Asics Corp. in a regulatory filing increased its sales and earnings guidance for its year ended December 31. The Japanese-based company cited a better-than-expected performance in Performance Running and Core Performance Sports, as well as in Europe and Greater China.
The updated forecast includes:
- Sales are now expected to be ¥400,000 million, up from a previous forecast of ¥395,000 million and against prior-year levels of ¥328,784 million;
- Operating income is expected to be ¥21,500 million, up from a previous forecast of ¥20,000 million and against a prior-year operating loss of ¥3,953 million;
- Ordinary income is expected to be ¥22,000 million, up from a previous forecast of ¥19,000 million and against a prior-year loss of ¥6,923 million; and
- Net income is expected to be ¥9,000 million, up from a previous forecast of ¥5,000 million and a prior-year loss of ¥16,126 million.
Asics said in its statement, “In terms of categories, Performance Running and Core Performance Sports performed better than the previous forecast. By regional perspective, Europe and Greater China exceeded the previous forecast. In addition, the company revised the consolidated business results forecast of net sales, operating income, ordinary income, and profit attributable to owners of the parent because of the additional booking of deferred tax assets since the business performance in the future is expected to exceed the Mid-Term Plan 2023 announced last February and the recoverable amount of deferred tax assets based on estimated taxable income in future years is scheduled to increase from 2022 onward.”
The previous forecast was provided on November 5. Asics is expected to report fiscal results around January 11.
Photo courtesy Asics
