Added to YB: 2026-10-07
Pitch date: 2026-10-02
8022.T [neutral]
Mizuno Corporation
+2.34%
current return
Author Info
JPARCVUE shares independent research on Japanese SMID & growth equities. Sign up for the newsletter.
Company Info
Mizuno Corporation manufactures and sells sports products in Japan, the rest of Asia, Europe, the Americas, and Oceania.
Market Cap
JPY 327.0B
Pitch Price
JPY 4.3K
Price Target
N/A
Dividend
1.53%
EV/EBITDA
10.51
P/E
16.84
EV/Sales
1.13
Sector
Leisure Products
Category
growth
Mizuno (8022): PER from 6x to 16x, operating profit up 33%. A quiet re-rating for a diversified sporting goods maker built on steady, unspectacular growth.
8022.T (monitor): Mizuno’s diversified sporting-goods portfolio is delivering record results and broader growth, while workwear, sportstyle and direct-to-consumer sales could extend margin improvement. However, the stock already trades at 16.4x trailing earnings versus an 8.4x average in 2021-2023. Golf demand is discretionary, baseball faces a shrinking Japanese market, and overseas expansion adds exposure to currently lower-margin regions.
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