Asics reported sales in its North American region fell 11.9 percent in the fourth quarter and were down 17.2 percent in the year, but forecast a return to double-digit growth in 2021.
Sales in the quarter reached ¥16,579 million ($158 mm) against ¥18,818 million a year ago. The figures were obtained by subtracting nine-month results from full-year results. The segment showed an operating loss of ¥1,882 million ($18 mm) for the quarter, down from a loss of ¥2,116 million in the same period a year ago.
For the year, sales in the North American region were down 17.2 percent to ¥65,377 million ($623 mm) from ¥78,959 million a year ago. The decline was attributed to “the impact of the spread of COVID-19.” The year’s segment loss was ¥4,548 million ($43 mm), down from a loss of ¥5,969 million a year ago.
Looking ahead, Asics’ corporate statement said it expects North American sales to bounce back in 2021 to reach ¥78.5 billion, which would represent a gain of 20.1 percent versus 2020.
Companywide, sales in the quarter were down 12.3 percent to ¥80,578 million. The operating loss widened to ¥7,232 million from ¥2,043 million a year ago. The net loss was ¥12,718 million against earnings of ¥169 million a year ago.
For the year, sales were down 13.0 percent to ¥328,784 million. The operating loss was ¥3.95 million against earnings of ¥10.6 million. The net loss was ¥16.1 million against net earnings of ¥7.1 million.
In its other major regions, sales in Japan were down 18.1 percent to ¥23,411 million for the quarter. The region’s loss was ¥2,152 million against a loss of ¥362 million a year ago. For the year, sales in Japan were down 22.0 percent to ¥94,398 million. The operating loss was ¥3,791 million against earnings of ¥4,895 million a year ago.
In Europe, sales in the quarter fell 21.6 percent to ¥18,913 million. The loss came to ¥875 million against a profit of ¥797 million. Sales in the year were down 8.6 percent to ¥87,342 million. Earnings grew 59.5 percent to ¥4,572 million.
In Greater China, sales in the quarter improved 5.5 percent to ¥10,162 million. Operating earnings reached ¥47 million against earnings of ¥254 million a year ago. For the year, sales were up 4.2 percent to ¥41,118 million, while operating earnings were down 20.3 percent to ¥4,305 million.
For 2021, companywide sales are projected in the range of ¥370.0 and ¥385.0 million, representing a gain of 12.5 percent to 17.1 percent. In other major regions, an increase of 17.1 percent to 32.9 percent is forecast in Japan. Sales are forecast to expand 7.1 percent in Europe and 4.6 percent in Greater China.
Photo courtesy Asics
