Net income rose to ¥4.9 billion ($45 mm) for the fiscal year ended Mar. 31 against ¥0.7 billion last year on 2% lower revenues at ¥185.4 billion ($1,711 million) vs. ¥188.7 billion, with the top line decline entirely from an 8% drop in footwear to ¥54.2 billion ($500 mm). Apparel and equipment sales were flat at ¥56.5 billion ($521 mm) and ¥42.8 billion ($395 mm), respectively and services revenue increased 5% to ¥31.9 billion ($294 mm). Gross margin was up 310 basis points to 40.6% this year, and 40 b.p. of SG&A savings also contributed to the bottom line gains.

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