Daiwa owner sees ‘gradual’ recovery trend in major market

The owner of Daiwa has reported a ‘gradual’ recovery trend within its major market in the nine months to December 31st, 2025.

Globeride – owner of the Daiwa fishing brand – says the improvement in its all-important domestic market of Japan has come against a backdrop of an improved employment and income environment and an expansion of inbound tourism. Although revenue was down in the sector, profit rose by 6.2%.

However, it warns the future remains difficult to predict due to high material prices and stagnant consumer confidence caused by rising commodity prices, fuelled by the depreciation of the yen.

The group, which also owns outdoor sports brands in the tennis, golf and bicycle industries, reported net sales for the period of 95,511m yen – up 1.3% year-on-year – and an operating profit decline of 4.2% (6,149m yen), a result of an increase in selling, and general and administrative expenses. This was despite an increase in gross profit resulting from cost improvement.

Overseas, it has highlighted the situations in Ukraine and the Middle East, the slowdown of the Chinese economy and trade and monetary policies in the US, as areas of major concern.

Operating results by region:

Japan

Globeride’s home market remains sluggish due to rising commodity prices which have had a detrimental effect on disposable income. In an effort to encourage sales of its fishing gear, Daiwa introduced a number of new products including the Saltiga spinning reels, Steez baitcasters and Emeraldas saltwater rods.

The group saw sales decrease by 0.8% to 60,932m yen year-on-year, but segment profit up of 4,398m yen (+6.2%).

Americas

The future remains uncertain in the US, mainly due to the impact of tariffs. The group made efforts in expanding sales – predominantly within its bass fishing products – through the introduction of the Tatula reels series alongside saltwater models.

Net revenue inched ahead by 0.3% compared to the same period last year to 10,946m yen. Segment profit was up 124.7% to 193m yen.

Europe

While the situation varied in different countries across the region, the market showed signs of a gradual recovery with sales delivering a 4.9% rise to 13,003m yen and a 20.4% increase in profit (668m yen).

Asia and Oceania

Market conditions remained stagnant in the Great China region with China at the centre. However, Southeast Asia is on a recovery trend with the group working to expand sales mainly through the sale of high-class Japanese-made products and goods catering for the needs of the local markets.

Net sales were 38,355m yen (+3.5%), but segment profit down -5.2% (4,026m yen).