Achieved record-high sales due to strong demand in all regions,
and despite the concerns over inflation, economic slowdown, and geopolitical risks.
Yen depreciation contributed to sales increases in overseas subsidiaries, where sales also increased in local currency terms.
□Operating Profit Increased by 49.3% Y/Y to JPY10bn
Achieved record-high profit due to higher sales and a subsequent increase in gross profit, which offset the negative impacts of raw material price hikes and higher purchasing costs caused by yen depreciation.
SGA increased as we stepped up our marketing activities.
□Forecasts for FY3/24
While lower than the growth seen in FY3/23, we expect to maintain moderate growth.
We will invest aggressively in marketing and human resources to build the foundations that enable us to achieve mid- to long-term growth.
2
Consolidated Income Statement
(Million yen)
FY3/22
FY3/23
Y/Y
Net Sales
74,485
Gross Profit
33,395
107,019 +32,534 +43.7％
45,905 +12,510 +37.5％
Gross Profit Margin
44.8％
42.9％
ー
-1.9%pt
SGA
26,656
Operating Profit
6,738
35,842 +9,185 +34.5％
10,063 +3,324 +49.3％
Operating Profit Margin
9.0％
9.4％
ー
+0.4%pt
Ordinary Profit
7,246
9,961
+2,715
+37.5％
Net Profit
5,780
7,331
+1,551
+26.8％
EPS（Yen）
66.11
84.05
+17.94
+27.1%
ROE
13.6％
14.9%
ー
+1.3%pt
3
Consolidated Balance Sheets
(Million yen)
End FY3/22
End FY3/23
Change
Asset
Current Assets
44,841
53,465
+8,624
Cash and Deposits
17,922
16,912
-1,010
Notes and Accounts
12,676
15,030
+2,353
Receivable-Trade
Inventory
11,792
18,832
+7,040
Non-Current Assets
21,457
25,955
+4,497
Total Assets
66,299
79,421
+13,122
Liabilities
Total Liabilities
20,569
26,321
+5,752
Debt with Interest
2,447
4,026
+1,579
Total Net Assets
45,729
53,099
+7,370
Equity Ratio
68.8%
66.6%
-2.2%pt
Total Liabilities
66,299
79,421
+13,122
and Net Assets
4
Consolidated Cash Flow
17,538
+2,989
Operating activities
Increase in net income
Increase in inventory
-4,458
Investing activities
-480
Financial activities
(Million Yen)
16,418
+827
Others
ー Investments in a
ー Payment of dividends
new factory in India
＋ Proceeds from borrowings
and a new core system
Start
End
FY3/23
FY3/23
5
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Disclaimer
YONEX Co. Ltd. published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 06:26:03 UTC.
YONEX CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of sporting goods, and the operation of sports facilities. The Company operates through two business segments. The Sporting Goods segment is mainly engaged in the manufacture, purchase and sale of sporting goods, including badminton rackets, soft tennis rackets, tennis rackets, golf clubs, snowboards, shuttlecocks and strings. The Company distributes it's products within the domestic market and to overseas markets, including Americas, Europe, and Asia. The Sports Facilities segment is mainly engaged in the management and operation of golf courses, tennis driving ranges and golf driving ranges.
YONEX CO., LTD. 
