Mizuno 2011 Up

Osaka, Japan-based Mizuno Corp. said Thursday its profit for fiscal 2011 increased 10.7 percent on the back of strong running shoe sales in all regions.

For the year, net income increased to 3.1 billion yen, or $38.9 million at current exchange, from 2.8 billion yen, or $35.2 million. Golf and baseball both declined, by 3.7 percent and 1.9 percent, respectively.
Revenue grew 3.3 percent to 155 billion yen, or $1.9 billion. Overall footwear sales grew 8.3 percent, while apparel advanced 1.8 percent.

Overall sales in the Americas grew 11 percent on a currency-neutral basis. Running saw the largest increase in sales, of 19 percent, on a currency-neutral basis. This reflected successful consumer-engaging brand marketing campaigns built around the product launches of the Wave Prophecy and Wave Rider 15, the firm said.

Sales in Europe were up 4 percent currency-neutral despite the continuing debt crisis, while in Japan, sales were up 4 percent, driven by high-performance footwear for other sports, such as soccer and volleyball.

For fiscal 2012, Mizuno is forecasting revenue to improve 3.2 percent to 160 billion yen, and ordinary profit to be up 6 percent.

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