The impact of restrictive measures to contain Covid-19 in Japan weighed on Mizuno’s results for the first half of its fiscal year ending on March 31, 2021. The Japanese group’s revenues declined by 22.5 percent from the year-ago period to 66.2 billion yen . The gross margin narrowed by 2.0 percentage points to 39.7 percent, while net income plunged by 95.7 percent to ¥100 million .
Sales decreased significantly in all region due to the COVID-19 pandemic.
- In Japan, sales dropped in all business categories except work business and a few products.
- In Americas and Europe, sales declined although golf business was relatively good.
- In Asia/Oceania, sales struggled especially in South Korea.