Yonex Co., Ltd. · TSE:7906
Yonex — Q1 FY3/26 Earnings Presentation
22 slides from Yonex's earnings presentation, Aug 8, 2025
Slide 1: Fiscal Year Ending March 31, 2026 Q1 Financial Results
Fiscal Year Ending March 31, 2026 Q1 Financial Results Yonex Co., Ltd. Tokyo Stock Exchange Code: 7906 August 8, 2025
Slide 2: Table of Contents
Table of Contents 1. Consolidated Financial Results for FY3/26 Q1 ・・・・・・・・・・・・ 3 2. Segment Overview ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 7 3. Forecasts for FY3/26 ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 14 4. Topics ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 15 5. Appen
Slide 3: Highlights
Highlights Net Sales Operating Profit Net Profit Attributable to owners of parent 39.8 billion yen 6.2 billion yen 4.2 billion yen YoY YoY YoY + 28.3％ + 89.1％ + 51.5％ While the global sports market remained strong, our grassroots activities, along with marketing efforts leveraging international to
Slide 4: Consolidated Income Statement
Consolidated Income Statement (Million yen) FY3/25 Q1 FY3/26 Q1 FY3/26 Forecasts* YoY Results Results Margins H1 Full Year Net Sales 31,067 39,856 ― +28.3% 75,000 148,000 （+8,788） Gross Profit 14,107 18,823 47.2％ +33.4% ― ― （+4,715） SGA 10,788 12,546 31.5％ +16.3% ― ― （+1,758） Operating Profit 3,319
Slide 5: Factors behind Operating Profit Changes
Factors behind Operating Profit Changes Gross profit increased significantly due to higher sales and improved gross profit margin. SGA increased mainly due to higher advertising expenses arising from enhanced global marketing efforts and personnel costs, especially in our Japan segment. (Million yen
Slide 6: Consolidated Balance Sheets
Consolidated Balance Sheets Inventories decreased mainly due to increased sales at our Chinese subsidiary. Property, plant and equipment and interest- bearing debt increased due to capital investments related to property acquisitions for workplace development and the new tennis factory, as well as b
Slide 7: Segment Information
Segment Information Our business consists of the Sporting Goods Division, which is divided into the four regional segments of Japan, Asia, North America, and Europe, and the Sports Facilities Division. (Million yen) FY3/26 Q1 Results Related Entities Sales Segment Composition Net Sales Operating Pro
Slide 8: Net Sales Changes and Forex Impact (Reported Segments)
Net Sales Changes and Forex Impact (Reported Segments) The impact of foreign currency translation on a consolidated basis was minimal. In the Japan segment, where USD-based exchange rates from April to June are applied to sales to overseas distributors, the yen’s appreciation negatively impacted sal
Slide 9: Japan Segment
Japan Segment YoY （Million yen） Net Sales 15,539million yen +18.3 % 15,539 12,974 13,133 In badminton, sales of racquets, strings, and shoes increased as Domestic steady demand continued. In tennis, strong sales of racquets, including Sales the new “EZONE α” series released in March, and favorable s
Slide 10: Asia Segment
Asia Segment YoY 20,421million yen +39.1 （Million yen） Net Sales % 20,421 Sales of badminton products grew on the back of continued solid demand 14,685 driven by the Chinese national team’s successes and our efforts to 11,908 China stimulate the market. Sales of tennis and other products also increa
Slide 11: North America Segment
North America Segment （Million yen） 2,185 million yen YoY +34.3 % 2,185 1,731 1,627 Sales of tennis products increased, especially racquets and strings, Net Sales supported by the enhanced brand recognition stemming from the strong performances of Team Yonex athletes at the Grand Slam tournament hel
Slide 12: Europe Segment
Europe Segment （Million yen） YoY 1,501 million yen +6.8 % 1,406 1,501 1,191 Net Sales Badminton sales grew on the back of solid demand driven by major international tournaments held in Germany and the UK, and subsequent stronger sales across a wide price range of racquets and strings. In tennis, the
Slide 13: Consolidated Net Sales by Sports Categories
Consolidated Net Sales by Sports Categories Badminton and tennis sales grew both in Japan and overseas. Golf sales decreased compared to the previous year, which benefited from the launch of new products. Sales of ‘others’ were driven by the strong sales of apparel and bags in China. （Million yen） S
Slide 14: Earnings Forecasts for FY3/26 (Unchanged)
Earnings Forecasts for FY3/26 (Unchanged) While the external environment remains a concern, we endeavor to achieve sustained growth by steadily advancing our medium- to long-term initiatives in line with our Global Growth Strategy (GGS). Assumptions Forex Rate (average) (Yen) • While the busines
Slide 15: Badminton: Sudirman Cup 2025 – China Claims Record 14th Title
Badminton: Sudirman Cup 2025 – China Claims Record 14th Title The biennial mixed team competition, Sudirman Cup, took place in China, where the host nation secured a record 14th championship title. Sudirman Cup 2025 （April 27 – May 4, Xiamen, China） Led by top-ranked athletes such as men’s singles w
Slide 16: Tennis: Yonex Becomes the Official Tennis Ball Supplier for 3 ATP Tournaments
Tennis: Yonex Becomes the Official Tennis Ball Supplier for 3 ATP Tournaments Yonex supports player performance by supplying high-performance balls produced at its own factory, while strengthening its comprehensive Head-to-Toe product offering. New Official Ball Tournaments Shanghai Masters （China
Slide 17: Craftsmanship: New Tennis Racquet Factory Completed in Niigata (June 2025)
Craftsmanship: New Tennis Racquet Factory Completed in Niigata (June 2025) A new tennis racquet factory has been completed on the same site as the existing factory, along with the Yonex Performance Innovation Center (R&D facility) in Nagaoka, Niigata. Operations at the new factory are scheduled to b
Slide 18: Appendix
fn Appendix
Slide 19: Reference: Fiscal Year End for Domestic and Overseas Businesses
Reference: Fiscal Year End for Domestic and Overseas Businesses Our Japan segment, including domestic sales and sales to overseas distributors, closes their fiscal year in March, while our overseas subsidiaries close their fiscal year in December. Period Covered in Consolidated Financial Results f
Slide 20: Net Sales by Reported Segments
Net Sales by Reported Segments (Million yen) FY3/22 Q1 FY3/23 Q1 FY3/24 Q1 FY3/25 Q1 FY3/26 Q1 Japan (Domestic sales and sales to 9,522 11,294 12,974 13,133 15,539 overseas distributors) Asia 5,524 10,056 11,908 14,685 20,421 (Subsidiaries) North America 642 1,292 1,731 1,627 2,185 (Subsidiaries) Eu
Slide 21: Net Sales by Geographic Region
Net Sales by Geographic Region (Million yen) FY3/22 Q1 FY3/23 Q1 FY3/24 Q1 FY3/25 Q1 FY3/26 Q1 Japan 7,360 8,388 8,532 9,206 10,217 Overseas 8,818 15,306 19,460 21,860 29,638 Asia 7,334 11,620 14,982 17,261 23,770 North America 642 1,292 1,731 1,627 2,212 Europe 514 1,988 2,318 2,534 2,972 Others 32
Slide 22: Disclaimer
Disclaimer 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 actua