Net loss for the fiscal year ended Mar. 31 was ¥732 million ($6.7 mm) against a profit of ¥4,209 million last year on 14% lower revenues of ¥23,787 million ($218.3 mm) down from ¥27,771 million attributed to the Covid-19 pandemic which interfered with the launch of new BERES 07 and TR 20 club models. Honma’s small North American business declined 9% to ¥1,239 million ($11.4 mm), while sales in the home Japanese market fell 24% and China was also lower, but sales in Korea jumped 14%. Gross margin tumbled 690 basis points to 50.9%, pulled down by lower club margins ... Log in to view full article.