Mizuno with record annual revenue
The Japan-based sportswear company announced that its fiscal 2022 revenue grew by 22.8% over the prior year, reaching the “record” amount of 212.0 billion Japanese yen (1.50 billion USD)
Mizuno noted that the footwear segment “recovered sharply from the supply chain disruption”- this segment's revenue increased by 34.9% over the last fiscal year to 63.7 billion Japanese yen (456.6 million US dollars), as compared to fiscal 2021. Next came the apparel segment, with a 57.8 billion Japanese yen revenue (414.3 million US dollars), up by 15.9% year-over-year, followed by the equipment segment (up by 20.5% to 55.2 billion Japanese yen or 395.6 million US dollars) and the service/others' segment (up by 18.8 to 35.3 billion Japanese yen or 253.0 million US dollars).
By geography, the company's revenue in Japan reached 131.5 billion Japanese yen (942.5 million US dollars), growing by 15.1% in fiscal 2022 over the previous year. Internationally, Mizuno's revenue totalled 31.5 million Japanese yen (225.8 million US dollars) in the Americas region, up by 31.5% year-over-year, 25.1 million Japanese yen (180.0 million US dollars) in the EMEA region, up by 40.1% year-over-year, and 24.3 billion Japanese yen (174.2 million US dollars) in the Asia/Oceania region, up by 43.8% year-over-year.
In the twelve months to the 31st of March, the company's gross margin widened by 9.4 percentage points to 81.0%, as compared to the same period of fiscal 2021. Mizuno also reported a “record” net income of 9.9 billion Japanese yen (71.0 million US dollars), which grew by 28.4% over the 7.7 billion Japanese yen (56.0 million US dollars) net income recorded in the same period of the prior year.
1 yen = 0,0072 US dollar
Image Credits: sneakerfreaker