Net loss was ¥1,279 million ($11.9 mm) in the fiscal first quarter ended June 30, lapping a barely breakeven quarter last year, on revenues that tumbled 44% to ¥8,200 million ($76.3 mm) from ¥14,691 million. Gross margin was 900 basis points lower at 32.5% due to lower fixed costs absorption at its factories. Operating expenses were slashed by 32% on reduced advertising expenses as tournaments were cancelled. North American sales actually improved 15% ... Log in to view full article.