Honma Golf reports sharp revenue decline, increased net loss

Honma Golf Limited announced its interim results for the six months ended 30 September 2025, reporting a 19.8% decrease in revenue to JPY7,867.5 million. This decline was primarily driven by a 33.1% revenue drop in Japan and a 43.2% decrease in North America. Despite robust 44.9% sales growth in Korea, it was insufficient to offset broader market challenges, including intensified competition and weak consumer sentiment.

The company reported a net loss of JPY2,398.3 million for the period, a significant increase from the JPY845.6 million loss in the prior year. This was impacted by a substantial income tax expense of JPY1,171.9 million, compared to an income tax credit in the previous period. Gross profit margin saw a slight increase to 53.5% from 53.0%, partially helped by active sales price management. Cash flows from operating activities also decreased significantly to JPY1,922.9 million from JPY4,024.4 million.