Mizuno Golf, Running Pace North American Gains
Comprehensive net income jumped 135% to ¥904 million ($8.2 mm) from ¥384 million in the fiscal first quarter ended Jun. 30 on a top line that inched down 1% to ¥42,155 million ($383.6 mm) from ¥42,750 million despite a double-digit improvement in North America. Excluding comprehensive items, net income was up 64% to ¥1,308 million from ¥796 million. Better golf equipment and running shoe sales were credited with driving a 12% sales increase here to ¥5.7 billion ($52 mm) though the strengthening dollar certainly helped. The focus on cleaning up U.S. distribution paid off with better margins driving a 92% ... Log in to view full article.