Worth reading
56In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
5611
¥ million (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationFirst quarter of the fiscal year ending March 20276 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥45,468 million+14.1%
Operating profit¥6,867 million+9.4%
Ordinary income¥7,096 million+19.2%
Net income¥5,590 million+31.9%
Gross Profit Margin45.9 %
Operating profit margin15.1 %
Selling, general and administrative expenses¥14,021 million
Results for the three months of the current quarterFor the first quarter alone: net sales of ¥45,468 million, operating profit of ¥6,867 million, ordinary profit of ¥7,096 million, and net income attributable to owners of the parent of ¥5,590 million.
Full-year earnings forecast
Net Sales
¥181,000 million
Operating profit
¥18,900 million
Ordinary income
¥19,100 million
Profit attributable to owners of the parent
¥14,200 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress is ahead of the forecast announced in MayBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Increase in gross profit from higher revenue¥2,650 million
- Decline in gross margin¥-584 million
- Increase in personnel expenses¥-466 million
- Increase in Advertising Expenses¥-592 million
- Decrease in R&D expenses¥23 million
- Increase in other SG&A expenses¥-438 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- ¥23AssumptionsAverage exchange rate during the period: RMB 1
- ¥4.9AssumptionsAverage exchange rate during the period: TWD 1
- ¥155AssumptionsAverage exchange rate during the period: USD 1
- ¥180AssumptionsAverage exchange rate during the period: EUR 1
- ¥210AssumptionsAverage exchange rate during the period: GBP 1
- ContinuingAssumptionsStrategic investment based on the global growth strategy
New initiatives
- Launch of the new MUSE tennis racket seriesDetailsLaunched in April 2026. A capsule collection including rackets, bags, strings and shoes will also be offered.
Key KPIsA metric the company considers important as a management benchmark.
- Overseas revenue ratio77.1 %Year on year against the same period last year+2.7%
- Percentage of teams advancing to the knockout stage of the Thomas & Uber Cup wearing apparel from Team Yonex75 %
- Number of Wimbledon championship events won by Team Yonex5 Events
- Number of Team Yonex players reaching the women’s singles round of 169 People
- Number of 2026 Grand Slam tournaments won by Team Yonex in women’s singles2 Tournament
Segment results
- JapanNet Sales¥17,481 million (YoY +12.5%)Operating profit¥2,248 million (YoY +19.9%)
- AsiaNet Sales¥23,714 million (YoY +16.1%)Operating profit¥4,098 million (YoY +17.0%)
- North AmericaNet Sales¥2,215 million (YoY +1.4%)Operating profit¥9 million (YoY -96.6%)
- EuropeNet Sales¥1,851 million (YoY +23.3%)Operating profit¥224 million (YoY +161.4%)
- Sports Facilities BusinessNet Sales¥205 million (YoY -1.3%)Operating profit¥41 million
| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥45,468 million (YoY +14.1%) |
| Operating profit | ¥6,867 million (YoY +9.4%) |
| Ordinary income | ¥7,096 million (YoY +19.2%) |
| Net income | ¥5,590 million (YoY +31.9%) |
| Gross Profit Margin | 45.9 % |
| Operating profit margin | 15.1 % |
| Selling, general and administrative expenses | ¥14,021 million |
| Results for the three months of the current quarter | For the first quarter alone: net sales of ¥45,468 million, operating profit of ¥6,867 million, ordinary profit of ¥7,096 million, and net income attributable to owners of the parent of ¥5,590 million. |
| Full-year earnings forecast | Net Sales ¥181,000 million / Operating profit ¥18,900 million / Ordinary income ¥19,100 million / Profit attributable to owners of the parent ¥14,200 million |
| Self-assessment against the plan | Progress is ahead of the forecast announced in May |
| Segment results | Segment Japan / Net Sales ¥17,481 million (YoY +12.5%) / Operating profit ¥2,248 million (YoY +19.9%), Segment Asia / Net Sales ¥23,714 million (YoY +16.1%) / Operating profit ¥4,098 million (YoY +17.0%), Segment North America / Net Sales ¥2,215 million (YoY +1.4%) / Operating profit ¥9 million (YoY -96.6%), Segment Europe / Net Sales ¥1,851 million (YoY +23.3%) / Operating profit ¥224 million (YoY +161.4%), Segment Sports Facilities Business / Net Sales ¥205 million (YoY -1.3%) / Operating profit ¥41 million |
| Breakdown of Factors Affecting the Change | Factors Increase in gross profit from higher revenue / Amount ¥2,650 million, Factors Decline in gross margin / Amount ¥-584 million, Factors Increase in personnel expenses / Amount ¥-466 million, Factors Increase in Advertising Expenses / Amount ¥-592 million, Factors Decrease in R&D expenses / Amount ¥23 million, Factors Increase in other SG&A expenses / Amount ¥-438 million |
| Key KPIs | Indicator name Overseas revenue ratio / Value 77.1 % / Year on year against the same period last year 2.7 %, Indicator name Percentage of teams advancing to the knockout stage of the Thomas & Uber Cup wearing apparel from Team Yonex / Value 75 % / Year on year against the same period last year Not disclosed, Indicator name Number of Wimbledon championship events won by Team Yonex / Value 5 Events / Year on year against the same period last year Not disclosed, Indicator name Number of Team Yonex players reaching the women’s singles round of 16 / Value 9 People / Year on year against the same period last year Not disclosed, Indicator name Number of 2026 Grand Slam tournaments won by Team Yonex in women’s singles / Value 2 Tournament / Year on year against the same period last year Not disclosed |
| Assumptions Underlying the Business Outlook | Assumptions Average exchange rate during the period: RMB 1 / Value ¥23, Assumptions Average exchange rate during the period: TWD 1 / Value ¥4.9, Assumptions Average exchange rate during the period: USD 1 / Value ¥155, Assumptions Average exchange rate during the period: EUR 1 / Value ¥180, Assumptions Average exchange rate during the period: GBP 1 / Value ¥210, Assumptions Strategic investment based on the global growth strategy / Value Continuing |
| New initiatives | Measures Launch of the new MUSE tennis racket series / Details Launched in April 2026. A capsule collection including rackets, bags, strings and shoes will also be offered. |
Items this document does not state (14)
Progress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Net sales increased due to greater attention to the Company’s products following strong performances by contracted athletes at international tournaments, higher sales of badminton and tennis equipment, and the positive foreign exchange translation effect of the weaker yen. Although selling, general and administrative expenses, including advertising and promotion expenses and personnel expenses, increased, the increase in gross profit accompanying higher net sales more than offset them, resulting in higher operating profit. The full-year forecast was revised upward because sales to overseas distributors in the Japan segment exceeded expectations and SG&A expenses were kept below plan in light of uncertainty surrounding the situation in the Middle East, among other factors.
How to read this page
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