Asics Corporation ( (ASCCF) ) has released its Q3 earnings. Here is a breakdown of the information Asics Corporation presented to its investors.
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ASICS Corporation, a renowned global manufacturer of sporting goods, specializes in footwear and apparel, and is listed on the Tokyo Stock Exchange. In its latest earnings report for the nine months ending September 30, 2024, ASICS Corporation showcased significant growth across all major financial metrics. Net sales surged by 17.3% year-over-year to ¥525,454 million, while operating profit rose by a remarkable 64% to ¥91,523 million. Profit attributable to owners of the parent also increased by 61.2% to ¥64,940 million, underscoring robust performance across its business segments.
The company’s financial performance was buoyed by strong sales in the Performance Running and SportStyle categories, with notable growth in regions such as North America and Greater China. The SportStyle category, in particular, saw an impressive 63.4% increase in net sales, driven by robust demand across all regions. ASICS also experienced significant growth in its Onitsuka Tiger category, with net sales rising 52.7%. The company’s inclusion in major stock indices and an upgraded issuer rating from Rating and Investment Information, Inc. (R&I) from A to A+ further highlighted its strengthened market position.
ASICS’s strategic initiatives, including the sale of cross-shareholdings and the acquisition of treasury stock, reflect its commitment to enhancing shareholder value. The company’s financial position remains strong, with total assets rising to ¥488,389 million, and an improved equity-to-asset ratio of 44.3%. The company’s decision to increase its annual dividend per share is a testament to its confidence in continued profitability and growth.
Looking ahead, ASICS Corporation remains optimistic about achieving its Mid-Term Plan 2026 targets ahead of schedule, with plans to revise its targets and strategy in 2026. The company aims to leverage its strong market presence and continue supporting athletes through research and innovation in its product lines. ASICS’s focus on strengthening its relationship with individual investors and expanding its global footprint positions it well for sustained growth in the coming years.
