Revenue Growth - For the six months ended September 30, 2022, the company's revenue increased by 25.7% compared to the same period in 2021[7]. - Revenue from Japan increased by 3.4%, while Korea saw a significant growth of 97.1% year-on-year due to the rising number of golf participants and successful new product launches[7]. - Revenue from China, North America, and other regions recorded strong growth rates of 11.1%, 31.6%, and 41.2% respectively[7]. - Japan, Korea, and China contributed 81.9% of the company's total revenue[7]. - Total revenue increased by 25.7% from ¥11,871.9 million to ¥14,927.4 million for the six months ending September 30, 2022[37]. - Revenue from Japan increased by 3.4% to ¥3,951.6 million, while revenue from South Korea surged by 97.1% to ¥4,237.6 million[44]. - Revenue from China (including Hong Kong and Macau) rose by 11.1% to ¥4,028.4 million, although it decreased by 4.3% on a constant currency basis due to government lockdowns[44]. - North American revenue increased by 31.6% to ¥565.1 million, with a 9.9% increase on a constant currency basis[45]. - Revenue from self-operated stores was ¥4,566.9 million, a 29.9% increase from ¥3,516.1 million, driven by optimized retail operations[47]. - Revenue from third-party retailers and wholesalers rose by 24.0% to ¥10,360.5 million, attributed to strong demand[47]. Product Performance - Golf club sales increased by 31.2% for the six months ended September 30, 2022, demonstrating strong brand value and resilience since 1959[9]. - Revenue from the BERES and TOUR WORLD product families grew by 37.1% and 17.1% respectively compared to the same period last year[9]. - Golf clubs accounted for 76.6% of total revenue for the six months ended September 30, 2022, with Japan showing a robust growth of 20.3% year-on-year[10]. - The company aims to enrich its TOUR WORLD product family with technology-enhanced series and modern designs to attract contemporary golfers[6]. - The company has launched new product families, including the GS series and TW757 series, aimed at attracting younger, performance-focused golfers[24]. Market Strategy - The company is focusing on two market segments: ultra-high-end and ultra-performance, to simplify and strengthen its product portfolio[6]. - The company has redefined its brand to appeal to younger golfers, enhancing its global brand positioning and communication strategies[8]. - The company aims to enhance its growth strategy in North America and Europe, focusing on smaller, high-quality customer segments[11]. - The company is focusing on sustainable growth in North America and Europe, which account for nearly 70% of the global golf market, by targeting high-quality customer segments[27]. - The company has established a strategic partnership with Itochu Corporation to develop its apparel business, promoting HONMA as a "golf lifestyle brand" in Japan, China, and Korea[28]. Financial Performance - Operating profit increased by 37.5% from ¥1,590.3 million to ¥2,187.5 million[36]. - Net profit attributable to equity holders increased by 129.0% from ¥1,348.4 million to ¥3,087.4 million[36]. - Basic and diluted earnings per share rose by 128.7% from ¥2.23 to ¥5.10[36]. - Gross profit margin decreased from 55.3% to 52.7%, while total sales cost increased by 33.0%[36]. - The company attributes stable revenue growth to ongoing improvements in product development, merchandise planning, and retail operations[41]. Operational Efficiency - The company closed 378 sales points in Europe, reducing the total to 237, while opening eight new sales points in North America, resulting in a network of 345 locations[11]. - The average order value exceeded $1,000, indicating a positive trend in e-commerce activities[12]. - HONMA hosted 1,912 customer events during the six months ended September 30, 2022, enhancing brand and product awareness[14]. - The company continues to evaluate and expand its sales and distribution networks to adapt to local retail landscapes and consumer behaviors[20]. - The company has implemented a customer relationship management system with e-commerce functionalities to provide a comprehensive brand experience[8]. Challenges and Risks - The golf industry is expected to face challenges due to public health uncertainties and supply chain issues, but the company sees positive recovery trends as golf participation increases[29]. - The company is committed to optimizing operational efficiency and maintaining cash reserves to mitigate the impacts of global health challenges[29]. - The company will continue to monitor external challenges related to COVID-19 and adjust its business strategies accordingly to protect employee health and safety[30]. Shareholder Information - The company declared an interim dividend of ¥1.5 per share, totaling approximately ¥908.5 million, which represents 29.4% of the group's distributable profit for the six months ended September 30, 2022[83]. - Kouunn Holdings Limited holds 233,560,525 shares, representing 38.56% of the total shares[90]. - Huang Wenhuan holds 234,512,775 shares, representing 38.72% of the total shares[90]. - The total number of issued shares is 605,642,500[93]. - The company has not yet committed to any acquisition targets as of the reporting date, indicating a cautious approach to potential acquisitions in the golf product industry[82].
本间高尔夫(06858) - 2023 - 中期财报