Mizuno (8022) Q1 2025 earnings summary

Executive summary

• Achieved record sales, operating profit, ordinary profit, and net profit for the first quarter, driven by strong performance in Football and Indoor categories across all regions.

• Gross margin ratio improved by 1.5 points year-over-year to 41.5% due to effective pricing and inventory management.

• Double-digit growth in Work segment in Japan and robust sales in Lifestyle footwear globally.

Financial highlights

• Net sales reached ¥60.8bn, up 6.3% year-over-year; operating profit rose 21.6% to ¥6.5bn.

• Ordinary profit increased 16.9% to ¥7.4bn; net profit grew 10.0% to ¥5.1bn.

• Gross margin ratio at 41.5% (+1.5pts yoy); operating profit ratio at 10.7% (+1.3pts yoy); net profit ratio at 8.5% (+0.3pts yoy).

• Total assets at ¥205.5bn as of June 30, 2024; net assets at ¥148.1bn.

Outlook and guidance

• Forecasts are based on current assumptions and may differ due to global economic risks, competition, and exchange rate fluctuations.