The Japanese group generated more than ¥200 billion in quarterly sales for the first time.
For Asics Q1 operating profit rose by 32 percent to ¥44,511 million (€271.0m) as revenues increased by 19.7 percent to ¥208,313 million (€1.27b) for the three months ended March 31. Gross margin rose by 130 basis points to 55.8 percent, despite negative currency impacts.
| Asics - Income | |||
|---|---|---|---|
| Q1, ended March 31 (￥ million) | |||
| 2025 | 2024 | Change | |
| Net sales | 208,313 | 174,102 | 19.6% |
| Cost of sales | 91,990 | 79,254 | 16.1% |
| Gross profit | 116,322 | 94,847 | 22.6% |
| SG&A expenses | 71,810 | 61,034 | 17.7% |
| Operating profit | 44,511 | 33,812 | 31.6% |
| Non-operating income | 1,640 | 1,636 | 0.2% |
| Non-operating expenses | 2,775 | 2,372 | 17.0% |
| Ordinary profit | 43,376 | 33,076 | 31.1% |
| Extraordinary income | 12 | 1 | 1100.0% |
| Extraordinary losses | 6 | 15 | -60.0% |
| Pre-tax | 43,382 | 33,062 | 31.2% |
| Tax | 11,654 | 6,239 | 86.8% |
| Profit | 31,727 | 26,823 | 18.3% |
| Source: Asics | |||
Category results
Fueled by strong sales across major regions, the Performance Running segment generated a 13.9 percent increase in operating profit to ¥26,157 million (€159.2m) from an 11.4 percent increase in sales to ¥98,003 million (€596.6m).
The Core Performance Sports category suffered a 4.9 percent drop in operating profit to ¥6,086 million (€37.0m) due to higher expenses. Segment sales grew by 2.5 percent to ¥25,497 million (€155.2m).
Elsewhere, the Apparel/Equipment segment realized a 57 percent improvement in operating income to ¥1,630 million (€9.9) and 10.9 percent gain in quarterly sales to ¥10,339 million (€62.9m). The Sportstyle category produced a 57 percent increase in operating income to ¥11,141 million (€67.8m) and 50 percent gain in sales to ¥35,144 million (€213.9m). Onitsuka Tiger operating profit was 60 percent higher year-over-year at ¥10,324 million (€62.8m) on 57 percent revenue growth to ¥28,325 million (€172.4m).
| Asics - Sales | |||
|---|---|---|---|
| Q1, ended March 31 (￥million) | |||
| 2025 | 2024 | Change | |
| Regions | |||
| Japan | 50,559 | 40,079 | 26.1% |
| North America | 39,133 | 33,077 | 18.3% |
| Europe | 58,797 | 48,377 | 21.5% |
| Greater China | 29,011 | 23,870 | 21.5% |
| Oceania | 12,480 | 11,698 | 6.7% |
| Southeast & South Asia | 12,536 | 9,171 | 36.7% |
| Others | 12,900 | 12,711 | 1.5% |
| Categories | |||
| Performance Running | 98,003 | 87,894 | 11.5% |
| Core Performance Sports | 25,497 | 24,884 | 2.5% |
| Apparel & Equipment | 10,339 | 9,325 | 10.9% |
| SportStyle | 35,144 | 23,493 | 49.6% |
| Onitsuka Tiger | 28,325 | 18,024 | 57.2% |
| Source: Asics | |||
Regional results
Sales in Europe rose 21.5 percent to ¥58,797 million (€357.9m) as the region generated a 22.5 percent improvement in operating income to ¥11,865 million (€72.2m). In North America, quarterly operating profit increased by 66 percent to ¥5,772 million (€35.1m) and 18 percent sales growth to ¥39,133 million (€238.2m). Greater China sales rose by 21.5 percent to 29,011 million (€176.6m) as the region’s operating profit gained 17.3 percent to ¥6,786 million (€41.3m).
Elsewhere, Oceania profitability dipped by 12 percent to ¥2,213 million (€13.5m) despite 6.7 percent sales growth to ¥12,480 million (€76.0m). In Southeast/South Asia, profitability increased by 36.8 percent to ¥3,061 million (€18.6m) as revenues increased by 36.7 percent to ¥12,536 million (€76.3m).
Current FY outlook
Asics Corp. is forecasting 19.9 percent improvement in year-over-year operating profit to ¥120,000 million (€730.5m) from 15.0 percent revenue growth to ¥780,000 million (€4.7b). Annual estimated net profit attributable to the parent is currently estimated at ¥78,000 million (€474.8m).
