Japanese apparel firm Takihyo's Q1 FY22 sales rise 25% to ¥14.6 bn

Takihyo, a Japanese manufacturer of apparel and textile products, reported 25 per cent sales increase to ¥14.6 billion (Japanese yen) in its first quarter (Q1) of FY22 ended on May 31, 2021, against ¥11.7 billion in the same period of previous fiscal. Operating profit for Q1 FY22 was ¥124 million compared to operating loss ¥173 million in Q1 FY21.

 

The company's gross profit surged to ¥3.0 billion (¥2.5 billion), while ordinary profit for the quarter rose to ¥195 million (loss: ¥142 million).

 

Due to the continued impact of shorter operating hours of commercial facilities and self-restraint from going out following declarations of the state of emergency, with no end to the coronavirus disease (Covid-19) in sight, the overall situation of the clothing market was below the level of 2019, before the coronavirus pandemic, except for major specialty retail chains located in suburban areas that feature low prices, high functionality and regular items, according to the company.

 

Under these circumstances, Takihyo has been working with “recovery of the existing wholesale business,” “strengthening of the retail business,” “planning and proposal of distinctive product lines,” and “collaboration with different industries” as priority measures for the current fiscal year, the Japanese firm further added. Specifically, the company has been achieving results mainly in the total casual clothing project for women and men, which is collaborated with major general merchandise stores, EC sales of self-developed products, and the coordination project using influencers with major specialty retail chains