Japanese sports gear companies are seeing strong earnings as the coronavirus pandemic prompts people to avoid the gym and exercise outdoors.
Mizuno says its net profit in the six months through September came to 37 million dollars -- a nearly 40-fold increase from the same period last year. The company attributes the recovery mainly to brisk sales of golf clubs and running shoes in Europe and the United States.
Another company, Descente, posted a net profit of 21 million dollars in the same six-month period due to increased sales of golf gear. It recovered from a net loss of nearly 11 million dollars a year earlier.
Increased sales of running shoes helped Asics recover from a net loss of 29 million dollars for January through September of last year, to get a net profit of 166 million dollars in the same period this year.