Media OutReach
HONMA Golf Announces Annual Results for FY2024/25
Continued Gross Profit Margin and Net Operating Cash Flow improvements albeit difficult market conditions
HONG KONG SAR – Media OutReach Newswire – 26 June 2025 – HONMA Golf Limited (“HONMA”; together with its subsidiaries, the “Group”; HKEx stock code: 6858), one of the world’s most prestigious golf brands, announces its consolidated annual results for the year ended 31 March 2025 (the “Period”).
Financial Highlights
- Due to economic slowdown and challenges, increased competition within the industry, and weakened consumer confidence, the Group’s revenue for the Period decreased by 17.4% to JPY21,672 million (equivalent to USD142.9 million).
- Nonetheless, retail revenue grew by 11.0% and 8.9% respectively in Mainland China and Taiwan during the Period and revenue from Europe increased by 16.4%, rising from JPY361.8 million for the year ended 31 March 2024 to JPY421.0 million.
- Gross profit margin expanded by 3.2 percentage points, reaching 54.4%, following improvements in Japan’s gross margin command.
- Net operating cash flow increased by 1.5% to JPY5,497 million (equivalent to USD36.2 million).
Major Achievements
For the year ended 31 March 2025, the golf industry witnessed increased market competition and adjustments in both participation and purchase intent resulting from economic slowdowns and challenges in certain parts of the world. Despite unfavorable market conditions, HONMA continued to implement its long-term business strategies by investing into its product development, distribution footprint and brand marketing efforts while carefully protecting its financial strength and cash flow.
Strategic Focus on Super-Premium and Premium-Performance Segments
Amidst downward adjustments in the global golf industry, HONMA remained focused on cultivating its home markets in Asia and further consolidated and streamlined its product offerings around two key consumer segments – super-premium and premium – performance. HONMA has been maintained a leading and strong market position in the super-premium segment for decades, developing and selling clubs that combine Japanese aesthetic beauty with uncompromising features. The premium-performance segment, which is dominated by avid golfers, has enjoyed the strongest growth momentum for years and is the largest in terms of participation. To increase its penetration into both segments, HONMA has simplified its product strategy. This includes enriching its TOUR WORLD club portfolio with a performance enhancement series and renewing its classic BERES club family with a modern and sophisticated design approach to appeal to today’s golfers.
Expanding Product Portfolio in Core Segments
HONMA derived most of its revenue from the sales and distribution of golf clubs. During the Period, golf clubs generated 70% of the Group’s total revenue. HONMA remains committed to apply cutting-edge technologies and artisan-style Japanese craftsmanship to the design, development, and manufacturing of a comprehensive range of exquisitely crafted, performance-driven golf clubs.
In addition to clubs, HONMA launched various golf ball products with its own patent and relaunched its apparel business to create a comprehensive range of golf products for golfers in the super-premium and premium-performance segments. These new product portfolios have generated stable revenue contributions over the past years and aim to meet the HONMA brand positioning and play preferences of its consumers.
Driven by continued price management and enhanced product offerings, HONMA’s overall gross profit margin expanded by 3.2 percentage points year-on-year, despite increases in raw material prices and unfavorable currency movements. Specifically, the gross profit margins for golf balls, apparel, and accessories rose by 4.0, 9.9, and 22.7 percentage points year-on-year respectively.
Reprioritizing Growth Strategies and Enhancing Financial Performance in North America and Europe
HONMA made constant upgrade of its retail presence with top-tier locations, revitalized visual identity, fresh design concepts, and enhanced customer experiences. As a result, sales from self-owned channels increased 2.8% year-on-year to JPY 11,263 million.
North America and Europe continued to enjoy the largest golfer demographics, albeit with varied market conditions. For the year ended 31 March 2025, HONMA reprioritized its distribution strategy in these regions by focusing on a select group of premier accounts that best represent HONMA’s tradition and commitment to the super-premium and premium-performance consumer segments. Concurrently, HONMA optimized its organisational set up and cost base in both markets to ensure stable near- to mid-term growth amidst social, economic, and financial uncertainties.
As part of this strategic adjustment, HONMA opened 26 points of sales (“POS“) in North America during the year, bringing the total to 370 as of 31 March 2025. In Europe, HONMA opened seven new POS, expanding its network to 136 locations.
Re-defining the HONMA brand
HONMA initiated various programs to enhance its global brand positioning and communication with target consumers. To re-define the HONMA brand as a dynamic, relevant, and premium golf lifestyle brand among internet-savvy younger golfers, HONMA has consistently elevated its global website and social media platforms with regular and relevant visual and content updates to continuously promote brand and product awareness and appeal to younger golfers.
With a full-channel approach and a boost in digital marketing investment, HONMA’s e-commerce sales rose 6.3% year-on-year while Japan and China recorded a year-on-year increase of 10.1% and 6.9% rise.
To create an end-to-end digital ecosystem around the redefined brand and golfers in the super-premium and premium-performance segments, HONMA has implemented customer relationship management (CRM) systems in multiple markets. The Group has also added advanced e-commerce capabilities and consumer-centric custom tools to provide consumers with the ultimate 360-degree brand experience. These initiatives strengthen HONMA’s direct-to-consumer communication and are expected to eventually increase sales both online and offline.
Business Outlook
In the coming years, HONMA will continue to execute its long-term growth strategy to establish itself as a world-leading golf lifestyle company, leveraging HONMA’s brand legacy, expanding distribution network, and innovative technologies, and traditional Japanese craftsmanship. Key focus areas include sustainably enhancing HONMA’s brand value to foster customer loyalty, increasing market share in home markets by maintaining its leading position in the super-premium segment, while making inroads into the fast-growing premium-performance segment. HONMA aims to anchor sustainable growth in North America and Europe through an updated product and distribution strategy. Additionally, HONMA will nurture complementary non-club product lines to offer customers a complete golf lifestyle experience and pursue product innovation and development to meet the latest market trends.
Mr. LIU Jianguo, Chairman of the Board, President, and Executive Director of HONMA Golf Limited, stated: “Despite market fluctuations, HONMA has demonstrated remarkable resilience, maintained strong gross margins, and expanded our direct-to-consumer channels. Our strategic focus on the super-premium and premium-performance segments, combined with enhanced digital capabilities and an optimized distribution network, has positioned us well for future growth and enabled us to deliver better returns for our stakeholders. ”
Hashtag: #HONMAGolf
The issuer is solely responsible for the content of this announcement.
About HONMA Golf Limited
HONMA is one of the most prestigious and iconic brands in the golfing industry. Founded in 1959, HONMA combines the latest innovative technologies with traditional Japanese craftsmanship to offer golfers around the world premium, high-tech, and high-performance golf clubs, balls, apparel, and accessories.
As the only vertically integrated golf company with extensive in-house design, development, and manufacturing capabilities, as well as a broad retail footprint in Asia, HONMA is perfectly positioned to continuously grow its business in Asia and beyond, benefitting from the return of golfers in mature golf markets such as the US and Japan, and from increased participation in emerging markets such as Korea and China.
HONMA will celebrate its 68th anniversary in 2025. In recent years, HONMA has actively undertaken brand and marketing campaigns with the goal of redefining the HONMA brand as a dynamic, relevant, and premium golf lifestyle brand among today’s golfers. HONMA maintains a team of young professional players from Asia who are considered rising stars or upcoming challengers in the golf industry. HONMA has also collaborated extensively with coaches and key opinion leaders in major Asian markets and made significant investments in its retail distribution network and digital capabilities in Japan and China to unify and elevate the consumer experience and purchase journey for its loyal consumers and the younger golfing community.
Graduate salary data provides useful guidance, but it should not be read in isolation. Starting salary is one indicator of return on investment. It should be considered alongside employment rates, full-time permanent employment, industry pathways, career support, programme fit and long-term skills relevance.
For students considering Singapore Institute of Management Global Education (SIM GE), SIM’s Graduate Outcome & Employability page provides a reference point for understanding graduate outcomes. The page explains how SIM graduates have performed in the Private Education Institution Graduate Employment Survey (PEI GES), where they have worked, and how SIM supports students in building career readiness.
Why the PEI Graduate Employment Survey matters
For students considering private education pathways, the PEI Graduate Employment Survey (GES) is an important reference because it provides employment and salary outcomes for graduates from registered private education institutions.
The 2024/2025 PEI GES focused on economically active fresh graduates who graduated between May 2024 and April 2025 from full-time Bachelor’s level External Degree Programmes. The survey covered about 6,150 full-time graduates across 26 private education institutions, with a response rate of 61.6 per cent, and was conducted from October 2025 to January 2026.
Among 2,600 economically active PEI fresh graduate respondents in the labour force, 78.9 per cent secured employment within six months of graduation. The median gross monthly salary for PEI fresh graduates in full-time permanent employment remained stable at S$3,500.
This makes the PEI GES useful for students and parents who want to compare graduate outcomes within the private education sector. It also allows SIM’s graduate outcome data to be read against a broader PEI sector benchmark.
What SIM graduate outcome data shows
SIM’s Graduate Outcome & Employability page reports that SIM fresh graduate respondents recorded 81.0 per cent secured employment, 77.9 per cent currently employed, 47.0 per cent in full-time permanent employment and a median gross monthly salary of S$3,565. The page attributes these figures to Skills & Workforce Development Agency 2024/2025 PEI GES.
| Indicator | SIM | Avg of All PEI (include SIM) |
| Secured employment | 81.0% | 78.9% |
| Full-time permanent employment | 47.0% | 46.9% |
| Median gross monthly salary | S$3,565 | S$3,500 |
This comparison places SIM’s graduate outcomes at the top spectrum of the PEI sector. It also shows why employability should be assessed through more than one indicator. Secured employment, full-time permanent employment and median gross monthly salary each provide a different view of graduate outcomes.
Secured employment indicates whether graduates entered work, accepted job offers or were taking steps to start a business venture. Full-time permanent employment provides a view of stable employment. Median gross monthly salary shows the middle salary point among full-time permanently employed graduates.
Where SIM graduates have worked
SIM graduates have entered a range of sectors, including aviation, aerospace and engineering, airline and tourism, banking and financial services, information and communications technology, cybersecurity, insurance, consumer services, public sector and government, consulting and professional services, healthcare, logistics, transportation, retail and manufacturing.
These employer destinations are relevant because students are not only selecting a degree. They are also considering possible pathways into industries, job functions and future career options. A business-related pathway may support roles in banking, consulting, retail, logistics or entrepreneurship. A technology-related pathway may lead to opportunities in information and communications technology, cybersecurity, data, digital services or business technology roles.
How students should compare salary, employability and ROI
A practical approach to comparing degree options is to consider four areas: relevance, return, readiness and resilience.
| Factor | What to consider |
| Relevance | Does the degree connect to industries that are hiring? |
| Return | What do employment and salary outcomes show? |
| Readiness | What career support, internship guidance and employer exposure are available? |
| Resilience | Can the skills support future career changes? |
This approach helps students avoid selecting a degree based only on the highest salary benchmark. While starting salary is an important consideration, long-term value also depends on whether the student can build relevant skills, gain experience and adapt to changes in the labour market.
How SIM supports employability
SIM supports students through career preparation and employer engagement, including résumé writing, interview preparation, job search guidance, career fairs, employer talks, recruitment events, internship search guidance and workshops that build communication, teamwork, problem-solving and professional confidence.
Such support is relevant to return on investment because employability is influenced not only by the qualification awarded, but also by how prepared students are to enter the workforce. Career readiness, employer exposure and workplace skills can support the transition from study to employment.
Conclusion
Graduate starting salary is an important consideration for students and parents assessing higher education options in Singapore. However, it should not be the only measure used to evaluate a degree pathway.
A more balanced assessment considers employment rates, full-time permanent employment, median gross monthly salary, industry pathways, career support and long-term skills relevance. This provides a broader view of how a higher education pathway may support employability and future career development.
When read together with the PEI Graduate Employment Survey, national salary benchmarks and SIM’s Graduate Outcome & Employability page, graduate outcome data can help students and parents make more informed decisions about salary expectations, employability and return on investment.
References
- SIM’s Graduate Outcome & Employability page – https://www.sim.edu.sg/degrees-diplomas/parent-resource-hub/graduate-outcome-employability
- SWDA PEI Graduate Employment Survey 2024/2025 – https://www.swda.gov.sg/home/skills-career-resources/private-education-resources/graduate-employment-survey/2024-2025
- Employment Outcome for PEI Graduates – https://www.swda.gov.sg/home/newsroom/employment-outcomes-for-private-education-institution-graduates-remain-stable-in-2024-2025
- SIM Career Service – https://www.sim.edu.sg/degrees-diplomas/life-at-sim/career-services
Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills
The issuer is solely responsible for the content of this announcement.
About SIM Global Education
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 17,000 full- and part-time students and adult learners, of which approximately 41% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit www.sim.edu.sg
Media OutReach
SBI Global Asset Management and DigiFT Launch JX, Bringing a Japanese Asset Manager’s Equity Strategy On-Chain for the First Time
The launch comes as investor attention returns to Japanese equities, supported by the Tokyo Stock Exchange’s continued push for listed companies to improve capital efficiency and demonstrate greater awareness of share-price performance. It also reflects a broader evolution in tokenization: the value of tokenized RWAs distributed on public blockchains grew from USD 5.9 billion to USD 21.9 billion globally in 2025, moving the category beyond cash-like instruments and into actively managed public-market strategies. DigiFT was an early mover in this shift, launching a tokenized U.S. equity income fund developed with BNY in January 2026. This shift is now extending directly into Japan’s own institutional market, where SBI Group has been among the country’s most active builders of on-chain financial infrastructure.
DigiFT holds Capital Markets Services and Recognised Market Operator licences from MAS, as well as Type 1 and Type 4 licences from the Hong Kong SFC – a dual regulatory standing that has made it a tokenization and distribution partner for global and regional asset managers, including UBS Asset Management, Invesco, BNY and Franklin Templeton. DigiFT’s roster now extends into Japan, through SBI GAM’s participation, adding a Japanese listed-equity strategy to that lineup for the first time. DigiFT is launching the JX Token on Solana, further expanding the availability of regulated RWAs on-chain, with ecosystem participants including Solana Company, Huma Finance and Plume.
SBI Holdings brings its own substantial on-chain track record to the collaboration. The group reported consolidated revenue of JPY 1.90 trillion for the fiscal year ended 31 March 2026, with its Crypto-asset Business segment generating JPY 89.6 billion in revenue over the same period. SBI Holdings has taken direct stakes across the region’s tokenization infrastructure, including leading a $50 million investment in Startale Group to build a blockchain purpose-built for tokenized securities, and holding a majority stake in Osaka Digital Exchange, operator of a secondary market for security tokens in Japan.
JX is structured around the underlying strategy managed by SBI AM. This authorized, manager-referenced model is critical as regulators are increasingly distinguishing tokenized securities developed with issuer or manager alignment from products that provide only indirect economic exposure. In a joint staff statement issued 28 January 2026, the U.S. SEC staff drew a formal line between issuer-sponsored tokenized securities, which can represent true ownership, and third-party products that typically offer only synthetic exposure or custodial entitlements – signalling an intent to encourage the former while curbing the spread of the latter.
Henry Zhang, Founder and Group CEO, DigiFT: “Our mission at DigiFT has always been to bring real, institutional-grade assets on-chain through infrastructure that investors and asset managers can actually trust. JX extends that mission to Japan for the first time, opening regulated, on-chain access to Japanese equities. We’re proud to build this with SBI Group, one of Japan’s most forward-looking financial institutions, and excited about what this partnership signals for the future of tokenization across the region.”
Hashtag: #DigiFT
The issuer is solely responsible for the content of this announcement.
Media OutReach
Smilegate LORDNINE Launches Pre-Registration for New Growth-Accelerated Server ‘Helena’ in Celebration of 1st Anniversary… 32,000 USDt Reward Event Underway
- Pre-registration for new server Helena opens July 14… Official launch on July 29
- Sweeping new server growth-support systems, including 50% additional EXP via Mastery Buff
- Rich rewards including a 32,000 USDt reward event, limited edition skins, and 1,111 summon tickets
SEOUL, SOUTH KOREA – EQS Newswire – 15 July 2026 – Smilegate announced on Tuesday, July 14 that pre-registration has begun for ‘Helena’, a new growth-accelerated server for the MMORPG 《LORDNINE: Infinite Class》 (developed by NX3 Games), in celebration of the game’s 1st anniversary.
Pre-registration for the new Helena server is available through the official LORDNINE page (https://l9asia.onstove.com/en), with the official launch scheduled for July 29 at 7:00 PM.
Helena is a growth-accelerated server designed to allow players to level up characters faster than on existing servers. Key features include a Mastery Buff that provides an additional 50% EXP gain and more than 40,000 ‘Fragments of Ancient Relics’ to support character progression, helping players settle in smoothly during the early stages.
To celebrate the launch of the Helena server, Smilegate has prepared a variety of events, including a 32,000 USDt reward event. Helena server users can participate in in-game attendance and mission events to obtain three Hero-grade avatars and three artifacts, as well as up to 1,111 summon tickets.
A pre-registration event will also be held. Users who sign up for pre-registration will receive a limited edition skin, and among users who refer 20 friends through the pre-registration page, a drawing will be held with winners receiving an iPhone 17 Pro.
In addition, a skin design contest will be held to celebrate the 1st anniversary. Participants can freely submit skin designs they would like to see released in LORDNINE. In-game rewards worth up to 80 million KRW are up for grabs, and notably, the grand prize-winning design will actually be released in-game.
For more information about the game, please visit the official page (https://l9asia.onstove.com/en).
| Contact Point | Office | Mobile Phone | ||||
| Sangjik Oh, Team Leader | 031-630-3142 | 010-5236-0571 | sj****@*******te.com | |||
| Hyeran In, Deputy General Manager | 031-630-3143 | 010-3291-6710 | hr****@*******te.com | |||
| Jiwon Hong, Deputy General Manager | 031-630-3144 | 010-4135-0298 | jw****@*******te.com | |||
| Taehyun Park, Assistant Manager | 031-630-3179 | 010-6805-1177 | th****@*******te.com |
Hashtag: #Smilegate
The issuer is solely responsible for the content of this announcement.
