ASICS’s net profit hits a new high for three consecutive years from January to March

The consolidated financial report for January to March 2025 released by ASICS Japan on May 15 showed a net profit of 31.6 billion yen, an increase of 18% year-on-year. Calculated from January to March, it has set a new record for three consecutive years. Sales of high-priced “sports-style” daily lightweight sports shoes and running shoes have increased in Japan and abroad. In particular, sales of the high-end brand “Onitsuka Tiger” business have increased by 60% worldwide.

Net profit is 2.2 billion yen (7.6%) higher than the recent market forecast average (Quick Consensus). ASICS President Mitsuyuki Tominaga, who held an online press conference on the 15th, said that not only January to March, but also the quick report value for April showed strong sales. We will strive to achieve our goal of becoming the world’s No. 1 shoe manufacturer in the running field.”

The company’s operating income for January-March increased by 20% to 208.3 billion yen, the first time it exceeded 200 billion yen for January-March. Operating profit reached 44.5 billion yen, an increase of 32%. The operating profit margin increased by 2 percentage points to 21.4%. The strategy of reducing sales of entry-level models and focusing on high-priced models has taken effect. The number of members of the official online membership service increased, and the operating income of the e-commerce business with higher profit margins increased by 20%.

By region, Japan’s operating income, which captures the demand of foreign visitors to Japan, increased by more than 30%. Europe and the Chinese circle also performed strongly.

On the 15th, regarding the countermeasures considering the impact of US tariffs, Asics Managing Executive Director and Chief Financial Officer (CFO) Koji Hayashi explained that “production for the United States is being accelerated, and measures such as early shipments are being taken in cooperation with shipping companies.” The United States accounts for about 7% of the company’s operating profit. Koji Hayashi also expressed the view that this proportion is lower than that of Japan and Europe, and the impact of tariffs can be absorbed by increasing sales in other regions and reducing costs.