ASICS raised its full year forecast to a record ¥1.05tn and, at the same board meeting, resolved to wind up the subsidiary that sold ¥77.4bn of shoes last year
¥1.05tn. That is what ASICS now expects to sell this year, and the company says it would be a record.
The forecast published on Friday lifts revenue for the year ending December 2026 from ¥950,000m to ¥1,050,000m, operating profit from ¥171,000m to ¥195,000m, ordinary profit from ¥165,000m to ¥189,000m and profit attributable to owners of the parent from ¥110,000m to ¥120,000m. The forecast it replaces was set on 13 February. Against last year, in which ASICS made revenue of ¥810,916m and operating profit of ¥142,519m, the new numbers are a rise of 29.5 percent and 36.8 percent.
The half that produced it
Revenue for the six months to June was ¥534,483m, up 32.7 percent. Operating profit was ¥120,486m, up 48.5 percent, and profit attributable to owners was ¥82,171m, up 53.3 percent. The interim results announcement also gives the same period with the exchange effect taken out, and it is still large: revenue up 22.0 percent and operating profit up 37.7 percent. For the full year on the same basis the company shows revenue up 22.6 percent and operating profit up 30.0 percent.
Part of the raise is the rate
The revision notice carries a reference table of the assumed exchange rates behind the old forecast and the new one. The dollar moves from ¥150 to ¥160, the euro from ¥170 to ¥180 and the renminbi from ¥21 to ¥23.
ASICS names three things in its reason for the revision and the rate change is one of them. The other two are the strength of the first half and the expectation that Onitsuka Tiger, centred on Japan, and SportStyle, centred on Europe, keep performing in the second half. The notice does not say how much of the ¥100,000m raise belongs to which, and no such split is offered here.
The dividend
The interim dividend is ¥20.00 a share against a 30 June record date, ¥2 above the February forecast and ¥8 above last year, payable from 20 August and worth ¥14,178m in total. The year end forecast rises by ¥4, to ¥24.00. That takes the annual figure to ¥44.00, against ¥38.00 forecast in February and ¥28.00 actually paid for 2025.
The subsidiary that goes
The same board meeting resolved a policy to dissolve and liquidate ASICS Shoji Co., Ltd., a wholly owned company in Suma ward, Kobe, established on 24 January 1955, which sells sports shoes and general shoes in Japan and abroad and pays ASICS royalties on the ASICS brand products it sells.
It was not a failing company. On its own account it made revenue of ¥51,941m in 2023, ¥72,116m in 2024 and ¥77,440m in 2025, with operating profit rising across the three years to ¥5,885m and net income of ¥4,315m last year. Net assets at the end of 2025 were ¥28,155m.
The reason ASICS gives is strategic rather than financial. All of the subsidiary's business and operations move to ASICS Corporation or to ASICS Japan, the notice says, in order to accelerate the global growth of the walking business and to run one walking strategy across the brand, and the company is then wound up. No date is given for any of it.
The cost is already in the accounts. The interim consolidated figures carry ¥6,717m of transition support and related costs as an extraordinary loss, and the notice says the full year forecast published the same day includes the costs of the transfer and of ending the company. What is not yet in anything is the rest: ASICS says the profit and loss arising up to the completion of the liquidation is still being examined, and that it will revise the forecast again if it needs to.
