Revenue Growth - For the six months ended September 30, 2021, the company's revenue increased by 31.1% compared to the same period in 2020, despite most self-operated stores being closed due to COVID-19[6]. - Revenue from Japan increased by 105.9%, while China saw a year-on-year growth of 54.0%, and North America and Europe recorded increases of 40.7% and 29.2%, respectively[7]. - The total revenue of the group increased by 31.1% from 9,053.0 million yen for the six months ended September 30, 2020, to 11,872.0 million yen for the six months ended September 30, 2021[37]. - Revenue from golf clubs accounted for 73.4% of total revenue, rising by 23.9% to 8,719.4 million yen for the six months ended September 30, 2021[41]. - Revenue from apparel surged by 151.3% from 501.1 million yen to 1,259.3 million yen during the same period, driven by ongoing investment in product development[41]. - Revenue from the Chinese market (including Hong Kong and Macau) increased by 54.0% to 3,624.7 million yen, with a fixed exchange rate basis increase of 39.4%[44]. - Revenue from Japan saw a significant increase of 105.9%, rising to 3,821.6 million yen for the six months ended September 30, 2021[44]. - Revenue from North America and Europe increased by 40.7% and 29.2% respectively, reaching 4,295 million JPY and 5,296 million JPY for the six months ended September 30, 2021[45]. Product and Market Strategy - The company is focusing on the ultra-high-end and ultra-performance consumer segments, enhancing its product portfolio by introducing the new GS series under the TOUR WORLD family, which launched in January 2021[9]. - The company has redefined its brand positioning and communication to appeal to younger golfers, resulting in increased digital engagement and brand awareness[8]. - The company has removed the Be ZEAL product line while enhancing the TOUR WORLD family and traditional BERES products for beginner golfers[6]. - The BERES and TOUR WORLD product families target specific consumer segments, with a focus on high-end and performance-driven golfers[15]. - The company aims to strengthen its leadership in the ultra-high-end segment while solidifying its presence in the rapidly growing super-performance segment, particularly in the domestic markets of Japan, Korea, and China[26]. Digital and Retail Expansion - The company is implementing customer relationship management systems and e-commerce functionalities to enhance consumer experience and drive sales[8]. - The company continues to invest in e-commerce and digital marketing strategies to enhance brand visibility and consumer engagement[12]. - The company opened 102 new retail points in North America, bringing the total to 336 retail locations as of September 30, 2021[11]. - The company opened 38 new retail points in Europe, increasing the total to 628 locations as of September 30, 2021[12]. - Website traffic nearly doubled, with the average order value exceeding $1,000, reflecting strong brand interest in the North American market[12]. - A total of 2,008 customer events were held during the six months ended September 30, 2021, compared to 1,357 events in the same period last year[14]. Financial Performance - Gross profit increased by 41.6% to ¥6,561,849, up from ¥4,634,374, resulting in a gross margin of 55.3%[34]. - The company reported a pre-tax profit of ¥1,746,495, a significant turnaround from a loss of ¥431,376 in the same period the previous year, reflecting a 504.9% improvement[34]. - Net profit for the period was ¥1,348,351, compared to a loss of ¥803,525 in the same period the previous year, indicating a strong recovery[34]. - The company reported a total comprehensive income of ¥1,364,535 thousand for the period, compared to a loss of ¥752,412 thousand in the same period last year[123]. - Cash flow from operating activities for the six months ended September 30, 2021, was 3,897,456 thousand yen, significantly higher than 2,153,871 thousand yen in the previous year, marking an increase of about 80.9%[128]. Employee and Operational Management - The company aims to maintain employee health and financial stability while pursuing growth strategies during the pandemic[8]. - Employee welfare expenses amounted to 2,312.4 million yen for the six months ending September 30, 2021[23]. - The company has a strong focus on maintaining a good reputation with banks, as indicated by the absence of recent violations[84]. Investment and Capital Management - The planned use of proceeds from the global offering includes 29.4% allocated for potential strategic acquisitions, amounting to 4,939 million yen[83]. - As of September 30, 2021, 70.4% of the global offering proceeds had been utilized, leaving a remaining balance of 29.6%[83]. - The company has fully repaid interest-bearing bank loans using proceeds from the global offering, with the remaining unused balance planned for general corporate purposes[84]. - The company will continue to cautiously evaluate potential acquisition targets in the golf product industry based on brand recognition, geographical coverage, distribution networks, product variety, and financial status[84]. Shareholder Information - The percentage of shares held by Kouunn Holdings Limited is 38.56%, representing a significant ownership stake[92]. - The company’s major shareholder, Fosun International, holds a 72.31% stake in Fosun Industrial Holdings Limited[94]. - The total number of issued shares as of September 30, 2021, is 605,642,500[90]. - The board declared an interim dividend of JPY 1.5 per share, totaling approximately JPY 908.5 million, which corresponds to about 7.8% of the distributable profit as of September 30, 2021[111]. Corporate Governance - The company has complied with all applicable code provisions of the Corporate Governance Code, except for A.2.1, which states that the roles of the chairman and CEO should be separate[113]. - The audit committee, consisting of three independent non-executive directors, has reviewed and discussed the unaudited interim results for the six months ended September 30, 2021[115]. - The company believes that the current leadership structure allows for effective planning and execution of business decisions and strategies[113].
本间高尔夫(06858) - 2022 - 中期财报