Business news :Mizuno's Profits Slump in Nine Months

Mizuno Corp. reported revenues increased 5.3 percent in its fiscal nine months ended Dec. 31, to  ¥120.9 billion ($1.3 billion). Sales of footwear, especially running shoes, and apparel remained strong. Overall sales increased in Japan and the Americas on a currency-neutral basis, reflecting the contribution of Senoh Corporation, which became a Mizuno Group company in July 2012.

Operating profit was ¥2.4 billion ($25.9 mm), down 48.2 percent, while net income was ¥1.4 billion ($15.1 mm), down 41.3 percent. The decline was blamed on slow business in China, an increase in purchasing costs and in SG&A expenses.

In Europe, sales declined 1.2 percent on a currency-neutral basis in a challenging market environment attributable to a series of financial problems. Taking advantage of branding effect in the London Olympics, the running shoes and apparel business continue strong.

In the Americas, sales of footwear, especially running shoes remained strong and sales rose 7.6 percent on a currency-neutral basis.
In golf, demand for Custom Fitting continued to increase.

Team sports business like Volleyball continues strong.

( SportsOneSource Media )

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