Asics intends to provide details on its strategy for the Sportstyle business, whose sales doubled in Greater China over the period. Additionally, as a follow-up to its strong nine-month results, the company will revise its FY26 financial targets shortly.
Operating profit rose by 64.0 percent to ¥91,523 million (€552.9m) from ¥55,805 million for the nine months ended Sep. 30. Profit attributable to the parent increased by 61 percent to ¥64,940 million (€393.3m) as total revenues surged by 17.3 percent to ¥525,454 million (€3.17b) from ¥448,105 million. Implied Q3 results show 47 percent profitability growth to ¥22,721 million (€137.3m) from 16 percent revenue improvement to ¥183,255 million (€1.1b).
Asics, which is relocating its corporate headquarters in Kobe, Japan in January 2028 to commemorate its 75th anniversary, currently expects its FY24 operating profit to increase by 84 percent to ¥100,000 million (€604.1m) and net profit to jump by nearly 79 percent to ¥63,000 million (€380.6m) on 19 percent revenue expansion to ¥680,000 million (€4.11b).
Nine-month segment breakout
Performance Running sales increased by 13.7 percent to ¥258,277 million (€1.56b) year-over-year and generated a 37.7 percent gain in segment profit to ¥61,390 million (€370.9m). The Core Performance Sports business, meanwhile, had a modest 1.3 percent gain in profitability to ¥13,168 million (€79.6m) from 6.3 percent revenue improvement to ¥64,884 million (€392.0m).
The Sportstyle segment, buoyed by strong growth in both North America and the Greater China region, had a nearly 104 percent profit gain to ¥21,119 million (€127.6m) on 63 percent sales expansion to ¥75,085 million (€453.6m). Onitsuka Tiger’s nine-month sales rose by 52.7 percent to ¥68,535 million (¥414.1m) as its segment profit jumped 101 percent to ¥26,003 million (€157.1m). Meanwhile, the segment profit for Apparel/Equipment came in 80.5 percent higher year-over-year to ¥3,639 million (€22.0m) on 4.0 percent sales growth to ¥29,130 million (€176.0m).
Regional sales details
The EMEA reported a 56 percent improvement in nine-month operating profit to ¥23,896 million (€144.4m) on a 17.1 percent sales increase to ¥143,101 million (€864.5m).
In North America, segment operating profit jumped by a whopping 450 percent to ¥11,141 million (€67.3m) on 19 percent sales improvement to ¥104,244 million (€629.8m).
Greater China segment profit moved 35 percent year-over-year to ¥17,578 million (€106.2m) from a 27.5 percent sales gain to ¥78,262 million (€472.8m).
Segment profit in the home Japan market soared 86 percent year-over-year to ¥20,877 million (€126.1m) on 22 percent sales expansion to ¥124,191 million (€750.3m).
Elsewhere, Southeast/South Asia profitability rose by 38 percent to ¥6,629 million (€40.0m) on 34.0 percent sales growth to ¥28,739 million (€173.6m). Other regions, meanwhile, realized 36 percent profitability growth to ¥6,160 million (€37.2m) but a 6 percent drop in sales to ¥36,271 million (€219.1m) due to the Dec. 2023 divestiture of Haglofs AB.
