Slide 1: Financial Results 1st Half of Fiscal Year Ending March 31, 2022
Financial Results 1st Half of Fiscal Year Ending March 31, 2022 YONEX CO., LTD. (Tokyo Stock Exchange Code: 7906) November 9, 2021
Slide 2: 1H Key Performance Highlights
1H Key Performance Highlights □Net Sales Increased by 57.5％ Y/Y to JPY 34.7bn ・Sales in the Japan, Asia, and North America segments increased significantly, resulting in record-high sales for the first half of the fiscal year. - China: Significant growth in sales of badminton products - North Americ
Slide 3: Consolidated Income Statement
Consolidated Income Statement ■Sales were mostly in line with expectations, while profit exceeded our previous forecasts. ・Gross profit margin was higher than expected due to an improved sales mix. ・SGA was lower than expected due to the cancellation of events and restrictions on activities associat
Slide 4: Consolidated Balance Sheets
Consolidated Balance Sheets End FY3/22 (Million yen) End FY3/21 1H Change Asset Current Assets 34,939 41,683 +6,743 Increase in Cash and Deposits 13,271 16,777 +3,506 Inventory Work in progress and Notes and Accounts raw materials increased 11,181 11,603 +422 Receivable-Trade due to strong sales in
Slide 5: Consolidated Cash Flow
Consolidated Cash Flow (Million yen) -1,096 16,404 Investing -752 +570 activities Others Financial +4,518 activities Maintenance and update of facilities, new core system, others 13,164 Operating Repayment of loans, payment activities of dividends, others Increase of net income, others Start End FY3
Slide 6: Operating Profit Changes
Operating Profit Changes Significant Influence of Increase in Gross Profit Gross Profit (Million yen) Negative Impact Positive Impact +568 (+19.9%) +2,084 Personnel (+78.4%) Expenses 4,189 Advertising +87 +3 +7,149 Expenses (+0.1%) （+82.5%） (+16.0%) R&D Others Expenses SGA +2,744（+30.9%） -215 FY3/21
Slide 7: Reported Segment Information
Reported Segment Information (Million yen) FY3/21 1H FY3/22 1H Y/Y Net sales 12,043 18,836 +56.4％ Japan Sporting Goods Division Operating profit -1,194 1,764 ― Net sales 8,005 13,344 ＋66.7％ Asia Operating profit 1,071 2,338 +118.3％ North Net sales 923 1,451 +57.2％ America Operating profit 27 172 +52
Slide 8: Net Sales Change and Forex Impact (Reported Segments)
Net Sales Change and Forex Impact (Reported Segments) Forex (Million yen) RMB TWD USD EUR GBP Local Currency Basis Forex Impact Rate* FY3/21 1H 15.38 3.60 108.27 119.28 136.55 FY3/22 1H 16.64 3.83 107.69 129.82 149.60 *FY end of overseas subsidiaries is December (1H: Jan-Jun) 34,788 -7 -80 +71 +43 +
Slide 9: Net Sales and Operating Profit of Sporting Goods Division: Japan
Net Sales and Operating Profit of Sporting Goods Division (Reported Segments) Japan (Million yen) Net Sales（+56.4% Y/Y） ・Domestic Sales: Increased - The sales recovery in 1Q contributed significantly to the strong growth in 1H. 20,550 - Enhanced online information dissemination and implemented 18,83
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 FY3/20 FY3/21 FY3/22 1H 1H 1H (Million yen) RMB TWD 16.19 3.54 15.38 3.60 16.64 3.83 Net Sales（+66.7% Y/Y） *Jan-Jun ・China: Sales increased significantly, especially in badminton - Strengthened information
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 (Million yen) Forex FY3/20 FY3/21 FY3/22 Rate 1H 1H 1H USD 110.04 108.27 107.69 Net Sales（+57.2% Y/Y) *Jan-Jun ・Badminton: Sales fell year on year, but signs of a recovery appearing - Restrictions and closure
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 FY3/20 FY3/21 FY3/22 (Million yen) Rate 1H 1H 1H EUR 124.31 119.28 129.82 GBP 142.41 136.55 149.60 Net Sales（-1.0% Y/Y） *Jan-Jun ・Germany: Sales increased - Badminton: On a recovery trend as restrictions on in
Slide 13: Consolidated Net Sales by Sports Categories
Consolidated Net Sales by Sports Categories FY3/22 1H Sales (Million yen) Japan Y/Y Overseas Y/Y Total Y/Y Composition Badminton Sporting Goods Division Overseas sales composition: Y/Y 4,315 +1,715 +66.0% 14,987 +6,247 +71.5% 19,303 +7,962 +70.2% 55.5% (77.6%: +0.5%pt) Tennis 3,422 +1,507 +78.7% 2,3
Slide 14: Consolidated Earnings Forecasts for FY3/22
Consolidated Earnings Forecasts for FY3/22 （Upward Revision) Net Sales - Revised upward, expecting sales of badminton in China and tennis in North America to Forex FY3/21 FY3/22 FY3/22 Previous Revised remain strong in the second half. Rate Results Forecast Forecast - A cautions outlook is maintaine
Slide 15: Interim Dividend and Year-End Dividend Forecast for FY3/22
Interim Dividend and Year-End Dividend Forecast for FY3/22 ■Policy: A stable and appropriate level of dividends will be maintained. ■Interim dividend: Ordinary dividend was revised up to 3 yen per share, and an extra dividend of 1 yen per share has been added in reflection of the profit level in the
Slide 16: Growth in Asia and North America Segments
Growth in Asia and North America Segments Changes in Net Sales of 1H by Segment Asia North America 13,344 1,451 8,659 1,091 8,005 923 FY3/20 FY3/21 FY3/22 FY3/20 FY3/21 FY3/22 Strong performance of Strong performance of badminton business in China tennis business 16
Slide 17: Badminton Business in China
Badminton Business in China ・Raised excitement for badminton ・Increased attention paid to Yonex China Largest market ・Partnership with Chinese national of badminton badminton team ・Athletes’ competition wins 17
Slide 18: Promotions Leveraging National Team Players
Promotions Leveraging National Team Players Exhibition matches Introduction of their ▻Broadcasted in the media equipment on SNS Providing information at ▻Appeal our products booths set up in retail stores 18
Slide 19: Enhancing E-commerce Channels
Enhancing E-commerce Channels ■Growth in E-commerce sales ↓Live commerce ↓ The 75th Anniversary Event （Total sales of our online flagship stores and online retailers ） T-mall sales (Jan-Jun） ＋47.2％ Y/Y ■Online Flagship Stores ・Information dissemination on SNS Attract new fans ・Team Yonex athletes’ w
Slide 20: Growth of Tennis Business in North America
Growth of Tennis Business in North America Sales Composition by Sports Category FY3/22 1H（Jan-Jun 2021） Badminton The Growth Rate of Tennis Products in North America 55.5% ＋137.4% Y/Y Composition of Tennis Products 13.5％ （FY3/21 1H） 16.5% （FY3/22 1H) 20
Slide 21: Raise Recognition amongst General Players
Raise Recognition amongst General Players Targeting general players in North America Increased number of athletes using our racquet “Yonex String Tour” Changes in the usage rate of Yonex racquets among US Open finalists Women’s Singles 30% 16% 7% Men’s Singles 14% 2017 2020 2021 ◁The video of Yonex
Slide 22: Reference Information
ove’ YONEX Reference Information
Slide 23: Net Sales (Reported Segments)
Net Sales (Reported Segments) (Million yen) FY3/18 1H FY3/19 1H FY3/20 1H FY3/21 1H FY3/22 1H Japan 20,632 19,697 20,550 12,043 18,836 Asia 9,087 8,247 8,659 8,005 13,344 North America 971 1,081 1,091 923 1,451 Europe 1,200 1,225 1,179 873 864 Sports Facilities 341 333 339 247 290 Total 32,232 30,58
Slide 24: Regional Sales by Destination
Regional Sales by Destination (Million yen) FY3/18 1H FY3/19 1H FY3/20 1H FY3/21 1H FY3/22 1H Japan 16,272 15,452 15,934 9,648 14,417 Overseas 15,960 15,132 15,886 12,444 20,370 Asia 12,647 11,705 12,647 9,778 16,860 North America 971 1,081 1,091 923 1,451 Europe 2,047 2,055 1,887 1,567 1,326 Others
Slide 25: Forward-looking statements and investor relations 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