ASICS plans to open a subsidiary in Brazil. The Japanese company’s revenues increased by 15 percent to 95.40 billion yen (€623.9m-$817.4m) in its 1st half ended Sept. 30, net income fell by 8 percent to ¥7.02 billion (€45.9m-$60.1m). The company did not provide details about its operating results, but said the decrease in net earnings was the result of a 52 percent hike in taxes. Sales were flat in the Japanese company’s domestic market at ¥38.07 billion (€249.0m-$326.2m), while in Europe they rose by 20 percent to ¥30.66 billion (€200.5m-$262.7m). Turnover in the USA jumped by 40 percent to ¥22.68 billion (€148.3m-$194.3m) and everywhere else they climbed by 46 percent to ¥3.99 billion (€26.0m-$34.2m). In constant currencies, sales were up by 28 percent in the USA and by 17 percent in Europe. Growth in both regions was driven by running shoes. For full financial year ending next March 31, sales are estimated to be ¥190 billion (€1,242m-$1,628m) with earnings of ¥12 billion (€78.5m-$102.8m).