Yonex Co., Ltd. · TSE:7906
Yonex — FY3/26 Q1-3 Earnings Presentation
22 slides from Yonex's earnings presentation, Feb 10, 2026
Slide 1: Fiscal Year Ending March 31, 2026 Q1-3 Financial Results
Fiscal Year Ending March 31, 2026 Q1-3 Financial Results Yonex Co., Ltd. Tokyo Stock Exchange Code: 7906 February 10, 2026
Slide 2: Table of Contents
Table of Contents 1. Consolidated Financial Results for FY3/26 Q1-3 ・・・・・・・・・・ 3 2. Segment Overview ・・・・・・・・・・・・・・・・・・・・・・・・・・ 7 3. Forecasts for FY3/26 ・・・・・・・・・・・・・・・・・・・・・・・・・・ 14 4. Topics ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 15 5. Appendix ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 18 © 2026 YONEX Co., Lt
Slide 3: Highlights
Highlights Net Sales Operating Profit Net Profit Attributable to owners of parent 120.4 billion yen 12.9 billion yen 9.6 billion yen YoY YoY YoY +18.4％ +13.5％ +3.9％ ⚫ Amid a strong global sports market, we focused on communication and marketing activities leveraging the achievements of Team Yonex at
Slide 4: Consolidated Income Statement
Consolidated Income Statement (Million yen) FY3/25 Q1-3 FY3/26 Q1-3 FY3/26 YoY Results Forecasts* Results Margins Net Sales 101,758 120,474 ― +18.4% 162,000 (+18,715) Gross Profit 46,522 53,308 44.2％ +14.6% ― (+6,786) SGA 35,131 40,376 33.5％ +14.9% ― (+5,245) Operating Profit 11,391 12,932 10.7％ +13
Slide 5: Factors behind Operating Profit Changes
Factors behind Operating Profit Changes Despite a decline in gross profit margin, gross profit increased due to higher sales. SGA expenses increased, mainly reflecting higher advertising expenses related to marketing activities aimed at enhancing brand recognition, as well as increased personnel exp
Slide 6: Consolidated Balance Sheets
Consolidated Balance Sheets Property, plant and equipment and interest-bearing debt increased due to capital investments related to property acquisitions for workplace development and a new tennis racquet factory, as well as loans for these investments. ⚫ Assets ⚫ Liabilities (Million yen) End FY3/2
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 Q1-3 Results Related Entities Sales Segment Composition Net Sales Operating P
Slide 8: Net Sales Changes and Forex Impact (Reported Segments)
Net Sales Changes and Forex Impact (Reported Segments) Despite negative foreign exchange translation effects from yen appreciation in certain currencies, strong sales growth resulted in higher net sales. ⚫ Forex Rate 1RMB 1TWD 1USD 1EUR 1GBP FY3/25 Q1-3 （Jan-Sep） 20.97 yen 4.71 yen 151.28 yen 164.39
Slide 9: Japan Segment
Japan Segment (Million yen) YoY 46,153 Net Sales 46,153 million yen +10.4 % 37,545 41,819 In badminton, demand remained solid, with increased sales of racquets across a wide range of price points, while sales of other products, including bags and Domestic apparel, also remained steady, contributing
Slide 10: Asia Segment
Asia Segment (Million yen) YoY 63,478 Net Sales 63,478 million yen +25.7 % 50,502 The badminton market remained solid, with continued grassroots promotional 39,290 activities and enhanced “Head to Toe” proposals. Sales increased across a wide China range of badminton products, while sales of apparel
Slide 11: North America Segment
North America Segment (Million yen) 5,804 YoY 5,804 million yen +19.8 % 4,506 4,843 Net Sales In tennis, sales remained steady, led by racquets and strings. In badminton, sales of racquets and strings increased, supported by continued sporting activities. In addition, sales of other products, mainly
Slide 12: Europe Segment
Europe Segment (Million yen) 4,544 YoY 4,097 4,544 million yen +10.9 % 3,370 Net Sales Brand recognition improved, supported by the achievements of Team Yonex athletes, leading to increased sales of tennis products, mainly racquets. In badminton, demand remained solid amid continued interest in the
Slide 13: Consolidated Net Sales by Sports Categories
Consolidated Net Sales by Sports Categories Badminton sales increased both domestically and overseas amid continued sports market activity. Tennis sales also rose domestically and overseas, supported by improved brand recognition driven by the achievements of Team Yonex athletes. In the Others categ
Slide 14: Earnings Forecasts for FY3/26
Earnings Forecasts for FY3/26 We maintain our revised earnings forecasts announced in November 2025. With the sports market expected to remain solid, we will increase our investment aimed at expanding the Yonex fan base. ⚫ Assumptions ⚫ Forex Rate （average） （yen） FY3/25 Results FY3/26 Forecasts* ・ T
Slide 15: Badminton / Tennis – Season-Ending Finals Highlights
Badminton / Tennis – Season-Ending Finals Highlights At the season-ending finals - where only the top eight players or pairs in the annual rankings qualify - Team Yonex athletes delivered outstanding performances across both badminton and tennis. Badminton BWF World Tour Finals ⚫ Team Yonex athletes
Slide 16: Tennis: New VCORE Racquet Launched
Tennis: New VCORE Racquet Launched The 8th generation of the VCORE series launched in January 2026: Designed to deliver signature spin performance “SPIN ACCESS GRANTED” - enabling every player to experience exceptional spin New grommet structure for enhanced snapback More stable spin with an expande
Slide 17: Tennis: Australian Open 2026, Achievements of Team Yonex
Tennis: Australian Open 2026, Achievements of Team Yonex Elena Rybakina captured her first Australian Open title, as Team Yonex athletes claimed 8 of the 19 events. Wheelchair Women's Women's Singles Winner Women’s Doubles Winner Singles and Doubles Winner Elena Rybakina Elise Mertens (BEL) Xiaohui
Slide 18: Appendix
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 Q1-3 FY3/23 Q1-3 FY3/24 Q1-3 FY3/25 Q1-3 FY3/26 Q1-3 Japan (Domestic sales and sales to 27,307 35,640 37,545 41,819 46,153 overseas distributors) Asia 22,177 36,940 39,290 50,502 63,478 (Subsidiaries) North America 2,444 3,874 4,506 4,843 5,804 (Su
Slide 21: Net Sales by Geographic Region
Net Sales by Geographic Region (Million yen) FY3/22 Q1-3 FY3/23 Q1-3 FY3/24 Q1-3 FY3/25 Q1-3 FY3/26 Q1-3 Japan 20,447 24,045 24,554 26,982 29,605 Overseas 33,528 55,587 60,617 74,776 90,869 Asia 27,529 43,839 48,054 60,125 73,705 North America 2,444 3,874 4,506 4,843 5,832 Europe 2,455 6,366 6,734 8
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