Asics Corp. raised its outlook for the year after reporting net earnings rose 53.3 percent in the first six months on a 32.7 percent sales surge. On a currency-neutral basis, sales in the half grew 22.0 percent, fueled by gains of 29.7 percent in Europe,  19.6 percent in North America, and 17.6 percent in Greater China.

In the six months ended June 30, net sales climbed to ¥534.4 billion ($3.4 bn) from ¥402,798 million a year ago. The period marked the first time that Asic’s interim net sales in the half exceeded ¥500.0 billion. Both operating profit and operating margin achieved their highest ever levels of ¥120.4 billion (up 48.5 percent) and 22.5 percent (up 2.4 ppt), respectively

Ordinary profit in the six months climbed 48.3 percent to ¥116,598 million. Profit attributable to owners of the parent jumped 53.3 percent to ¥82,171 million.

Second-Quarter Performance
Subtracting first-quarter results from six-month results shows net sales in the second quarter totaled ¥264,218 million ($1.7 bn) against ¥194,485 million, representing a gain of 35.9 percent. Operating profits was ¥59,724 million, up 63.1 percent. Net profit amounted to ¥35,602 million, climbing 62.1 percent.

Among its major regions in the second quarter, sales in Japan declined 3.9 percent to ¥46,820 million ($295 mm), although operating profits in the region gained 28.6 percent to ¥14,093 million. Sales in North America totaled ¥46,543 million ($293 mm) in the quarter, up 33.8 percent. Operating profits in North America surged 183 percent to ¥12,697 million from ¥4,486 million.

In Europe, sales in the second quarter grew 49.2 percent to ¥82,028 million ($517 mm) while operating profits improved 75.3 percent to ¥16,482 million. In China, sales in the second quarter were up 32.8 percent to ¥43,852 million ($276 mm) while operating earnings advanced 6.5 percent to ¥8.7 million.

Regional Performance In Six Months

  • Japan region net sales increased by 6.9 percent in the half to ¥106,094 million due to the strong sales in all categories, particularly Onitsuka Tiger. Segment profit increased by 32.2 percent to ¥28,595 million mainly due to an improvement in gross margin, as well as due to the impact of an increase in net sales.
  • North America region net sales increased by 28.1 percent to ¥94,696 million due to the strong sales in all categories, particularly SportStyle. Segment profit increased by 86.0 percent to ¥19,079 million mainly due to the impact of an increase in net sales.
  • Europe region net sales increased by 46.4 percent to ¥166,600 million due to the strong sales in all categories, particularly SportStyle. Segment profit increased by 63.1 percent to ¥34,693 million mainly due to the impact of an increase in net sales.
  • Greater China region net sales increased by 30.7 percent to ¥81,048 million due to the strong sales in all categories, particularly SportStyle. Segment profit increased by 32.0 percent to ¥19,797 million mainly due to the impact of an increase in net sales.
  • Oceania region net sales increased by 35.0 percent to ¥28,964 million due to the strong sales in all categories, led by Performance Running and SportStyle. Segment profit increased by 14.2 percent to ¥3,830 million mainly due to the impact of an increase in net sales.
  • Southeast and South Asia regions Net sales increased by 33.9 percent to ¥31,492 million due to the strong sales in all categories, particularly Performance Running. Segment profit increased by 40.4 percent to ¥7,630 million mainly due to the impact of an increase in net sales.
  • Other regions net sales increased by 30.7 percent to ¥32,271 million due to the strong sales in all categories, led by Performance Running. Segment profit increased by 30.0 percent to ¥5,665 million mainly due to the impact of an increase in net sales.

Asics said in its statement about its regional performance, “By region, net sales and profit increased across all regions. At Asics Japan, partly due to the expansion of inbound demand centered on Onitsuka Tiger, net sales increased by 23.8 percent year on year, and the operating margin rose significantly to 33.4 percent, (up 3.4 ppt). In July, in addition to the aforementioned “Onitsuka Tiger Shinjuku,” we opened “Asics Flagshiip Shinjuku” our second Asics flagship store in Japan. In Europe, in addition to the significant growth of SportStyle (up 100.3 percent) and Onitsuka Tiger (up 66.5 percent), other categories also showed strong growth. Net sales increased by 46.4 percent, and operating margin improved by 2.1 ppt to 20.8 percent. In Southeast and South Asia, as sales grew particularly in e-commerce, net sales increased by 33.9 percent year on year and operating margin further improved by 1.1 ppt to 24.2 percent.”

Category Performance In Six Months

  • Performance Running net sales increased by 19.3 percent to ¥220,652 million due to the strong sales in all regions, particularly in the Europe region. Category profit increased by 24.8 percent to ¥58,082 million mainly due to the impact of an increase in net sales.
  • Core Performance Sports net sales increased by 24.9 percent to ¥55,111 million due to the strong sales in all regions, led by the Japan region and the Europe region. Category profit increased by 40.2 percent to ¥13,109 million mainly due to the impact of an increase in net sales.
  • Apparel net sales increased by 28.1 percent to ¥25,629 million due to the strong sales in all regions, particularly in the Europe region. Category profit increased by 40.2 percent to ¥4,298 million mainly due to the impact of an increase in net sales.
  • SportStyle net sales increased by 83.0 percent to ¥123,186 million due to the strong sales in all regions, led by the North America region and the Europe region. Category profit increased significantly by 103.0 percent to ¥41,923 million mainly due to the impact of an increase in net sales.
  • Onitsuka Tiger Net sales increased by 35.9 percent to ¥89,533 million due to the strong sales in the Japan region supported by growing demand from inbound tourists, as well as the strong sales in all regions. Category profit increased by 38.3 percent to ¥35,578 million mainly due to the impact of an increase in net sales.
  • Walking net sales increased by 9.8 percent to ¥8,657 million mainly due to the strong sales in the Japan region. Category profit increased significantly by 141.4 percent to ¥1,502 million mainly due to an improvement in gross margin, as well as due to the impact of an increase in net sales.

Asics said in its statement, “By category, net sales and profit increased across all categories. The continued focus on high-end products in Performance Running resulted in an increase in net sales to ¥220.6 billion, (up 19.3 percent). In particular, significant growth was achieved in Europe, Oceania, and Southeast and South Asia. In addition to the continued strong performance of the Bounce series, the Gel-Kayano 33, launched in June, also got off to a solid start. Looking ahead to the third quarter and beyond, in addition to the launch of the Novablast 6 in July, we plan to launch the Metafuji 2 trail running shoe in August, and we expect further growth. Against the backdrop of – 3 – continuous growth in Europe and North America, SportStyle recorded net sales of ¥123.1 billion, (up 83.0 percent), with growth momentum accelerating further. The category profit margin also increased further to 34.0 percent (up 3.3 ppt). While mainstay products continued to drive growth, sales of new products such as the Gel-Cumulua 16 and Gel-NYC 2.0 were also strong, as the diversification of growth drivers progressed. Net sales for Onitsuka Tiger increased to ¥89.5 billion, (up 35.9 percent), as double-digit increases were recorded in all regions and steady growth was achieved. The gross margin remained at a high level, and category profit margin increased by 0.6 ppt to 39.7 percent.”

Major Initiatives During The Six-Month Period
Asics said, “The Onitsuka Tiger brand is gaining a stronger presence worldwide. On June 10, we announced the spin-off of Onitsuka Tiger. We have decided that, effective January 1, 2027, the business related to the Onitsuka Tiger brand will be spun off from ASICS Corporation and succeeded by OT Group Corporation (hereinafter OT Group). In addition, we will spin off the Onitsuka Tiger businesses of our regional operating companies in each country and reorganize them as subsidiaries of OT Group. As a result, Onitsuka Tiger will transition to a more independent operating structure, with the aim of achieving further growth through rapid decision-making and the establishment of its position as a more refined luxury lifestyle brand. On the other hand, functions that are the source of the Asics Group’s competitiveness, such as R&D, information technology, and intellectual property, will continue to be shared to maintain the efficiency of the Group as a whole

“In July, we opened “Onitsuka Tiger Shinjuku,” the world’s largest Onitsuka Tiger global flagship store, in Shinjuku, Tokyo, and in August, we opened the “Onitsuka Tiger Nagoya” flagship store in Nagoya, Aichi. In addition, we plan to re-enter the U.S. market in 2027. Please look forward to Onitsuka Tiger’s future developments as it aims for sustainable growth under this new structure. From June 11 to 15, we held the “Asics Global Tennis Summit” at the “Mouratoglou Tennis Academy” in Nice, southern France, to announce Asics’ global tennis strategy. Approximately 100 guests attended the event to experience the Asics brand’s worldview and technology. At this event, ASICS Europe B.V., the regional holding company for Europe, announced the establishment of “Asics Institute of Sport Science Europe” (hereinafter ISS Europe Asics), its European R&D division. ISS Europe will focus primarily on the CPS category, including tennis, and will conduct testing and other activities with local athletes, serving to complement the research functions of the Asics Institute of Sport Science. To mark the launch of this institute, we entered into a strategic partnership with “HumanFab”, an advanced center with research facilities and specialized expertise related to sports. These initiatives are part of ASICS’ efforts to strengthen its global R&D structure, following the establishment of “Asis Institute of Sport Science America LLC” in North America in December 2025. Since Asics Institute of Sport Science was established in 1985, Asics research operations had been based solely in Japan for approximately 40 years. Going forward, while maintaining Kobe as the core of its research, we will build a network in which global research centers collaborate organically to promote the transformation of R&D as a “Global Integrated Enterprise.”

“Asicshas designated 2026 as the “Year of Asias ” and is focusing its efforts on business growth in Asia. Approximately 200 Asics sponsored athletes are scheduled to compete in “Aichi-Nagoya 2026,” a sports festival bringing together athletes from across Asia, scheduled to be held in September and October. In addition, we have entered into a partnership agreement with the 5th Asian Para Games Aichi-Nagoya 2026 to support this event, which will be held in Japan for the first time. In addition to providing apparel, bibs, and other items for staff and volunteers at the Games, we plan to implement various initiatives, including hosting events, from before the games through the duration of the event in order to build excitement. We will support the performance of athletes and contribute to the realization of a sustainable, inclusive society through these activities.”

Outlook
Net sales have been revised upward from the previous forecast of ¥950.0 billion to ¥1,050.0 billion, operating profit from ¥171.0 billion to ¥195.0 billion, operating margin from 18.0 percent to 18.6 percent, and profit attributable to owners of parent from ¥110.0 billion to ¥120.0 billion.


Asics said, “Although global conditions remain uncertain, we have made this upward revision based on the strong performance in the first half of the fiscal year and the robust market momentum. For Asics, which aims for further growth, the first-time achievement of net sales of ¥1 trillion range and profit attributable to owners of parent of ¥100.0 billion range is now within sight, and a major milestone is just around the corner. As for shareholder returns, we plan to increase dividends in light of the upward revision to the full-year forecast. The interim dividend has been set at ¥20, a ¥2 increase from the previous forecast, and the year-end dividend is projected to be ¥24, a ¥4 increase from the previous forecast. The annual dividend forecast has risen from ¥38 to ¥44, an increase of ¥6 from the previous forecast.”

Image courtesy Asics Corporation