Added to YB: 2026-09-07
Pitch date: 2026-09-03
8022.T [neutral]
Mizuno Corporation
Author Info
Asian Century Stocks is a former buy-side investor in Asia that now focuses on researching value stocks in Asia and sharing them in his newsletter. 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 313.7B
Pitch Price
N/A
Price Target
N/A
Dividend
1.60%
EV/EBITDA
10.05
P/E
16.16
EV/Sales
1.08
Sector
Leisure Products
Category
growth
Mizuno (8022 JP)
8022.T (overview): Mizuno’s turnaround rests on structural margin expansion from higher-margin direct-to-consumer channels and Sportstyle, rather than merely yen weakness; product momentum also includes several hero products. Sportstyle revenue has grown 9.5x since 2019 and football-shoe revenue has tripled. Management targets revenue of JPY330B versus JPY267B today. At 16x FY2027 earnings, the key question is whether Mizuno can build the design, sponsorship and marketing strength needed to become culturally relevant like Asics.
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