With healthy performances in the Americas and Europe, Asics Corp. reported sales on an adjusted basis grew 22.1 percent in the half ended Sept. 30, to ¥265.1 billion ($2.3 billion). On a currency-neutral (c-n) basis, revenues rose 13.8 percent. The better-than-expected performance prompted Asics to raise its outlook for the year.

Adjusted results reflect Asics change in its fiscal year from March 31 to December 31. Because of the transitional period, net results in the latest half in the domestic group companies except Haglöfs Japan covered six months from Apr. 1 to Sept. 30, while overseas group companies including Haglöfs Japan covered nine months from Jan. 1 to Sept. 30.  As a result, net sales in the six months rose 72.4 percent, to ¥265.1 billion ($2.3 billion). Net income reached ¥24.5 billion ($212.4 mm), or ¥122.19, more than triple the ¥7.92 billion, or ¥41.79, netted a year ago.

Adjusted results replace the comparison period with the synchronized year-ago period in order to make the comparison under the same conditions with the current period.

On an adjusted basis, net earnings still jumped a robust 42.2 percent in the six months to ¥24.5 billion ($212.4 mm), or ¥122.19. Operating earnings rose 24.2 percent to ¥33.0 billion ($286.4 mm). Gross margins were flat at 45 percent while SG&A increased slightly to 32.8 percent from 32.6 percent.

In the Americas region, sales on an adjusted basis rose 27.6 percent in the half to ¥89.7 billion ($776.6 mm). On a c-n basis, sales rose 17.9 percent, led by gains in running shoes and running apparel. Adjusted operating income rose 33.2 percent to ¥10.9 billion ($94.2 mm) and improved 23.1 percent on a c-n basis.

Breaking down categories in the Americas, Running Shoes rose 26.1 percent to ¥77.9 billion ($669.9 mm) and gained 16.5 percent on a c-n basis. Athletic Shoes jumped 25.7 percent to ¥7.11 billion ($61.1 mm) and gained 16.1 percent on a c-n basis. Onitsuka Tiber shoes leapt 41.3 percent to ¥2.45 billion ($21.1 mm) and grew 30.5 percent on a c-n basis. Running Wear in the Americas region reached ¥3.7 billion ($31.8 mm) a gain of 78.7 percent overall and 65.1 percent on a c-n basis. Athletic Wear sales were ¥1.19 billion ($10.2 mm), a gainsof 8.5 percent overall and 0.3 percent on a c-n basis.

In other regions, sales in the EMEA region on an adjusted basis climbed 24.3 percent to ¥82.5 billion ($715.0 mm) and were up 12.3 percent on a c-n basis. Adjusted operating income was up 12.2 percent to ¥8.88 billion ($76.9 mm) and added 1.3 percent on a c-n basis.

In Japan, sales increased 0.2 percent in the half to ¥55.8 billion ($484.3 mm). The gain came despite a decline in footwear sales to overseas sales subsidiaries due mainly to steady sales of running shoes and Onitsuka Tiger shoes. However, segment income decreased 12.2 percent to ¥1.25 billion ($10.8 mm) due mainly to an increase in SG&A expenses resulting from new openings of directly managed stores and an increase in amortization of goodwill resulting from an additional acquisition of the shares of subsidiaries in the previous fiscal year.

In the Oceania/South East and South Asia areas, sales on an adjusted basis climbed 23.6 percent to ¥13.49 billion ($116.8 mm) and gained 21.7 percent on a c-n basis. Segment income inched up 2.6 percent to ¥2.5 billion ($21.6 mm) and were up 1.3 percent on a c-n basis.

East Asia area sales reached ¥23.1 billion (200.3 mm), a gain of 38.9 on an adjusted basis. Sales were up 23.6 percent on a c-n basis. Segment income on an adjusted basis vaulted 61.6 percent to ¥2.2 billion ($19.0 mm) and were up 47.7 on a c-n basis.

Other Business sales-including Haglöfs – were ahead 15.1 percent on an adjusted basis to ¥9.1 billion ($78.9 mm), and 9.3 percent on a c-n basis. The segment loss was ¥252 million ($2.2 mm), lower than the adjusted loss of ¥406 million in the year-ago period.

Among categories on a global basis, footwear sales grew 24.1 percent to ¥214.1 billion ($1.84 bn) and gained 15.2 percent on a c-n basis. Apparel revenues grew 16.8 percent to ¥38.6 billion ($332.0 mm) and advanced 10.2 percent on a c-n basis. Equipment sales rose 8.2 percent to ¥12.4 billion ($106.3 mm) and added 3.8 percent on a c-n basis.

In a statement, Asics said the first half was steady in the sporting good industry on the back of a high level of interest in sports owing to rising health consciousness as well as a running boom. In the U.S., which is one of the highest priority areas for the Asics Group, the footwear market and others continued to show steady growth.

The running category was boosted by the launch of the Gel-Nimbus 16 and Gel-Cumulus 16, and market outreach efforts such as its sponsorship of the Paris, Stockholm, and Gold Coast marathons, and supporting a trail running event.

In athletic sports business, Asics launched replica jerseys of the South African and Australian national rugby teams. It also supplied products for use by wrestlers representing their countries (in total, six countries) at the 2014 World Wrestling Championship held in Uzbekistan. It also supplied eight countries and one region at the 17th Asian Games INCHEON 2014 held in the Republic of Korea.

The Onitsuka Tiger business launched designer collaborations as part of its Nippon Made series. Asics also opened 46 stores including directly managed Asics brand stores in Melbourne (Australia), Tsukuba (Japan), Madrid (Spain), and a directly managed Onitsuka Tiger brand store in Melbourne (Australia).

For the full year, Asics raised its forecast to ¥345.0 billion, up from ¥335.0 billion previously. The forest for the Americas region was raised to ¥113.9 million from ¥109.4 milion previously. Guidance was also raised in all other regions except Japan and its Other Businesses segment.

On an adjusted basis, global sales are now expected to grow 16.7 percent. The gain is expected to be led by East Asia, up 32.1 percent; followed by the Americas, 20.5 percent; EMEA, 19.9 percent; Oceania/Southeast and South Asia, 16.5 percent; Other Business, 6.5 percent; and Japan, 3.5 percent

Net income is now expected to reach ¥20 billion, up from ¥17.5 billion. Operating earnings are forecasted to reach ¥29.0 billion against ¥27.5 billion previously.