Slide 1: Financial Results Fiscal Year Ending March 31, 2023
Financial Results Fiscal Year Ending March 31, 2023 Yonex Co., Ltd. (Tokyo Stock Exchange Code: 7906) May 11, 2023
Slide 2: Key Performance Highlights
Key Performance Highlights □Net Sales Increased by 43.7％ Y/Y to JPY107bn ・ 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, w
Slide 3: Consolidated Income Statement
Consolidated Income Statement (Million yen) FY3/22 FY3/23 Y/Y Net Sales 74,485 107,019 +32,534 +43.7％ Gross Profit 33,395 45,905 +12,510 +37.5％ Gross Profit Margin 44.8％ 42.9％ ー -1.9%pt SGA 26,656 35,842 +9,185 +34.5％ Operating Profit 6,738 10,063 +3,324 +49.3％ Operating Profit Margin 9.0％ 9.4％ ー +0
Slide 4: Consolidated Balance Sheets
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 Receivable-Trade 12,676 15,030 +2,353 Inventory 11,792 18,832 +7,040 Non-Current Assets 21,457 25,955 +4,497 Total Assets 66,299
Slide 5: Consolidated Cash Flow
Consolidated Cash Flow (Million Yen) +2,989 17,538 -4,458 Operating activities 16,418 -480 +827 Investing ＋ Increase in net income activities Financial Others ー Increase in activities inventory ー Investments in a ー Payment of dividends new factory in India ＋ Proceeds from borrowings and a new core s
Slide 6: Operating Profit Changes
Operating Profit Changes Increase in gross profit offset the negative impact of the rise in SGA. （Million yen) -1,064 -4,884 +12,510 -269 -2,967 10,063 6,738 Increase in SGA -9,185 FY3/22 Gross Profit Personnel Advertising R&D Other FY3/23 Expenses Expenses Expenses Expenses 6
Slide 7: Reported Segment Information
Reported Segment Information (Million yen) FY3/22 FY3/23 Y/Y Net Sales 37,515 47,750 +27.3％ Sporting Goods Division Japan Operating Profit 1,494 1,478 -1.1％ Net Sales 30,968 49,662 +60.4％ Asia Operating Profit 4,977 8,821 +77.2％ North Net Sales 3,194 5,257 +64.6％ America Operating Profit 274 423 +54
Slide 8: Net Sales Change and Forex Impact
Net Sales Change and Forex Impact (Reported Segments) Forex (Million yen) Rate RMB TWD USD EUR GBP Local Currency Basis Forex Impact FY3/22 17.02 3.92 109.79 129.88 151.07 FY3/23 19.47 4.40 131.42 138.03 161.91 Y/Y +14.4% +12.2% +19.7% +6.3% +7.2% 107,019 *FY end of overseas subsidiaries is December
Slide 9: Net Sales and Operating Profit of Sporting Goods Division: Japan
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) Japan Net Sales (+27.3% Y/Y） (Million yen) 47,750 ・ Domestic Sales - Demand from club activities recovered in badminton and soft tennis, and tennis sales, especially for racquets, 37,515 continued to increase. - Sales of r
Slide 10: Net Sales and Operating Profit of Sporting Goods Division: Asia
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) Asia Forex Rate FY3/21 FY3/22 FY3/23 Net Sales（+60.4％ Y/Y） （Million yen) RMB 15.47 17.02 19.47 ・ China TWD 3.61 3.92 4.40 - People’s interest in participating in sports and the popularity of *Jan-Dec 49,662 badminton remai
Slide 11: Net Sales and Operating Profit of Sporting Goods Division: North America
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) North America Forex Rate FY3/21 FY3/22 FY3/23 (Million yen) USD 106.81 109.79 131.42 *Jan-Dec Net Sales（+64.6% Y/Y） ・ Badminton sales grew due to the reopening of sports facilities and restart of sports club activities. 5,
Slide 12: Net Sales and Operating Profit of Sporting Goods Division: Europe
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) Europe Forex FY3/21 FY3/22 FY3/23 Rate EUR 121.80 129.88 138.03 (Million yen) GBP 137.07 151.07 161.91 *Jan-Dec Net Sales（＋63.3% Y/Y） ・ Badminton sales increased as the market was revitalized 3,815 by the reopening of badm
Slide 13: Consolidated Net Sales by Sports Categories
Consolidated Net Sales by Sports Categories FY3/23 Sales (Million yen) Japan Y/Y Overseas Y/Y Total Y/Y Composition Sporting Goods Division Badminton 11,393 +2,133 +23.0% 53,899 +19,858 +58.3% 65,292 +21,991 +50.8% 61.0% Overseas sales composition: Y/Y 82.6%: +4.0%pt Tennis 7,291 +676 +10.2% 10,204
Slide 14: Consolidated Earnings Forecasts for FY3/24
Consolidated Earnings Forecasts for FY3/24 We will invest to build the foundations that will enable us to achieve mid- to long-term growth while maintaining moderate growth. ・ We expect a growing number of people around the world to enjoy sports Forex FY3/23 FY3/24 as the awareness of the value of s
Slide 15: Dividend Policy
Dividend Policy ■Policy: A stable and appropriate level of dividends will be maintained. ■FY3/23: We plan to add an extra 2 yen to the ordinary year-end dividend of 5 yen, raising it to 7 yen per share. Consequently, our full-year dividend will be 13 yen. ■FY3/24 (Forecast): We expect to pay a full-
Slide 16: Reference Information
ove’ YONEX Reference Information
Slide 17: Net Sales (Reported Segments)
Net Sales (Reported Segments) (Million yen) FY3/19 FY3/20 FY3/21 FY3/22 FY3/23 Japan 38,742 38,119 29,009 37,515 47,750 Asia 17,231 18,835 18,276 30,968 49,662 North America 2,205 2,212 1,945 3,194 5,257 Europe 2,418 2,286 1,901 2,336 3,815 Sports Facilities 500 512 422 469 533 Total 61,097 61,967 5
Slide 18: Regional Sales by Destination
Regional Sales by Destination (Million yen) FY3/19 FY3/20 FY3/21 FY3/22 FY3/23 Japan 29,990 29,350 22,766 28,252 32,146 Overseas 31,107 32,616 28,787 46,232 74,873 Asia 24,488 26,009 23,181 38,095 59,122 North America 2,205 2,212 1,945 3,194 5,263 Europe 3,877 3,760 3,131 3,484 8,662 Others 536 633
Slide 19: Forward-looking statements notice
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 these materials were prepared. Investors are cautioned that various unforeseen factors could cause actual results t