Yonex Co., Ltd. · TSE:7906
Yonex — Q1 FY3/18 Earnings Presentation
18 slides from Yonex's earnings presentation, Aug 3, 2017
Slide 1: Financial Results, 1st Quarter of Fiscal Year Ending March 31, 2018
Financial Results 1st Quarter of Fiscal Year Ending March 31, 2018 YONEX CO,. LTD. (TSE: 7906) August 3, 2017
Slide 2: Consolidated Financial Results Highlights
Consolidated Financial Results Highlights Net Sales Grew, but Profit Fell due to Increase in SGA (Million yen) FY3/17 FY3/18 YY Change 1Q 1Q Details for FY2018/3 1Q Net sales 15,297 15,915 618 +4% ＜Net sales＞ Forex impact -309 Gross profit 6,793 6,647 -146 -2.2% Gross profit margin 43.2% 41.8% -2.
Slide 3: Consolidated Net Sales (Japan & Overseas)
Consolidated Net Sales (Japan & Overseas) Overseas sales ratio increased to 50.6% Japan Overseas （Million yen） 15,915 15,297 11,675 7,519 8,060 3,917 7,757 7,777 7,855 FY3/16 1Q FY3/17 1Q FY3/18 1Q ※Net Sales in “Overseas” include export sales and intermediary trades in Japan. 2
Slide 4: Segment Sales Information
Segment Sales Information Japan and Asia Contributed to Total Sales Increase （Million yen） FY3/17 FY3/18 YY Change 1Q 1Q Japan 9,833 10,178 +3.5% North America 469 514 +9.7% Sporting Goods Division Europe 639 638 -0.2% Asia 4,174 4,393 +5.3% Total 15,117 15,725 +4.0% Sports Facilities Division 179 1
Slide 5: 1Q Net Sales Increase / Decrease (Reported Segments)
1Q Net Sales Increase / Decrease （Reported Segments） Local currency base Forex impact （Million yen） △233 +10 15,915 +453 +66 △67 +54 △8 +344 15,297 FY3/17 Japan North America Europe Asia Sports FY3/18 1Q facilities 1Q Forex rate USD EUR GBP RMB TWD FY3/17 1Q (Jan-Mar)※ 115.47 127.22 165.28 17.60 3.4
Slide 6: Net Sales (Reported Segments)
Net Sales (Reported Segments) Japan(Export・Intermediary Trade) North America (subsidiary) Europe(subsidiary) Asia (subsidiary) sports facilities （Million yen） 15,915 15,297 190 179 4,174 4,393 182 11,675 537 638 653 639 514 493 469 9,808 9,833 10,178 FY3/16 1Q FY3/17 1Q FY3/18 1Q ※Japan segment incl
Slide 7: Net Sales and Operating Profit of Sporting Goods Division (Reported Segments)
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) Japan North Forex FY 3/16 FY 3/17 FY 3/18 10,178 rate 1Q 1Q 1Q 9,808 9,833 America USD 119.09 115.47 113.63 （Million yen） 631 514 495 493 469 337 22 0.7 -9 FY3/16 FY3/17 FY3/18 FY3/16 FY3/17 FY3/18 FY3/16 FY3/17 FY3/18 FY3
Slide 8: Net Sales and Operating Profit of Sporting Goods Division (Reported Segments)
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) Forex FY 3/16 FY 3/17 FY 3/18 Forex FY 3/16 FY 3/17 FY 3/18 Europe rate 1Q 1Q 1Q Asia rate 1Q 1Q 1Q EUR 134.17 127.22 121.07 RMB 19.07 17.60 16.56 GBP 180.46 165.28 140.79 TWD 3.77 3.46 3.65 4,174 4,393 （Million yen） 664 6
Slide 9: Net Sales (Unreported Regional Data)
Net Sales (Unreported Regional Data) Asia Increased by 7.4% YY Japan North America Europe Asia Others （Million yen） 15,297 15,915 145 119 11,675 5,883 6,317 126 2,281 1,017 1,047 1,082 493 469 514 7,757 7,777 7,855 FY3/16 1Q FY3/17 1Q FY3/18 1Q ※Export and intermediary trade sales is included in eac
Slide 10: Consolidated Net Sales by Sports Categories
Consolidated Net Sales by Sports Categories Badminton Grew Steadily, “Others” Recorded Strong Gains (Million yen) Sales Net Sales YY Change composition Badminton 8,760 55.0% +3.0% Tennis 2,137 13.5% -1.9% Sporting Goods Division Golf 244 1.5% +4.6% Others 4,583 28.8% +9.1% Total 15,725 98.8% +4.0% S
Slide 11: Composition of Consolidated Net Sales (By Sports Categories)
Composition of Consolidated Net Sales (By Sports Categories) Badminton Share Remained High, “Others” Share Grew Badminton Tennis Golf Others Sports Facilities （Million yen） 15,915 15,297 1.2% 1.2% 11,675 27.5% 28.8% 1.6% 1.5% 1.5% 31.2% 14.2% 13.5% 2.5% 16.0% 55.6% 55.0% 48.7% FY3/16 1Q FY3/17 1Q FY
Slide 12: Badminton Sales (Japan & Overseas)
Badminton Sales (Japan & Overseas) Sales in both Japan and Overseas Grew Japan Overseas （Million yen） 8,503 8,760 YY Change ＋257 million yen （+3.0％） 5,690 Overseas ＋184 million yen 5,954 6,139 （+3.1％） Japan ＋72 million yen 3,086 （+2.8％） 2,604 2,548 2,620 Overseas Sales Composition 70.1 ％ FY3/16 1Q F
Slide 13: Tennis Sales (Japan & Overseas)
Tennis Sales (Japan & Overseas) Significant Growth Overseas (Composition Rises +4.8% Points YY to 22.9%) Japan Overseas （Million yen） 2,178 2,137 YY Change -41 million yen 1,868 393 490 （-1.9％） 272 Overseas ＋96 million yen （+24.5％） Japan -137 million yen 1,784 （-7.7％） 1,595 1,646 Overseas Sales Comp
Slide 14: Golf Sales (Japan & Overseas)
Golf Sales (Japan & Overseas) Sales Overseas Recovers, Japan Declines Japan Overseas （Million yen） YY Change 294 ＋10 million yen 244 （+4.6％） 234 109 82 Overseas ＋14 million yen 68 （+21.2％） Japan -3 million yen （-2.1％） 184 165 162 Overseas Sales Composition 33.7 ％ FY3/16 1Q FY3/17 1Q FY3/18 1Q Golf S
Slide 15: Other Sales (Japan & Overseas)
Other Sales (Japan & Overseas) Growth in Overseas (Mainly Apparel in China) and Domestic Apparel Japan Overseas （Million yen） 4,583 YY Change 4,201 ＋381 million yen （+9.1％） 3,640 1,348 1,102 448 Overseas ＋245 million yen （+22.3％） Japan ＋136 million yen （+4.4％） 3,191 3,098 3,235 Overseas Sales Compos
Slide 16: Sports Facilities Division Sales (Japan)
Sports Facilities Division Sales (Japan) PR as a Professional Tour Course Allows Visitors to Grow Japan （Million yen） YY Change ＋10 million yen （+5.7％） 182 190 179 FY3/16 1Q FY3/17 1Q FY3/18 1Q Sports facilities division: Golf course, driving range, tennis clubs 15
Slide 17: Consolidated Earnings Forecasts of Fiscal Year March 2018
Consolidated Earnings Forecasts of Fiscal Year March 2018 （Million yen） FY3/17 2Q FY3/17 FY3/18 2Q FY3/18 YY Change YY Change Results Results Forecasts Forecasts Net sales 31,330 61,042 32,800 +4.7% 65,000 +6.5% Operating profit 2,697 4,147 2,700 +0.1% 4,400 +6.1% Operating profit margin 8.6% 6.8% 8
Slide 18: Statements made in these materials with respect to plans, strategies and future performances are
Statements made in these materials with respect to plans, strategies and future performances are forward‐looking statements based on information and assumptions available to Yonex when the materials were prepared. Investors are cautioned that various unforeseen factors could cause actual results to