Latest news with #672
Local Sweden
4 days ago
- Business
- Local Sweden
Historic Swedish church to be moved to make way for mine
A historic red wooden church considered one of Sweden's most beautiful buildings is to be moved from its longtime home in the Arctic town of Kiruna next week as part of a campaign to expand Europe's biggest underground mine. Advertisement Kiruna Kyrka, a Swedish Lutheran church, dates from 1912. The 672 tonne, 40 metre (131 feet) high building will be moved five kilometres (three miles) on a lorry to the new Kiruna town on Tuesday and Wednesday. The complex and costly logistical operation has generated widespread interest, with more than 10,000 people expected to line the streets of the town of 18,000. King Carl XVI Gustaf will be among those in town following the move. Swedish television will broadcast the entire journey live -- a new iteration of the "Slow TV" trend -- with 30 cameras set up along the route, it said. Kiruna's entire town centre is being moved because of the giant mine that dominates the region. As the LKAB iron ore mine's operations have progressed ever deeper over the years, the stability of the ground under Kiruna has weakened, increasing the risk of collapse in some parts. Advertisement Unique event The town's relocation process began almost two decades ago and is expected to continue for years to come. The new town centre was officially inaugurated in September 2022. The relocation of the church alone is expected to cost 500 million kronor ($52 million) and is being paid for by LKAB. Designed by Swedish architect Gustaf Wickman, the imposing structure is a mix of influences and includes designs inspired by the region's indigenous Sami people on the pews. The neo-Gothic exterior features slanting roofs and windows on each side, while its dark interior has elements of national romanticism as well as an Art Nouveau altarpiece painted by Sweden's Prince Eugen (1865-1947), a pastel landscape inspired by his trips to Toscana and western Sweden. The church is one of 23 cultural buildings relocated in the Kiruna move. LKAB has called next week's relocation "a unique event in world history". The structure has been "thoroughly examined ahead of the move to protect its cultural assets in the best possible way, to ensure that the altarpiece and organ in particular are moved with care," the company said. Advertisement The roads on the route have been widened, a process that took a year according to LKAB, and the ground around the church's current location has been dug out. "The church is sitting on a beam system, then two rows of trailers were brought in," LKAB project manager Stefan Holmblad Johansson told AFP. The move is expected to take on the air of a street party, with LKAB treating crowds to snacks, refreshments and live entertainment.
Indian Express
6 days ago
- Politics
- Indian Express
Animals ‘missing' from Alipore Zoo: ‘Enquiry on, report expected in two weeks', Central Zoo Authority tells Calcutta HC
The Central Zoo Authority (CZA) on Wednesday informed Calcutta High Court that it has initiated an investigation into the Alipore Zoological Garden case. During the hearing of a Public Interest Litigation (PIL) regarding several animals missing from the zoo, Additional Solicitor General Ashok Kumar Chakraborty, on behalf of the CZA, stated: 'An enquiry is on and a report is expected in two weeks. We are seeking time.' The Division Bench of Justice Sujoy Paul and Justice Smita Das De, noting the enquiry was on, posted the matter for hearing on September 1. In July, a three-member CZA team visited the zoo to carry out an audit and examine allegations of a gross mismatch in wildlife inventory, also checking records of animal transfers. The West Bengal Forest Department launched a separate probe. Meanwhile, zoo director Arun Mukherjee was transferred to the Padmaja Naidu Himalayan Zoological Park in Darjeeling Hills, which authorities termed routine. City-based voluntary organisation SWAZON had filed a petition earlier that month accusing the zoo of mismanagement, with over 300 animals 'missing overnight' from records. The petition alleges that while the zoo had 672 animals at the end of 2023-24, the number dropped to 351 at the start of 2024-25 — a fall of 321 in one night. 'The unexplained vanishing of animals, including those classified as endangered, suggests either gross negligence or intentional suppression of facts. Neither the Central Zoo Authority, nor the West Bengal Zoo Authority (WBZA), nor the administration of the Alipore Zoo has issued any public statement, (or) filed any report addressing these discrepancies. Given that the CZA disburses funds to the WBZA for the management of zoos, and that both are publicly funded bodies, these unexplained disappearances of animals demand immediate audit and investigation,' the petition read. It cites alleged inconsistencies: on March 3, 2011, the zoo had 1,452 animals, which allegedly dwindled to 672 by March 31, 2024. 'Between March 31, 2017 (1,186 animals) and April 1, 2017 (910 animals), 276 animals were unaccounted for overnight. The West Bengal Zoo Authority's figures showed a discrepancy of 302 animals in the same period. In 2022, the closing stock of endangered animals was 190, but the opening stock on April 1, 2022 was 131 — a difference of 59 endangered animals with no explanation,' the petition further read.
TimesLIVE
30-06-2025
- Automotive
- TimesLIVE
Nissan aims to delay supplier payments to preserve cash flow, internal emails show
Nissan Motor has asked some suppliers to allow it to delay payments to free up short-term funds, according to several emails and a company document reviewed by Reuters, as the troubled Japanese carmaker scrambles to boost cash. New CEO Ivan Espinosa, who took over in April, has unveiled plans to shed about 15% of Nissan's global workforce and close seven plants as he targets ¥500bn (R60,528,840,000) in cost cuts over the next two years. Battered by slumping sales and weighed down by an ageing vehicle line-up, the car maker reported a $4.5bn (R80,111,672,100) net annual loss in the financial year that ended in March and has declined to give a forecast this year. Now, Nissan has asked some suppliers in Britain and the EU to accept delays in payment, according to the correspondence reviewed by Reuters and a person with knowledge of the matter. The move would allow it to have more cash on hand at the close of the April-June first quarter and follows similar requests before the end of the last financial year in March, the emails showed. It is not uncommon for companies to request payment extensions from suppliers to help free up cash. In a statement to Reuters, Nissan said it had incentivised some of its suppliers to collaborate under more flexible payment terms, at no cost to them, to support its free cash flow. 'They could choose to be paid immediately or opt for a later payment with interest,' Nissan said. The correspondence, which has not been previously reported, gives a detailed look at Nissan's effort to conserve cash in the short term, even if that means paying suppliers more down the line. The emails were exchanged among Nissan employees in Britain and the EU, including staff in its purchasing and treasury departments, according to their profiles on LinkedIn. One employee told co-workers in emails this month that suppliers were 'again' being asked for an extension of payment terms. It was in line with the aim to bolster free cash flow 'requested from CEO top down', the employee told colleagues.
Arabian Post
26-06-2025
- Business
- Arabian Post
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 ADVERTISEMENT 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. ADVERTISEMENT 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.
The Sun
26-06-2025
- Business
- The Sun
HONMA Golf Announces Annual Results for FY2024/25
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. '
