Net sales increased 9.9 per cent year on year (YoY) to ¥139.09 billion (~$871.96 million, as per conversion rate of $1 = ¥159.5138 as on November 12, 2026) in the six months ended September 30, 2026, the first half of fiscal 2027 (FY27). Operating profit rose 22.1 per cent to ¥14.66 billion (~$91.90 million), while ordinary profit grew 20 per cent to ¥15.27 billion (~$95.73 million) and profit attributable to owners of the parent increased 8.4 per cent to ¥10.71 billion (~$67.14 million).
Europe and Americas deliver strongest sales growth
Japan remained Mizuno’s largest market, where sales rose 4.2 per cent to ¥76.58 billion (~$480.08 million) and segment profit increased 13.8 per cent to ¥8.23 billion (~$51.59 million). Football, Golf, Sportstyle footwear and Work Business products drove the domestic performance.
European sales rose 27 per cent to a record ¥17.92 billion (~$112.34 million), while segment profit more than tripled, rising 212.9 per cent to ¥1 billion (~$6.27 million). Running, Golf and Sportstyle footwear performed strongly in the region.
In the Americas, sales grew 18.4 per cent to ¥24.66 billion (~$154.59 million), with segment profit up 36.8 per cent to ¥3.20 billion (~$20.06 million). Golf remained the core contributor, complemented by growth in Baseball and Running. Tariff-related costs of around ¥1 billion (~$6.27 million) were partly offset by tariff refunds of approximately ¥800 million (~$5.02 million), resulting in a net gross-profit reduction of about ¥200 million (~$1.25 million).
Sales in Asia and Oceania increased 10 per cent to a record ¥19.93 billion (~$124.94 million), supported by Running, Football, Indoor and Sportstyle footwear. However, segment profit declined 8.3 per cent to ¥1.94 billion (~$12.16 million), as Golf sales weakened amid a stagnant South Korean market.
Margins, cash generation and balance sheet strengthen
Japanese sporting goods company Mizuno Corporation reported record first-half FY27 results, with net sales rising 9.9 per cent to ~$871.96 million and operating profit increasing 22.1 per cent.
Growth was driven by strong demand for Football, Golf, Running and Sportstyle products, particularly in Europe and the Americas.
The company maintained its full-year forecast, targeting 8.1 per cent sales growth.
Gross profit rose to ¥60.24 billion (~$377.65 million) from ¥52.76 billion (~$330.76 million) a year earlier, lifting the gross margin to 43.3 per cent from 41.7 per cent. Operating margin improved to 10.5 per cent from 9.5 per cent.
Basic earnings per share increased to ¥140.79 (~$0.88) from ¥128.68 (~$0.81). Comprehensive income rose 47.5 per cent to ¥12.52 billion (~$78.49 million).
Net cash generated from operating activities increased to ¥13.98 billion (~$87.64 million), while investment outflows were ¥3.28 billion (~$20.56 million), including ¥1.81 billion (~$11.35 million) spent on property, plant and equipment. Cash and deposits at period-end stood at ¥53.71 billion (~$336.71 million).
Total assets increased to ¥257.56 billion (~$1.61 billion) as of September 30, 2026, from ¥251.47 billion (~$1.58 billion) at the end of FY26. Net assets rose to ¥184.33 billion (~$1.16 billion), while total liabilities declined to ¥73.23 billion (~$459.08 million). The equity ratio improved to 71.2 per cent from 68.9 per cent.
Mizuno retains FY27 targets
Mizuno maintained its FY27 forecast for net sales of ¥280 billion (~$1.76 billion), representing growth of 8.1 per cent.
It continues to expect operating profit of ¥25.50 billion (~$159.86 million), ordinary profit of ¥26.50 billion (~$166.13 million), and profit attributable to owners of the parent of ¥19 billion (~$119.11 million), with earnings per share projected at ¥249.86 (~$1.57).
Fibre2Fashion News Desk (CG)
