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Revenue down by 13.0% at Mizuno

Feb 19, 2021 Japan
Revenue down by 13.0% at Mizuno
The Osaka-based sportswear company reported revenue down by 13.0% in the first nine months of the current fiscal year. Sales decreased significantly in all regions due to the COVID-19 pandemic
In the first nine months of the year, period ended in December 2020, sales declined by 13.0% to 106.7 billion Japanese yen. Operating profit went down by 67.0% to 1.4 billion Japanese yen from 4.4 billion Japanese yen while net income declined by 39.6% to 1.9 billion Japanese yen from 3.2 billion Japanese yen.

By region in the nine months, sales in Japan fell by 12.5% to 72.6 billion Japanese yen from 83.0 billion Japanese yen. In the Americas, sales reached 13.7 Japanese yen against 15.2 billion Japanese yen, a decline of 9.9%. EMEA’s sales were down by 11.4% to 10.1 billion Japanese yen from 11.4 billion Japanese yen. Asia & Oceania sales dropped by 21.4% to 10.3 billion Japanese yen from 13.1 billion Japanese yen.

Revenue from the footwear segment has reached 29.2 billion Japanese yens, down by 20% from similar period in 2019. Apparel managed to get a light hit, and revenue in this segment only declined by 3% to 34.7 billion Japanese yen.

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