Mizuno (8022) Q1 2027 earnings summary

Executive summary

• Achieved record highs in net sales, operating profit, ordinary profit, and net profit for the first quarter year-over-year, with net sales rising 12.6% to ¥71,505 million.

• Strong growth in Golf, Running, Football, Sportstyle shoes, and Work business segments drove performance in Japan and overseas.

• All regions, including Japan, Americas, EMEA, and Asia/Oceania, posted record-high sales; overseas sales ratio reached 47.7%.

Financial highlights

• Net sales: ¥71.5bn (+12.6% yoy); operating profit: ¥8.4bn (+33.1% yoy); ordinary profit: ¥8.7bn (+28.2% yoy); net profit: ¥6.0bn (+23.5% yoy).

• Gross profit increased to ¥31,149 million from ¥26,795 million year-over-year; gross margin ratio improved to 43.6% (+1.4pts yoy); operating profit margin rose to 11.7% (+1.8pts yoy).

• Comprehensive income surged to ¥7,411 million, up 226.6% year-over-year.

• Earnings per share rose to ¥79.28 from ¥63.60 year-over-year.

• All regions contributed to sales growth, with FX effects adding ¥1.9bn to total sales.

Outlook and guidance

• Full-year forecast maintained: net sales of ¥280,000 million (+10.5% YoY), operating profit of ¥25,500 million (+8.1% YoY), and profit attributable to owners of parent of ¥19,000 million (+12.8% YoY).

• Annual dividend forecast raised to ¥66.00 per share.

• Continued focus on promotional investments in growth areas and direct-to-consumer (DTC) sales.

• Asset efficiency and inventory optimization remain key management priorities.