 million) from ¥26,138 million in 9M 2023, leading to an operating profit of ¥6,377 million in 9M 2024, compared to ¥6,168 million in the same period in 2023.

The non-operating income of the company totalled ¥719 million (~$4.82 million), slightly down from ¥757 million in the prior year, driven by lower interest income (¥50 million vs ¥62 million) and dividend income (¥233 million vs ¥291 million).

The non-operating expenses of the company declined to ¥588 million from ¥840 million, due to a reduction in interest expenses (¥59 million vs ¥192 million) and foreign exchange losses (¥15 million vs ¥60 million). As a result, ordinary profit increased to ¥6,508 million, compared to ¥6,085 million in 2023.

The profit before income taxes surged to ¥6,965 million, up from ¥4,366 million in 2023. Income taxes increased to ¥2,494 million from ¥347 million, leading to a net profit of ¥4,471 million, compared to ¥4,018 million in the previous year. Profit attributable to owners of the parent rose to ¥4,441 million, up from ¥3,985 million, while profit attributable to non-controlling interests was ¥29 million, slightly down from ¥33 million in 2023.

The basic earnings per share (EPS) stood at ¥266.96 (~$1.76), compared to ¥233.96 for the same period in 2023. Similarly, the diluted earnings per share for the period were ¥266.35 (~$1.76) in 2024, up from ¥233.43 in 2023, reflecting an overall increase in earnings performance.

Fibre2Fashion News Desk (SG)

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