Citizen Watch Co. continues unstoppable rise with Q1 results

Citizen Watch Co., Ltd has published its global financial results for the first quarter of its new fiscal year, ended June 30.

In keeping with recent triumphant financial results, the whole group (which includes sales of tools, components, etc,) saw year-on-year (YoY) revenue and operating profit increase significantly, while its watches division specifically is also in rude health.

Total net sales for the company in the most recent quarter were up to ¥98,129 million (c. $614 million) from ¥75,282 million (c. $471 million) in the same period last year — a rise of +30.35%.

The watches division saw sales rise to ¥54,878 million (c. $343 million) from ¥41,551 million (c. $260 million) — a YoY rise of +32.07%.

Operating profit for the watches division was up +62.08% YoY to ¥7,138 million (c. $45 million), while operating profit for the whole group was up +110.96% YoY. The company largely attributed this increase to the higher net sales of finished watches in North America, in addition to an increase in sales in movements.

These financial results have led to Citizen Watch Co. revising its forecast for the financial year ended 31 March 2027. The sales forecast has risen from ¥201,000 million (previously announced on May 13) to ¥223,000 million (c. $1.4 billion).

Meanwhile, its forecast for operating profit has risen from ¥25,500 million to ¥29,000 million (c. $182 million).