Resilient US market and recovery in the Nordic market
First written in FY2016-Q2. 8 of 37 entries say "Advanced", first in FY2016. Latest entry: 2026-09-11.
Miroku moved to the "Worse" side of this theme in 2026.
0 other companies' latest entry also says "Other".
- 2026-09-11OtherEarnings
「Orders from the Browning Group, the most important customer for our products, remained sluggish year on year, partly due to the impact of the Trump tariffs.」
Orders from the Browning Group remained sluggish, and bolt-action rifles were among the key products that performed poorly. - FY2026-H1Lower revenue and profit due to tariff impacts and weak bolt-action rifle salesAnnual report
「Orders from the Browning Group, our most important customer and OEM supply partner, were sluggish year on year partly due to the impact of the Trump tariffs. Sales volumes and revenue for the main over-and-under shotgun were roughly unchanged year on year, but the other main product, the bolt-action rifle, performed poorly, causing total revenue to decline year on year. Profit also fell year on year, despite the absence of depreciation expenses related to impairment losses on fixed assets through the end of the previous fiscal year, because raw material price increases and other factors continued to have a significant impact and the resulting cost increases could still not be fully passed on to selling prices. As a result, revenue was ¥5,096 million, down 4.2% year on year, and segment profit (operating income) was ¥125 million, down 35.4%.」
Orders from the Browning Group were sluggish due to the Trump tariffs and other factors, while bolt-action rifle sales were weak. Revenue in the hunting rifle business fell 4.2% and segment profit fell 35.4%. - FY2025-H1AdvancedAnnual report
「Sales of the core over-and-under shotguns, which had experienced production problems last year, recovered, while production of new bolt-action rifle products also stabilized, resulting in higher revenue year on year. Although the impact of higher raw material costs and other factors continued, profit increased year on year due to strong performance by high-value-added products and the absence of depreciation resulting from the impairment loss on fixed assets recognized at the end of the previous fiscal year. As a result, revenue was ¥5,318.591 million, up 16.8% year on year, and segment profit (operating profit) was ¥193.596 million, up 505.4%.」
Sales of over-and-under shotguns, which had experienced production problems the previous year, recovered, while production of new bolt-action rifle products stabilized. The sporting firearms business generated higher revenue, and segment profit increased 505.4%. - FY2024Lower revenue and profit due to production stoppages and the transition to new products despite solid ordersAnnual report
「Although orders from the Browning Group, the OEM customer supplied with our products, remained solid, the temporary production stoppage caused by manufacturing-process defects during the second quarter, the disposal of excess components associated with the transition to new products, and continuing increases in raw material costs had a significant adverse impact on revenue and profit.」
Although orders from the Browning Group remained solid, a temporary production stoppage caused by manufacturing-process defects, the disposal of excess components associated with the transition to new products, and higher raw material costs led to lower revenue and an operating loss in the sporting firearms business. - FY2024-Q2Firm orders but lower revenue and profit due to approval delays and manufacturing-process defectsAnnual report
「Orders from the Browning Group, the OEM customer supplied with our products, remained solid. Revenue declined year on year because there was no improvement in the prolonged approval process by local authorities for shipments to Europe, which had continued since the first quarter, and because defects occurred in the manufacturing process for our products during the second quarter, creating difficulties in maintaining smooth production. Profit also fell substantially below the year-earlier level due to the impact of lower revenue and higher-than-expected raw material costs. As a result, revenue was ¥4,551.716 million, down 8.3% year on year, and segment profit (operating profit) was ¥31.978 million, down 93.9%.」
Although orders from the Browning Group remained solid, prolonged approval procedures for Europe, production disruptions caused by manufacturing-process defects and higher raw material costs resulted in lower revenue for the sporting firearms business, while segment profit declined 93.9%. - FY2024-Q1Firm orders but lower revenue and profit due to shipment and production adjustmentsAnnual report
「Against the backdrop of solid personal consumption in the US market, orders from the Browning Group, the OEM customer supplied with our products, remained firm. However, revenue was affected by continued delays in shipment procedures for Europe and production adjustments accompanying the transition to new products. Profit was also significantly affected by higher depreciation resulting from capital investment for new-product development, as well as persistently high domestic prices and higher costs for imported components due to the weaker yen. As a result, revenue was ¥2,189.192 million, down 7.9% year on year, and segment profit (operating profit) was ¥99.912 million, down 64.4%.」
Although the US market and orders from the Browning Group remained solid, prolonged shipment procedures for Europe, production adjustments accompanying the transition to new products, higher depreciation resulting from capital investment, and higher costs for imported components due to rising prices and the weaker yen resulted in lower revenue and profit for the sporting firearms business. - FY2023Profit declined despite higher sporting firearms revenueAnnual report
「Against the backdrop of solid personal consumption in the US market, orders from the Browning Group, the OEM customer supplied with our products, remained firm. High-value-added over-and-under shotguns, in particular, performed well, and all models continued to be produced at full capacity. However, higher domestic prices and rising costs for overseas components due to the weaker yen had a significant impact. As a result, revenue was ¥9,823.838 million, up 4.6% year on year, while segment profit (operating profit) was ¥593.403 million, down 5.0%.」
US demand, orders from the Browning Group and full-capacity production across all models remained solid, but higher costs for overseas components caused by rising prices and the weaker yen weighed on profit, resulting in higher revenue but lower profit. - FY2023-Q3AdvancedAnnual report
「Although the US market was expected to slow as monetary tightening continued for an extended period, personal consumption remained solid and orders from the Browning Group, the OEM customer supplied with our products, continued to be firm. High-value-added over-and-under shotguns, in particular, performed well, and all models continued to be produced at full capacity. As a result, revenue was ¥7,235.557 million, up 8.6% year on year, and segment profit (operating profit) was ¥625.719 million, up 6.3%.」
Although acknowledging expectations of an economic slowdown resulting from prolonged monetary tightening in the United States, personal consumption and orders from the Browning Group remained solid, and full-capacity production continued across all models. Revenue and segment profit in the sporting firearms business exceeded the year-earlier levels. - FY2023-Q2AdvancedAnnual report
「The US market continued to recover moderately, with personal consumption and employment increasing, while orders from the Browning Group, the OEM customer supplied with our products, remained solid. High-value-added over-and-under shotguns, in particular, performed well, and all models continued to be produced at full capacity. As a result, revenue was ¥4,964.245 million, up 9.7% year on year, and segment profit (operating profit) was ¥527.460 million, up 25.6%.」
The sporting firearms business generated higher revenue and profit against the backdrop of the US market recovery, solid orders from the Browning Group, strong sales of high-value-added over-and-under shotguns and full-capacity production across all models. - FY2023-Q1AdvancedAnnual report
「Although economic indicators and other data suggested that the strong economic conditions of the past several years were gradually slowing in the US market, personal consumption remained firm, while the popularity of hunting and sport shooting amid the outdoor boom during the COVID-19 pandemic supported solid orders from the Browning Group, the OEM customer supplied with our products. High-value-added over-and-under shotguns, in particular, performed well. As a result, revenue was ¥2,376.498 million, up 14.8% year on year, and segment profit (operating profit) was ¥280.971 million, up 43.1%.」
Although acknowledging signs of a slowdown in the US economy, the sporting firearms business, including the core over-and-under shotguns, generated higher revenue and profit, supported by firm personal consumption, outdoor demand and orders from the Browning Group. - FY2022AdvancedAnnual report
「Although economic indicators and other data suggested that the strong economic conditions of the past several years were gradually slowing in the US market, personal consumption remained firm, while the popularity of hunting and sport shooting amid the outdoor boom during the COVID-19 pandemic supported solid orders from the Browning Group, the OEM customer supplied with our products. As a result, sales volume and revenue for the core over-and-under shotguns exceeded the previous fiscal year, with revenue of ¥9,393.694 million and segment profit (operating profit) of ¥624.892 million.」
Although acknowledging signs of a slowdown in the US economy, the core products of the sporting firearms business exceeded the previous fiscal year's sales volume and revenue for the full year, supported by outdoor demand and solid orders from the Browning Group. - FY2022-Q3ReframedAnnual report
「Although the US market was showing some signs of economic slowdown, orders from Browning, the OEM customer supplied with our products, remained solid, supported by the economic recovery driven by government measures and the popularity of hunting and sport shooting amid the outdoor boom during the COVID-19 pandemic. As a result, sales volume and revenue for the core over-and-under shotguns exceeded the year-earlier levels, with revenue of ¥6,663.017 million and segment profit (operating profit) of ¥588.379 million.」
Although acknowledging the economic slowdown in the US market, solid demand for hunting and sport shooting driven by the outdoor boom and firm orders from Browning supported increases in sales volume and revenue for the core product. - FY2022-Q2RestatedAnnual report
「The recovery in the US market and the growing popularity of hunting and shooting, outdoor sports with relatively low infection risk in Europe and the United States during the COVID-19 pandemic, drove sales volume and revenue for the core over-and-under shotguns above the year-earlier levels. As a result, revenue was ¥4,526.581 million and segment profit (operating profit) was ¥419.869 million.」
Sales volume and revenue for over-and-under shotguns exceeded the year-earlier levels against the backdrop of the US market recovery and the popularity of hunting and shooting in Europe and the United States. - FY2022-Q1AdvancedAnnual report
「Although economic recovery in the European market remained weak amid the rapid spread of the Omicron variant of COVID-19, sales volume and revenue for the core over-and-under shotguns and bolt-action rifles exceeded the year-earlier levels as the US market recovered alongside the economic recovery driven by government measures. As a result, revenue was ¥2,070.552 million and segment profit (operating profit) was ¥196.413 million.」
Although recovery in the European market remained weak, sales volume and revenue for core sporting firearms exceeded the year-earlier levels against the backdrop of recovery in the US market. - FY2021Profit declined despite higher sporting firearms revenueAnnual report
「Although revenue and sales volume for the core products, over-and-under shotguns and bolt-action rifles, were slightly higher than in the previous fiscal year amid increased demand for hunting and shooting driven by the outdoor boom, particularly in Europe and the United States, profit was below the previous fiscal year. This reflected a lower proportion of high-value-added models among the over-and-under shotguns and the increased depreciation burden from the previous fiscal year. As a result, revenue was ¥7,836.886 million, up 5.9% year on year, and segment profit (operating profit) was ¥312.124 million, down 20.0%.」
The sporting firearms business generated higher revenue against the backdrop of the outdoor boom in Europe and the United States, but profit declined due to the lower proportion of high-value-added models and the increased depreciation burden. - FY2021-Q3Mixed performance among core products drives higher revenue but sharply lower profitAnnual report
「Although sales volume and revenue for over-and-under shotguns, a core product, were below the year-earlier levels, sales volume and revenue for the other core product, bolt-action rifles, exceeded the year-earlier levels, resulting in a slight increase in total revenue. Profit declined substantially year on year due to lower sales of high-value-added over-and-under shotguns, higher material costs and the increased depreciation burden from the previous fiscal year. As a result, revenue was ¥5,983.741 million, up 1.4% year on year, and segment profit (operating profit) was ¥244.072 million, down 49.1%.」
Higher sales of bolt-action rifles offset lower sales of over-and-under shotguns, resulting in higher revenue for the sporting firearms business. However, lower sales of high-value-added products, higher material costs and the increased depreciation burden led to a 49.1% decline in segment profit. - FY2021-Q2Lower revenue and sharply lower profit due to mixed performance among flagship productsAnnual report
「Sales volume and revenue for the flagship bolt-action rifles exceeded the levels of the same period a year earlier, but sales volume and revenue for the other flagship product, over-and-under shotguns, fell below those levels, causing overall revenue to decline slightly. Profit fell significantly below the level of the same period a year earlier due to the decline in high-value-added over-and-under shotguns, higher depreciation expenses carried over from the previous fiscal year, and increased costs for developing new products. As a result, revenue was ¥4,010.751 million, down 0.6% year on year, and segment profit (operating profit) was ¥190.641 million, down 49.1%.」
Sales of bolt-action rifles increased, while sales of over-and-under shotguns declined, resulting in lower revenue for the sporting firearms business overall. The higher depreciation burden and increased new-product development costs also contributed to a 49.1% decline in segment profit. - FY2021-Q1Sharp profit decline despite higher hunting firearms revenueAnnual report
「The European market showed a weak recovery due to extended periods of movement restrictions related to COVID-19, while the US market recovered as a result of economic stimulus measures. Sales volume and revenue were approximately in line with the level of the same period a year earlier as the US market recovered. Profit fell significantly below that level due to higher depreciation expenses carried over from the previous fiscal year and weak sales of high-value-added products. As a result, revenue was ¥1,997.399 million, up 1.3% year on year, and segment profit (operating profit) was ¥80.543 million, down 55.4%.」
While the European market's recovery remained weak, the US market recovered. Sales volume and revenue were approximately flat or slightly higher year on year, but profit declined significantly due to higher depreciation expenses and weak sales of high-value-added products. - FY2020Lower revenue and profit in hunting firearms due to the impact of COVID-19Annual report
「Sales volume and revenue for bolt-action rifles slightly exceeded the previous fiscal year's levels, but sales volume and revenue for over-and-under shotguns fell significantly due to temporary shooting-range closures and the cancellation of competitions caused by the spread of COVID-19. As a result, revenue was ¥7,403.560 million, down 9.3% year on year, and segment profit (operating profit) was ¥390.165 million, down 44.0%.」
Although bolt-action rifle sales increased, sales of over-and-under shotguns fell significantly due to shooting-range closures and the cancellation of competitions, resulting in lower revenue and profit in the hunting firearms business. - FY2020-Q3Lower revenue and profit in hunting firearms due to the impact of COVID-19Annual report
「Sales volume of bolt-action rifles exceeded the level of the same period a year earlier, but sales volume of over-and-under shotguns fell below that level due to cancellations resulting from the spread of COVID-19. In particular, sales of high-value-added over-and-under shotguns did not grow, causing both revenue and profit to fall below the levels of the same period a year earlier. As a result, revenue was ¥5,902.733 million, down 2.5% year on year, and segment profit (operating profit) was ¥479.384 million, down 28.3%.」
Although bolt-action rifle sales increased, cancellations of over-and-under shotguns due to the spread of COVID-19 and weak sales of high-value-added products resulted in lower revenue and profit in the hunting firearms business. - FY2020-Q2Profit continued to decline despite higher revenueAnnual report
「Revenue for the hunting firearms business as a whole exceeded the level of the same period a year earlier, but profit fell below that level as costs for expanding production capacity and developing new products continued to rise. As a result, revenue was ¥4,034.419 million, up 4.9% year on year, and segment profit (operating profit) was ¥374.694 million, down 12.5%.」
The hunting firearms business maintained revenue growth, but segment profit fell below the level of the same period a year earlier due to higher costs for expanding production capacity and developing new products. - FY2020-Q1Lower profit despite higher revenue in the hunting firearms businessAnnual report
「Although sales volume of the flagship over-and-under shotguns declined from the same period a year earlier, revenue exceeded the previous year's level due to an increase in sales volume of bolt-action rifles. Profit fell below the previous year's level due to the decline in high-value-added over-and-under shotguns and higher costs for expanding production capacity and developing new products. As a result, revenue was ¥1,971.339 million, up 2.9% year on year, and segment profit (operating profit) was ¥180.727 million, down 23.0%.」
Although revenue increased due to higher bolt-action rifle sales, segment profit declined because of lower sales of high-value-added over-and-under shotguns and higher costs for expanding production capacity and developing new products. - FY2019-Q3AdvancedAnnual report
「Sales volume of the high-value-added over-and-under shotguns and bolt-action rifles significantly exceeded the level of the same period a year earlier, and improvements in production efficiency lifted both revenue and profit above the previous year's levels. As a result, revenue was ¥6,051.407 million, up 5.4% year on year, and segment profit (operating profit) was ¥668.192 million, up 20.9%.」
Sales of the high-value-added flagship hunting firearms significantly exceeded the level of the same period a year earlier, while improved production efficiency also contributed to higher revenue and segment profit. - FY2019-Q2Flagship products remained strong, but overall revenue declinedAnnual report
「Sales volume of the flagship over-and-under shotguns and bolt-action rifles continued to remain strong, particularly in the US market, but overall revenue was slightly below the level of the same period a year earlier due to a decline in sales of other firearms. Profit increased slightly year on year as sales of high-value-added products remained stable. As a result, revenue was ¥3,845.544 million, down 1.6% year on year, and segment profit (operating profit) was ¥428.370 million, up 1.9%.」
Although sales volume of the flagship hunting firearms remained strong, particularly in the US market, the hunting firearms business recorded lower revenue due to a decline in sales of other firearms. Sales of high-value-added products remained stable, and segment profit increased slightly. - FY2019-Q1RestatedAnnual report
「Sales volume of the flagship over-and-under shotguns and bolt-action rifles remained at the same level as the same period a year earlier due to resilient purchasing demand in the US, while sales volume of other firearms was slightly lower. Profit was affected by a decline in sales of high-value-added products due to issues including the UK's withdrawal from the EU. As a result, revenue was ¥1,916.257 million, down 5.4% year on year, and segment profit (operating profit) was ¥234.843 million, down 9.6%.」
Although demand for the flagship products in the US remained strong, sales of high-value-added products declined due to issues including the UK's withdrawal from the EU, resulting in lower revenue and profit in the hunting firearms business. - FY2018Lower revenue and profit in the hunting firearms business due to weakness in the European marketAnnual report
「Purchasing demand in the US market increased as the economy recovered, and sales of the flagship over-and-under shotguns and bolt-action rifles remained strong. However, sales in the European market were weak, partly due to the approaching UK's withdrawal from the EU, causing revenue and profit to fall below the previous fiscal year. As a result, revenue was ¥7,505.731 million, down 4.7% year on year, and segment profit (operating profit) was ¥578.860 million, down 18.7%.」
Although the US market remained strong, weakness in the European market caused the hunting firearms business to post lower revenue and profit for the full fiscal year. - FY2018-Q3RestatedAnnual report
「Sales of the flagship over-and-under shotguns and bolt-action rifles continued to perform well in the US market, but sales in the European market were sluggish due to the impact of issues including the UK's withdrawal from the EU, causing revenue and profit to fall below the levels of the same period a year earlier.」
While sales of the flagship hunting firearms remained strong in the US market, sales in the European market were weak due to the impact of issues including the UK's withdrawal from the EU, and revenue and profit continued to fall below the levels of the same period a year earlier. - FY2018-Q2European market slowdownAnnual report
「The U.S. market remained resilient, but sales in Europe were sluggish due in part to the impact of Brexit, and unit sales of over-and-under shotguns and bolt-action rifles fell below the year-earlier level. As a result, revenue was ¥3,907 million, down 4.1% year on year, and segment profit (operating income) was ¥420 million, down 6.4%.」
The U.S. market remained resilient, while sluggish European sales due to Brexit and other factors caused unit sales, revenue and segment profit for the main hunting rifle products to fall below the year-earlier levels. - FY2018-Q1RestatedAnnual report
「However, revenue and profit both exceeded the levels of the same period a year earlier because sales of high-value-added products continued to perform well and products scheduled for shipment at the end of the previous fiscal year were carried over into the current period due to poor weather.」
Although the market itself was not mentioned, sales of high-value-added products in the hunting firearms business continued to perform well, and revenue and profit exceeded the levels of the same period a year earlier. - FY2017-Q3RestatedAnnual report
「Sales of the flagship over-and-under shotguns and bolt-action rifles continued to perform well in the European and US markets」
The explanation that sales of the flagship hunting firearms continued to perform well in the European and US markets was reiterated. - FY2017-Q2RestatedAnnual report
「Sales of the flagship over-and-under shotguns and bolt-action rifles continued to perform well in the European and US markets. With no delays in the arrival of test ammunition, which had occurred in the first half of the previous year, smooth production enabled sales volume to exceed the level of the same period a year earlier.」
Sales of the flagship hunting firearms continued to perform well in the European and US markets, and sales volume exceeded the level of the same period a year earlier with no delays in the arrival of test ammunition. - FY2017-Q1Widening increases in revenue and profit in the hunting firearms businessAnnual report
「Sales of the flagship over-and-under shotguns and bolt-action rifles performed well, and sales volume exceeded the level of the same period a year earlier as production was increased. Profit also significantly exceeded the level of the same period a year earlier, as there were no delays in the arrival of test ammunition, which had occurred in the first half of the previous year, and sales of high-value-added products proceeded smoothly. As a result, revenue was ¥1,952.882 million, up 17.2% year on year, and segment profit (operating profit) was ¥224.500 million, up 93.2%.」
Sales volume of the flagship hunting firearms exceeded the level of the same period a year earlier, with revenue up 17.2% and segment profit up 93.2%. - FY2016AdvancedAnnual report
「As the core European and US markets remained strong, demand for hunting firearms was resilient and expanded. Sales of high-value-added flagship products, particularly over-and-under shotguns and bolt-action rifles, performed well, and sales volume exceeded the previous fiscal year. As a result, revenue was ¥7,534.138 million, up 5.0% year on year, and segment profit (operating profit) was ¥650.798 million, up 20.4%.」
The strength of the European and US markets led to expanded demand and higher sales volume, with revenue and segment profit in the hunting firearms business exceeding the previous year. - FY2016-Q3RestatedAnnual report
「In addition to the strength of the major European and US markets, delays in the arrival of test ammunition gradually improved, and sales volume of the high-value-added flagship products, over-and-under shotguns and bolt-action rifles, increased from the same period a year earlier. As a result, revenue was ¥5,688.836 million, up 7.0% year on year, and segment profit (operating profit) was ¥504.693 million, up 6.3%.」
Against the backdrop of strong European and US markets, sales volume, revenue, and segment profit for the flagship hunting firearms exceeded the levels of the same period a year earlier. - FY2016-Q2First statedAnnual report
「In addition to the resilience of the US market, the recovering Nordic market lifted unit sales above the year-earlier level. As a result, revenue was ¥3,669 million, up 10.4% year on year, and segment profit (operating income) was ¥313 million, up 8.0%.」
In the hunting-gun business, resilient demand in the U.S. market and the recovery in the Nordic market drove unit sales, revenue and segment profit above the prior-year level.