Record-highsales in the cumulative 1Q-3Q due to strong demand in all regions
Our overseas subsidiaries saw sales increases in local currency terms,
and forex exchange also boosted sales due to yen depreciation.
In China, the impact of sporadic lockdowns in Jul-Sep 3Q* was limited.
*Consolidated subsidiaries fiscal year end in Dec.
□Operating Profit Increased by 55.9% Y/Y to JPY9.3bn
Increase in gross profit due to higher sales 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.
Achieved record-high profits in the cumulative 1Q-3Q
□Forecasts for FY3/23 Revised Upwards
Sales and profits are expected to exceed our previous forecasts.
Operating Profit: The impacts of higher costs and increased investments have been reflected.
Ordinary Income and Net Profit: Foreign exchange losses incurred towards the end of 3Q are considered.
2
Consolidated Income Statement
(Million yen)
FY3/22
FY3/23
Y/Y
1Q-3Q
1Q-3Q
Net Sales
53,975
Gross Profit
24,196
79,632 +25,657 +47.5％
34,696 +10,500 +43.4％
Gross Profit Margin
44.8％
43.6％
ー
-1.2%pt
SGA
18,218
Operating Profit
5,978
25,378 +7,160 +39.3％
9,317 +3,339 +55.9％
Operating Profit Margin
11.1％
11.7％
ー
+0.6%pt
Ordinary Profit
6,223
Net Profit
5,081
9,152 +2,928 +47.1％
6,703 +1,622 +31.9％
3
Consolidated Balance Sheets
(Million yen)
End FY3/22
End FY3/23
Change
3Q
Asset
Current Assets
44,841
55,961
+11,120
Cash and Deposits
17,922
21,131
+3,209
Notes and Accounts
12,676
15,533
+2,856
Receivable-Trade
Inventory
11,792
16,734
+4,942
Non-Current Assets
21,457
24,670
+3,212
Total Assets
66,299
80,632
+14,333
Liabilities
Total Liabilities
20,569
26,867
+6,298
Debt with Interest
2,447
4,080
+1,632
Total Net Assets
45,729
53,764
+8,034
Equity Ratio
68.8%
66.5%
-2.3%pt
Total Liabilities
66,299
80,632
+14,333
and Net Assets
4
Operating Profit Changes
Increase in gross profit offset the negative impact of the rise in SGA.
5,978
+10,500
-1,000
-3,732
-325
Increase in SGA -7,160
-2,101
（Million yen)
9,317
FY3/22
Gross Profit Personnel
Advertising
R&D
Others
1Q-3Q
Expenses
Expenses
Expenses
FY3/23
1Q-3Q
5
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YONEX Co. Ltd. published this content on 08 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 February 2023 06:13:08 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. 
