Golf Digest Online : Results Briefing Material for the First Quarter Ended March 31, 2023
May 10, 2023
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Results Briefing for the First Quarter Ended March 31, 2023
Golf Digest Online Inc.
May 11, 2023
Disclaimer
This results briefing may contain forecasts for the GDO Group's future business results.
Readers are cautioned that actual business results may differ from these forecasts due to a variety of elements, including latent risks and uncertainties. For more information on factors that may impact our business results, please refer to the Business Risks section in our Securities Report. However, please note that elements that may impact our business results are not limited to those included in the Business Risks section.
Effective from the fiscal year ending December 31, 2022, the GDO Group applies Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, hereinafter referred to as Accounting Standard for Revenue Recognition, etc.).
Readers are asked to refrain from the unauthorized reproduction of this briefing or any data therein.
Results landed in line with the plan amid a continuously deteriorating environment marked by a sharp rise in inflation since the end of the previous year and the end of the COVID-19-related special demand Continued focus on reaching the targets set in the Mid-term Business Plan
U.S. GOLFTEC's center-opening strategy and acquisition of the Golf Launch Monitors business(SkyTrak) in August 2022 propelled sharp growth in the Overseas Segment. The Domestic Segment achieved steady growth, surpassing the strong performance of the previous fiscal year
Booking of expenses related to the launch of the Golf Launch Monitors business and amortization of goodwill and intangible assets
Operating loss is in line with the plan which factored in seasonal factors for Q1
Golf Digest Online Inc. published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2023 02:29:07 UTC.
Golf Digest Online Inc. is a Japan-based company mainly engaged in the provision of golf-related services. The Company operates in two regional segments. The Domestic segment is engaged in the online sale of golf equipment (new and used), the provision of golf course reservation services, golf media services and golf lesson services. The Overseas segment is engaged in the provision of golf lesson services, the import and sale of golf-related products, as well as the provision of golf course reservation services overseas.
GOLF DIGEST ONLINE INC. 
