Reached record-high consolidated sales as sales in all regional segments increased due to the
Net Sales
continued strong demand to play sports around the world.
Overseas sales increased significantly as demand was boosted by international tournaments and
our company's effective promotional activities, as well as the effect of yen depreciation.
Operating Profit
Although gross profit increased due to higher sales, operating profit decreased due to rises in SGA.
Advertising expenses for sponsorships and athlete contracts increased in foreign currency due to the resumption of the tournaments, tournament-related promotions, and the successful performance of contracted athletes. Yen depreciation also impacted the increase in expenses.
Despite higher gross profit, operating profit decreased due to the inability of the rise in gross profits to offset the increases in SGA, including advertising expenses arising from expenses for tournament sponsorships, tournament-related promotions, athlete contracts, and bonuses to athletes, as well as to the impact of yen depreciation on those expenses.
YONEX Co. Ltd. published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2023 06:18:10 UTC.
YONEX CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of sporting goods, and the operation of sports facilities. The Company operates through two business segments. The Sporting Goods segment is mainly engaged in the manufacture, purchase and sale of sporting goods, including badminton rackets, soft tennis rackets, tennis rackets, golf clubs, snowboards, shuttlecocks and strings. The Company distributes it's products within the domestic market and to overseas markets, including Americas, Europe, and Asia. The Sports Facilities segment is mainly engaged in the management and operation of golf courses, tennis driving ranges and golf driving ranges.
YONEX CO., LTD. 
