Slide 1: Financial Results Fiscal Year Ending March 31, 2022
Financial Results Fiscal Year Ending March 31, 2022 YONEX CO., LTD. (Tokyo Stock Exchange Code: 7906) May 17, 2022
Slide 2: 1. Financial results for FY3/22
１．Financial results for FY3/22
Slide 3: Key Performance Highlights
Key Performance Highlights □Net Sales Increased by 44.5% Y/Y to JPY74.4bn ・Sales recovered in all segments from FY3/21 when the impact of COVID-19 was severe. ・Strong sales growth in China, on the back of solid badminton product sales, was a major contributing factor allowing us to achieve record-hi
Slide 4: Consolidated Income Statement
Consolidated Income Statement ■Sales and Profits Reached Record Highs ・Strong growth in China led to increases in both consolidated sales and profits. ・Ordinary profit increased due in part to foreign exchange gains resulting from yen depreciation. ※Reference FY3/22 VS (Million yen) FY3/20 FY3/21 FY
Slide 5: Consolidated Balance Sheets
Consolidated Balance Sheets (Million yen) End FY3/21 End FY3/22 Change Asset Current Assets 34,939 44,841 +9,901 Cash and Deposits 13,271 17,922 +4,651 Notes and Accounts Notes and Accounts Receivable-Trade 11,181 12,676 +1,495 Receivable-Trade Rose, as sales increased. Inventory 9,172 11,792 +2,620
Slide 6: Consolidated Cash Flow
Consolidated Cash Flow (Million yen) -2,286 17,538 Investing -1,964 +7,430 activities Financial +1,194 activities Others 13,164 Maintenance and update of facilities, new Operating core system, others activities Repayment of loans, payment of dividends, others Increase of net income, others Start End
Slide 7: Operating Profit Changes
Operating Profit Changes Significant Influence of Increase in Gross Profit Gross Profit (Million yen) Negative Impact +1,296 Positive Impact (+21.6%) +4,341 Personnel (+59.6%) Expenses 6,738 +12,111 Advertising +192 Expenses (+17.0%) +574 （+56.9%） （+9.9%） R&D Expenses Others SGA +6,405（+31.6%） 1,032
Slide 8: Reported Segment Information
Reported Segment Information (Million yen) FY3/21 FY3/22 Y/Y Net sales 29,009 37,515 +29.3％ Sporting Goods Division Japan Operating profit -1,283 1,494 ー Net sales 18,276 30,968 +69.5％ Asia Operating profit 2,363 4,977 +110.6％ North Net sales 1,945 3,194 +64.2％ America Operating profit 7 274 ー Net s
Slide 9: Net Sales Change and Forex Impact (Reported Segments)
Net Sales Change and Forex Impact (Reported Segments) Forex Rate* RMB TWD USD EUR GBP (Million yen) Local Currency Basis Forex Impact 21/3期 15.47 3.61 106.81 121.80 137.07 22/3期 17.02 3.92 109.79 129.88 151.07 *FY end of overseas subsidiaries is December 74,485 +263 +46 +88 (+13.8%) +172 (+11.0%) +1
Slide 10: Net Sales and Operating Profit of Sporting Goods Division: Japan
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) Japan Net Sales（+29.3% Y/Y） (Million yen) ・Domestic Sales: Increased due to efforts to stimulate demand - To prevent the spread of infection, relatively strict state of emergency measures were announced in 1Q and 2Q, less
Slide 11: Net Sales and Operating Profit of Sporting Goods Division: Asia
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) Asia (Million yen) Forex Rate FY3/20 FY3/21 FY3/22 Net Sales（＋69.5% Y/Y） RMB 15.77 15.47 17.02 ・China…Sales rose significantly TWD 3.52 3.61 3.92 - Heightened excitement for badminton as Chinese players performed *Jan-Dec
Slide 12: Net Sales and Operating Profit of Sporting Goods Division: North America
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) North America (Million yen) Forex FY3/20 FY3/21 FY3/22 Net Sales（＋64.2% Y/Y） Rate USD 109.04 106.81 109.79 *Jan-Dec ・Sales of tennis products grew significantly - Sustained marketing measures to raise brand awareness and e
Slide 13: Net Sales and Operating Profit of Sporting Goods Division: Europe
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) Europe (Million yen) Forex Net Sales（＋22.9% Y/Y） FY3/20 FY3/21 FY3/22 Rate EUR 122.06 121.80 129.88 GBP 139.25 137.07 151.07 ・Germany: Sales increased on the back of solid sales of *Jan-Dec tennis products - Sales of tenni
Slide 14: Consolidated Net Sales by Sports Categories
Consolidated Net Sales by Sports Categories FY3/22 Sales (Million yen) Japan Y/Y Overseas Y/Y Total Y/Y Composition Sporting Goods Division Badminton 9,260 +1,940 +26.5% 34,040 ＋12,524 +58.2% 43,300 ＋14,464 +50.2% 58.1% Overseas sales composition: Y/Y (78.6%: +4.0%pt) Tennis 6,614 +1,829 +38.2% 4,88
Slide 15: Consolidated Earnings Forecasts for FY3/23
Consolidated Earnings Forecasts for FY3/23 Net Sales Forex FY3/22 FY3/23 - Although China is expected to be negatively impacted by the lockdown in 2Q, Rate1 Results Forecast we assume the performance will recover firmly after the lockdown is lifted. RMB 17.02 19.0 TWD 3.92 4.00 Operating Profit USD
Slide 16: Dividend
Dividend ■Policy: A stable and appropriate level of dividends will be maintained. ■FY3/22: We plan to pay a year-end dividend of 5 yen per share, representing an additional 2 yen from the previous forecast. Consequently, our full-year dividend will increase from 8 yen to 10 yen. ■FY3/23 (Forecast):
Slide 17: 2. Our Medium-Term Strategy
２．Our Medium-Term Strategy 17
Slide 18: A Time of Significant Change
A Time of Significant Change Changes in the world and the environment surrounding our company Values and lifestyles of our customers are also changing dramatically Need for a global perspective and diversification to respond quickly to changes in our customers’ preferences 18
Slide 19: Overseas Sales Ratio Is Steadily Increasing
Overseas Sales Ratio Is Steadily Increasing FY3/22 62.1% 52.6% 55.8% 49.7% 49.8% 50.9% FY3/17 FY3/18 FY3/19 FY3/20 FY3/21 FY3/22 Overseas Japan 19
Slide 20: New Management Structure
New Management Structure Yonex（Head Office） Advanced manufacturing technologies, global marketing and product development International Sales Division YONEX JAPAN ・Domestic sales division transferred Overseas Subsidiaries ・Delegated authority to （China, Taiwan, North America, UK, Germany） president
Slide 21: Our Medium-Term Strategy
Our Medium-Term Strategy Ongoing efforts based on our Medium-Term Management Plan announced in May 2018 ① Pursuing high quality craftsmanship that appeals to customers ② Accelerate decision making processes by delegating authority as well as promoting diversity management through human resources dev
Slide 22: Promote Diversity for Business Growth
Promote Diversity for Business Growth The age, gender and nationality of people who enjoy sports are diverse. Need to respond to diverse customers’ lifestyles and create innovation Yonex 【Work in Progress 】 Human resources development with a focus on “diversity” Leverage diverse human resources for
Slide 23: Promoting the Advancement of Women
Promoting the Advancement of Women Ratio of Women in Managerial Positions Goal As of March 2022 30％ by 2030 30.0% ■Ratio of women in managerial positions: 17.7% *Latest figure（As of April 21, 2021): 18.0% ■Ratio of women in candidates for managerial positions (section managers and chiefs): 34.7% P ■
Slide 24: Human Resources Development for Diversity Management
Human Resources Development for Diversity Management Global human Hire actively diverse employees Global perspective to expand resources in head office our business internationally Leverage diverse backgrounds to Mid-career Enhance the recruitment and grow our business and take on employees promotio
Slide 25: Global Marketing of Yonex
Global Marketing of Yonex Message Expressing and delivering the themes of Craftmanship × Innovation Increase fans of sports （Expand and develop sports） Grow the Yonex fan base On the Ground Digital (DX) ・Tournament sponsorships ・Product trials, promotion ・Digital advertising materials events ・SNS, d
Slide 26: Growth of Badminton Business in China
Growth of Badminton Business in China Top Athletes トップ選手 Competitive Players, including Juniors Increase badminton Raise excitement for fan base badminton Recreational Players Further expansion of badminton Approaching more customers 26
Slide 27: China: Product Trial Events Tour in Major Cities "YONEX SPORTS LAB"
China: Product Trial Events Tour in Major Cities “YONEX SPORTS LAB” (Oct-Dec 2021) ■13 venues in 10 cities ■ Total number of participants: 26,000 ↑Badminton Create booths where visitors can ↑ Product Displays sample our badminton, tennis and snowboard equipment ↑Tennis ↑ Photo booths 27
Slide 28: China: Utilization of Digital Tools
China: Utilization of Digital Tools ↑ Live commerce ↑ Distribution of product ↑Promotion videos featuring ↑ Post about “YONEX SPORTS LAB” information via SNS the Chinese national team
Slide 29: Making Tennis Our 2nd Pillar of Business
Making Tennis Our 2nd Pillar of Business Grass-roots sales Promotion with promotion activities Digital Tools “Global Yonex String Tour” ■Deliver product information and ▻Expanding the successful events of North America brand messages on SNS to other parts of the world ■Increase video content 29
Slide 30: Establishment of Sustainability Committee
Establishment of Sustainability Committee “Sustainability at Yonex Board of Directors (Our Vision and Principles) ▻Resolution passed in November 2019 Report and propose Sustainability Committee Chairman: President and Representative Director Members: Leaders and sub-leaders of each working group and
Slide 31: Reference Information
ove’ YONEX Reference Information
Slide 32: Net Sales (Reported Segments)
Net Sales (Reported Segments) (Million yen) FY3/18 FY3/19 FY3/20 FY3/21 FY3/22 Japan 39,606 38,742 38,119 29,009 37,515 Asia 17,681 17,231 18,835 18,276 30,968 North America 1,969 2,205 2,212 1,945 3,194 Europe 2,443 2,418 2,286 1,901 2,336 Sports Facilities 487 500 512 422 469 Total 62,188 61,097 6
Slide 33: Regional Sales by Destination
Regional Sales by Destination (Million yen) FY3/18 FY3/19 FY3/20 FY3/21 FY3/22 Japan 31,199 29,990 29,350 22,766 28,252 Overseas 30,988 31,107 32,616 28,787 46,232 Asia 24,378 24,488 26,009 23,181 38,095 North America 1,969 2,205 2,212 1,945 3,194 Europe 3,996 3,877 3,760 3,131 3,484 Others 643 536
Slide 34: Forward-looking statements and IR contact
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