Casio reports strongest sales and profit since Covid

Casio Computer Co. has published its global financial results for the financial year ending March 31 in Japan, with its timepiece division recording its highest sales and profit numbers since the Covid pandemic.

Its timepiece division revenue was up 11% year-on-year to ¥166,127 million, which is about $1.04 billion or £777 million.

Meanwhile, operating profit in its watches segment was up 34% to ¥27,125, amounting to roughly $171 million or £127 million.

These numbers show once again just how relevant Japanese watchmakers are in the global watch ecosystem, coming on the back of similarly impressive results from Citizen Watch Co. and Seiko Group Corporation.

It’s also testament to Casio’s product and marketing achievements, where it has a strong command of the entry price point through its Casio watches, and a dedicated following at more elevated price points via its much-loved G-Shock sub-brand.

“G-Shock sales remained firm for the iconic form 5000 and 5600 series and octagonal 2100 series, under the strategy of retargeting standard, entry-level models,” the company said.

It said that it expects to maintain solid growth for the forthcoming year, but that it’s mindful of potential banana skins. “There are concerns that rising costs and other factors, driven by developments in economic policies in various countries and escalating tensions in the Middle East, will impact business operations. 

“The Casio Group will closely monitor changes in the market environment and respond with agility with pricing and supply chain measures in order to minimize impact on business performance and maintain profitability.”