For the first quarter ending June 30, Asics Corp. saw net sales increase 21.3% to ¥51.7 billion ($452.8 million) from ¥42.6 billion ($396.5 million) last year. Gross margin for the company improved 280 basis points to 45.8% of net sales from 43.0% during the first quarter of last year. However, overall net income actually decreased 3.7% to ¥5.6 billion ($49.7 million) for the quarter, from ¥5.8 billion ($54.3 million) last year.
Regionally, sales in Japan increased 1.9% to ¥19.1 billion ($168.7 million) from ¥18.7 billion ($174.4 million) last year. Overall international sales increased 36.6% to ¥32.6 billion ($288.1 million) from ¥23.9 billion ($222.1 million) last year. In the U.S. sales increased 51.9% to ¥11.9 billion ($105.1 million) from ¥7.8 billion ($72.9 million) last year, while European sales increased 28.1% to ¥18.6 billion ($164.7 million) from ¥14.5 billion (135.4 million) in Q1 2005. All other regions saw sales increase 40.0% to ¥2.1 billion ($18.3 million) from ¥1.5 billion ($13.8 million) last year.
Sales of shoes increased 27.4% to ¥36.7 billion ($324.6 million) from ¥28.8 billion ($268.4 million) during last year’s quarter. Apparel sales increased 16.2% to ¥10.6 billion ($94.1 million) from last year’s ¥9.2 billion ($85.3 million). Equipment sales decreased, however, down 6.3% to ¥4.3 billion ($38.1 million) from ¥4.6 billion ($42.9 million) last year.
