The bottom line at the high-end Japanese golf club maker swung to a ¥1,119.8 million ($7.5 mm) profit for the fiscal year ended Mar. 31, compared to last year’s loss of ¥264.2 million on 3% higher revenues of ¥22,259.7 million ($149.1 mm) from ¥21,672.1 million. The bottom line benefited from lapping last year’s ¥1,458.5 million ForEx headwind. Sales to third-party retailers and wholesalers were up 12% to ¥11,693.8 million, driven by a wholesale recovery in Korea and China. Those gains were softened by directly operated stores dipping 6% to ¥10,565.9 million, ... Log in to view full article.