Asics has improved its guidance for the past financial year, due to better-than-expected results in the Performance Running and Core Performance Sports categories, as well as in Europe and Greater China. Higher sales and operating results than previously forecast should lead the company to report a net profit of around 9,000 million yen (€69.6m-$78.7m) for the year ended Dec. 31, up from previous guidance of ¥5,000 million and compared with a loss of ¥16,126 million in the previous year.
The company said its sales reached a level of around ¥400 billion (€3.09bn-$3.50bn) in the past year, up from a Nov. 5 forecast of ¥385 billion and compared with ¥328.8 billion in 2020. The operating income for the year should reach ¥21,500 million (€166.3m-$188.1m) rather than ¥20,000, as compared to the operating loss of ¥3,953 milllion booked in 2020. The ordinary income is seen at ¥22,000 million (€170m-$190m), better than the previously predicted level of ¥19,000 million and compared with a loss of ¥6,923 million in the prior year.
On the other hand, the recoverable amount of deferred tax assets is going to be adjusted because Ascis’ future performance is likely to exceed the targets set last February for the company’s Mid-Term Plan 2023.
