Mizuno (8022) Q4 2026 earnings summary

Executive summary

• Achieved record-high net sales of ¥259,045 million, operating profit, ordinary profit, and net profit for FY2025, with strong growth in Golf, Football, Work business, and Sportstyle shoes, both domestically and overseas.

• Gross profit margin improved year-over-year, driven by strengthened direct-to-consumer (DTC) initiatives.

• All regions reported record-high sales, with notable growth in Japan, EMEA, and Americas.

• Celebrated the 120th anniversary, emphasizing innovation and leveraging sports product expertise.

Financial highlights

• Net sales reached ¥259.0 billion, up 7.8% year-over-year; operating profit rose 8.8% to ¥22.6 billion; ordinary profit up 12.3% to ¥24.0 billion; net profit increased 20.6% to ¥18.4 billion.

• Gross profit margin rose to 41.9%, up 0.9 points year-over-year.

• Comprehensive income rose 30.3% year-over-year to ¥24,351 million.

• Total assets increased 15.1% to ¥251.5 billion; net assets up 10.9% to ¥174.3 billion; capital adequacy ratio at 68.9%.

• Cash and cash equivalents at year-end were ¥46.0 billion, up from ¥32.4 billion.

Outlook and guidance

• FY2026 forecast: sales of ¥280 billion, operating profit of ¥25.5 billion, ordinary profit of ¥26.5 billion, and net profit of ¥19.0 billion.

• Mid-term plan targets sales of ¥330 billion and operating profit of ¥31 billion by FY2028.

• Aims for ROA and ROE of 11.5% by FY2028, focusing on growth categories, DTC expansion, pricing optimization, and asset efficiency.

• The company aims to improve asset efficiency and pursue sustainable growth through high value-added products.