Mizuno (8022) Q1 2026 earnings summary

Executive summary

• Net sales reached a record 63.5bn JPY, up 4.5% year-over-year, driven by global growth in Football, Work, and Sportstyle shoes.

• Operating profit declined 3.3% year-over-year to 6.3bn JPY due to higher SG&A expenses, but the operating profit ratio exceeded the annual forecast.

• Profit attributable to owners of parent decreased 5.0% year-over-year to 4.9bn JPY.

• Comprehensive income dropped sharply to 2.3bn JPY, down 71.9% year-over-year.

• Gross margin ratio improved year-over-year due to effective price setting.

Financial highlights

• Gross profit increased to 26.8bn JPY from 25.2bn JPY year-over-year.

• Ordinary profit was 6.8bn JPY, down 8.6% year-over-year.

• Earnings per share was 63.60 JPY, down from 66.95 JPY year-over-year (post-split).

• Total assets at quarter-end were 214.9bn JPY, down 3.6bn JPY from March 2025.

• Net assets stood at 157.1bn JPY, a decrease of 3.3bn JPY from the previous fiscal year-end.

Outlook and guidance

• Full-year net sales forecast at 260.0bn JPY, up 8.2% year-over-year, with operating profit projected at 22.5bn JPY.

• Profit attributable to owners of parent forecasted at 16.5bn JPY, up 8.2% year-over-year.

• No changes to previously announced full-year forecasts.

• Forecasts are subject to global economic risks, competition, and exchange rate changes.

• Operating profit ratio for 1Q at 9.9% exceeded the annual forecast of 8.7%.