Consolidated Financial Statements For the First Quarter and the Three Months Ended March 31, 2026 (Japan GAAP)
May 13, 2026
Name of the Company: ASICS Corporation Listing Exchanges: Tokyo, Prime
Code No.: 7936
URL: https://corp.asics.com/en
Representative: Mitsuyuki Tominaga, President and COO, Representative Director Contact: Takashi Kobayashi, General Manager, Accounting Department
Tel. +81-50-1744-3104
Date of scheduled payment of dividend: －
Quarterly Results Supplemental Materials: Yes
Quarterly Results Presentation Meeting: Yes (For institutional investors, analysts, and press in Japan)
(Yen amounts are rounded down to millions, unless otherwise noted.)
Consolidated results for the three months ended March 31, 2026 (from January 1, 2026 to March 31, 2026)
Consolidated business results (Accumulated)
(Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Three months ended
Millions of Yen
%
Millions of Yen
%
Millions of Yen
%
Millions of Yen
%
March 31, 2026
270,265
29.7
60,762
36.5
58,775
35.5
46,569
47.2
March 31, 2025
208,313
19.7
44,511
31.6
43,376
31.1
31,647
18.4
(Note) Comprehensive income For the three months ended March 31, 2026: ¥54,842 million (174.0 %)
For the three months ended March 31, 2025: ¥20,018 million (-50.4 %)
(Reference information) The percentages of the increase (decrease) compared with the same period of the previous year on a currency-neutral basis:
Net sales 21.2% Operating profit 28.2%
Basic earnings per share
Diluted earnings per share
Three months ended
Yen
Yen
March 31, 2026
65.71
65.66
March 31, 2025
44.26
44.20
Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
As of
Millions of Yen
Millions of Yen
%
March 31, 2026
640,103
317,882
49.4
December 31, 2025
586,480
273,355
46.3
(Reference) Equity As of March 31, 2026: ¥316,104 million As of December 31, 2025: ¥271,517 million
Cash Dividends
Annual dividends per share
1st quarter-end
2nd quarter-end
3rd quarter-end
Fiscal year-end
Total
Fiscal year
ended December 31, 2025
ending December 31, 2026
Yen
-
-
Yen
12.00
Yen
-
Yen
16.00
Yen
28.00
ending December 31, 2026
(Forecast)
18.00
-
20.00
38.00
(Note) Changes in dividend forecast: No
Forecast of consolidated business results for the fiscal year ending December 31, 2026 (from January 1, 2026 to December 31, 2026)
(The full-year percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |
Full fiscal year | Millions of yen % 950,000 17.2 | Millions of Yen % 171,000 20.0 | Millions of Yen % 165,000 18.5 | Millions of Yen % 110,000 11.4 | Yen 153.91 |
(Note) Changes in forecast of consolidated business results: No
(Reference information) The percentages of the increase (decrease) compared with the previous fiscal year on a currency-neutral basis: Net sales 16.7% Operating profit 19.7%
* NotesChanges in significant subsidiaries during the period (changes in specified subsidiaries that caused changes in the scope of consolidation): None
Adopting accounting treatment simplified or specialized for quarterly consolidation: Yes
(Note) Please refer to Page 14, "(4) Notes for Consolidated Financial Statements, (Application of accounting treatment peculiar to three-month consolidated financial statement preparation)" for the details.
Changes in accounting policy, changes in accounting estimates, and changes in presentation due to revisions
Changes in accounting policy to conform to revisions in accounting standards and others: None
Changes in accounting policy adopted otherwise than in (i): None
Changes in accounting estimates: None
Changes in presentation due to revisions: None
Number of shares (of common stock) issued and outstanding
Number of shares outstanding (including treasury shares) at the fiscal end: As of March 31, 2026 734,482,236 shares
As of December 31, 2025 734,482,236 shares
Number of treasury shares at the fiscal end:
As of March 31, 2026 25,570,274 shares
As of December 31, 2025 25,846,871 shares
Average number of shares during the term:
Three months ended March 31, 2026 708,705,247 shares
Three months ended March 31, 2025 714,975,719 shares
Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: Yes (voluntary)
Explanation of appropriate use of business performance forecasts; other special items (Notes to the description about future, other)
The performance forecasts above are estimated based on information available as of the date hereof. This may cause actual results to differ from the stated projections due to changing business conditions or other factors. Please refer to page 8, "(4) Explanation on forecast of consolidated business results and others" for the forecast of consolidated business results.
(How to access supplemental materials)
The Company is scheduled to hold a conference call on business results for institutional investors, analysts, and press on Wednesday, May 13, 2026. We plan to post the materials used in the meeting on the Company's website (https://corp.asics.com/en/investor_relations/library/financial_summary) on Wednesday, May 13, 2026.
-
Qualitative information for consolidated business results
Forward-looking statements in the text are our estimation as of the end of the three-month period.
Major initiatives during the three-month period
Selamat siang (Hello)!
Declaring 2026 the "Year of ASIA," we are advancing various initiatives in different Asian regions. In March, with the goal of experiencing the potential of the Indonesian market first-hand, which is poised for growth, we welcomed approximately 20 people involved in the capital market led by COO Tominaga to tour our facilities. Indonesia has the world's fourth largest population at approximately 300 million, and its economy is enjoying steady growth. In this tour series, in addition to visiting stores and factories, the participants were able to experience the increased interest in sports in Indonesia through running and padel experiences. Every Sunday, Jakarta holds a "Car Free Day," turning roads into pedestrian-only zones filled with tens of thousands of people enjoying running and walking. Padel, which combines elements of tennis and squash, is also extremely popular and is already becoming established as a form of culture in Jakarta. The participants were able to experience the local passion for padel first-hand through their visit.
On April 5, the "ASICS EKIDEN India 2026," the first Ekiden in India was held by an executive committee composed of the Embassy of Japan in India and the Indian subsidiaries of Japanese companies in the Delhi National Capital Region, with approximately 1,000 runners joining the race. ASICS provided operational support as a title sponsor, and approximately 30 participants from ASICS India passed the sash among each team, with the venue buzzing from excitement. In addition to building momentum around running, through the original Japanese sport of Ekiden-races in which teams pass a sash through different stages-this event was a great opportunity for cultural exchange between India and Japan.
On April 13, we held our 14th Investment Day on the theme of our "Southeast Asia Strategy" and gave presentations on the business strategies of ASICS and Onitsuka Tiger. We invite you to look over the materials and videos, which are posted on our corporate site. We also invite you to continue to follow the further growth and excitement unfolding across the Asian region.
(Investment Day materials and videos posted here: https://corp.asics.com/en/investor_relations/library/investment-day)
For the three months ended March 31, 2026, net sales were ¥270.2 billion, increased by 29.7% year on year, operating profit was ¥60.7 billion, up 36.5%, and operating margin increased by 1.1ppt to 22.5%. Both net sales and operating profit achieved growth consecutively.
By category, net sales and profit increased across all categories. The focus on high-end products in Performance Running was successful, with net sales increasing to ¥116.7 billion, up 19.1%. The BOUNCE model, led by the SUPERBLAST 3 launched in February and the best-selling NOVABLAST 5, drove growth, with significant growth particularly in Europe and Southeast and South Asia. From the second quarter, we plan to successively launch new, innovative products for the STABILITY, CUSHION, BOUNCE, and TRAIL models. Against the backdrop of continuous growth in Europe and North America, SportStyle recorded net sales of ¥59.6 billion, up 69.6%, maintaining its strong growth momentum. The category profit margin also increased to 32.9%, up 1.2 ppt. We plan to roll out new stores dedicated to SportStyle and to continue to enhance our messaging around the brand. Net sales of Onitsuka Tiger increased to ¥37.8 billion, up 33.8%. The gross margins remained at a high level, and category profit margin further improved by 3.2 ppt to 39.6%. We are also planning to open a large-scale flagship store this summer in Japan.
By region, net sales and profit increased across all regions. ASICS Japan saw net sales increase by 22.0% due to strong sales to inbound tourists centered on Onitsuka Tiger. The operating margin significantly improved to 31.7%, up 3.2 ppt. In Europe, driven by steady growth in Performance Running, SportStyle increased by 85.6%, and Onitsuka Tiger increased by 55.8%, leading growth. Net sales increased by 43.8%, and operating margin improved by 1.3 ppt to 21.5%. In Southeast and South Asia, net sales increased by 34.6%, and operating margin improved by 1.9 ppt to 26.3%, driven by increased net sales mainly in India of Performance Running and Onitsuka Tiger, which have high profitability.
In March, the ASICS Los Angeles Marathon was held and our sponsored athletes performed strongly.
In the men's marathon, Nathan Martin from the US passed the lead runner in a final sprint to claim an amazing victory by just 0.01 seconds. In the women's marathon, Priscah Cherono from Kenya led for the entire race, winning with an overwhelming lead ahead of the second-place runner. As part of our promotion of the running ecosystem, at the ASICS Los Angeles Marathon, we worked to energize the community and to grow our OneASICS member base. Specifically, we created diverse touchpoints for runners including the community-building and training support program "LA100 Women," held on International Women's Day, and a group run event on the day prior to the marathon. We also carried out policies including drawings to win runner's bibs for OneASICS members. We will continue to enhance our activities to support the overall runner's journey from race registration until after they cross the finish line. At the international marathon held in Boston in April, John Korir from Kenya achieved his second straight win in the men's marathon,
while Alphonce Simbu from Tanzania finished in second place. In the women's marathon, Loice Chemnung from Kenya finished in second place, demonstrating the strong performance of our sponsored athletes.
We will continue to enhance our craftsmanship in partnership with top athletes. We recently announced the establishment of "ASICS TECHNICAL LAB" in Kobe City, Hyogo Prefecture as a new production base mainly to manufacture shoes for top athletes. In addition to giving back the technology and knowledge that we have developed over the years to athletes at an even higher level, through rapid evaluation and improvement, we are building a system to rapidly deliver products with even greater added value to customers and accelerating innovation.
Next, we will cover our IR activities. We will continue to strengthen our IR measures for individual investors, which we began to expand in earnest last year. We entered our second round of IR briefings for individual investors held in eight cities throughout Japan, holding another event in Naha on March 14. In addition to COO Tominaga and Outside Director Mitsuru Murai giving presentations, all Outside Directors were in attendance to introduce themselves to our individual investors. We also had an experience booth for individual investors to try on shoes and have foot measurements taken, which was a resounding success. The participants shared positive feedback, including "In addition to the speeches from the COO and Outside Directors, I appreciated really getting to know ASICS by talking to the employees about their products and stores," and "The experience corner was even better than I expected." This fiscal year, we plan to hold individual investor briefings in seven more cities (Fukuoka, Sapporo, Sendai, Kobe, Nagoya, Hiroshima, and Tokyo). We are working to improve the contents of these briefings even further and invite all our investors living close to the briefing venues to attend.
Additionally, we published the latest edition of our "IR BOOK" corporate overview materials for individual investors that we began publishing last year. We invite all our individual investors to read through our IR BOOK, which compiles the important points about ASICS in one volume.
Link to IR BOOK: https://assets.asics.com/system/media_libraries/25680/file.pdf (in Japanese)
In terms of governance, we are further enhancing initiatives aimed at management transparency.
With the goal of ensuring all our shareholders and investors have sufficient time for various evaluation and decision-making, for the first time, ASICS released our Securities Reports on March 4, three weeks prior to our Annual Shareholders Meeting. In doing so, we realized early disclosure, which represents a cutting-edge development among Japanese companies. Furthermore, at the Annual Shareholders Meeting in March, Jenifer Rogers was elected as an Outside Director. As ASICS' first foreign national serving as Outside Director, we expect Jenifer Rogers to contribute to further enhancing our governance by capitalizing on her broad perspective on global corporate management, her expertise as an attorney, and her abundant practical experience at financial institutions. Through initiatives such as these, we will continue to promote highly transparent management.
Finally, we will introduce recent external assessments.
In terms of intellectual property, at the "Intellectual Property and Intangible Asset Governance Awards (2025)," ASICS received the "Grand Prize," which is selected by the Intellectual Property and Intangible Assets Governance Promotion Association (IPIAGPA). This marks the second consecutive year that ASICS has won this award, representing a strong evaluation of our even greater aspirations to be "the pinnacle of IP governance" after winning the Excellence Award in the previous year. Certain points that led to ASICS receiving the award were that our "Intellectual Property Strategy Committee" directly under the COO has remained substantial by functioning organically through the participation of all our Executive Officers and that it has coordinated well with top management.
In the field of sustainability, we were certified as a "Climate Change A List" corporation, the highest level of recognition in the field of climate change, in a survey conducted by the CDP, an international non-profit organization. Additionally, ASICS was selected as a "Yearbook Member" in the "The Sustainability Yearbook 2026" issued by S&P Global. The Sustainability Yearbook evaluates more than 9,200 global companies from the standpoints of economics and governance, the environment, and society, and this year, the top 848 companies were selected as Yearbook Members.
We will continue to steadily advance initiatives aimed at medium- to long-term growth and sustainable value creation. Please continue to follow our continued evolution. Terima Kasih (Thank you)!
-
Explanation on business results
(Millions of yen)
FY2025
Jan 1 to Mar 31
FY2026
Jan 1 to Mar 31
Increase (Decrease)
Increase % (Decrease %)
Increase %
on a currency-neutral basis
Net sales
208,313
270,265
61,951
29.7
21.2
Gross profit
116,322
147,518
31,195
26.8
18.4
Operating profit
44,511
60,762
16,250
36.5
28.2
Ordinary profit
43,376
58,775
15,398
35.5
-
Profit attributable
to owners of parent
31,647
46,569
14,922
47.2
-
Net sales
Net sales increased by 29.7％ to ¥270,265 million due to the strong sales in all categories.
Gross profit
Gross profit increased by 26.8％ to ¥147,518 million due to the impact of an increase in net sales described above.
Operating profit
Operating profit increased by 36.5％ to ¥60,762 million due to the impact of an increase in net sales and profit described above.
Ordinary profit
Ordinary profit increased by 35.5％ to ¥58,775 million mainly due to the impact of an increase in net sales and profit described above.
Profit attributable to owners of parent
Profit attributable to owners of parent increased by 47.2％ to ¥46,569 million mainly due to the impact of an increase in net sales and profit described above.
Business results by categories are as follows.
Additionally, starting in the three months ended March 31, 2026, we revised certain category names, changing the name of the "Apparel and Equipment" category to "Apparel."
Furthermore, "Walking," which was previously an undisclosed category, is now provided as an independent category from the three months ended March 31, 2026, with the goal of increasing the transparency of information disclosure.
(Millions of yen)
Category
FY2025
Jan 1 to Mar 31
FY2026
Jan 1 to Mar 31
Increase (Decrease)
Increase % (Decrease %)
Increase %
on a currency-neutral basis
Performance
Running
Net sales
98,003
116,743
18,740
19.1
10.1
Category profit
26,157
29,605
3,448
13.2
5.6
Core Performance
Sports
Net sales
25,497
30,551
5,053
19.8
12.5
Category profit
6,086
7,499
1,412
23.2
16.5
Apparel
Net sales
10,339
14,426
4,086
39.5
29.5
Category profit
1,630
3,023
1,393
85.5
72.1
SportStyle
Net sales
35,144
59,621
24,477
69.6
56.3
Category profit
11,141
19,592
8,450
75.8
63.9
Onitsuka Tiger
Net sales
28,325
37,891
9,565
33.8
29.0
Category profit
10,324
14,997
4,673
45.3
41.9
Walking
Net sales
3,719
4,311
592
15.9
15.9
Category profit
313
764
450
143.7
143.7
Performance Running
Net sales increased by 19.1％ to ¥116,743 million due to the strong sales in all regions.
Category profit increased by 13.2％ to ¥29,605 million mainly due to the impact of an increase in net sales described above.
Core Performance Sports
Net sales increased by 19.8％ to ¥30,551 million due to the strong sales in all regions.
Category profit increased by 23.2％ to ¥7,499 million mainly due to the impact of an increase in net sales described above.
Apparel
Net sales increased by 39.5％ to ¥14,426 million due to the strong sales in all regions.
Category profit increased by 85.5％ to ¥3,023 million mainly due to an improvement in gross margin, as well as due to the impact of an increase in net sales described above.
SportStyle
Net sales increased by 69.6％ to ¥59,621 million due to the strong sales in all regions.
Category profit increased by 75.8％ to ¥19,592 million due to the impact of an increase in net sales described above.
Onitsuka Tiger
Net sales increased by 33.8％ to ¥37,891 million due to the strong sales in all regions.
Category profit increased by 45.3％ to ¥14,997 million mainly due to an improvement in gross margin, as well as due to the impact of an increase in net sales described above.
Walking
Net sales increased by 15.9％ to ¥4,311 million due to the strong sales in all regions.
Category profit increased significantly by 143.7％ to ¥764 million mainly due to an improvement in gross margin, as well as due to the impact of an increase in net sales described above.
Business results by reportable segments are as follows.
(Millions of yen)
Reportable Segments
FY2025
Jan 1 to Mar 31
FY2026
Jan 1 to Mar 31
Increase (Decrease)
Increase % (Decrease %)
Increase %
on a currency-neutral basis
Japan
Net sales
50,559
59,274
8,715
17.2
-
Segment profit
10,677
14,502
3,825
35.8
-
North America
Net sales
39,133
48,153
9,020
23.0
18.8
Segment profit
5,772
6,382
609
10.6
6.2
Europe
Net sales
58,797
84,572
25,775
43.8
27.2
Segment profit
11,865
18,211
6,345
53.5
35.8
Greater China
Net sales
29,011
37,196
8,185
28.2
20.0
Segment profit
6,786
11,052
4,265
62.9
54.0
Oceania
Net sales
12,480
15,906
3,425
27.4
12.4
Segment profit
2,213
2,368
155
7.0
(5.8)
Southeast and
South Asia
Net sales
12,536
16,870
4,333
34.6
28.7
Segment profit
3,061
4,445
1,384
45.2
37.6
Others
Net sales
12,900
15,916
3,016
23.4
13.4
Segment profit
2,371
2,980
609
25.7
16.9
Japan region
Net sales increased by 17.2％ to ¥59,274 million due to the strong sales in all categories.
Segment profit increased by 35.8％ to ¥14,502 million mainly due to an improvement in gross margin, as well as due to the impact of an increase in net sales described above.
North America region
Net sales increased by 23.0％ to ¥48,153 million due to the strong sales in all categories.
Segment profit increased by 10.6％ to ¥6,382 million mainly due to the impact of an increase in net sales described above.
Europe region
Net sales increased by 43.8％ to ¥84,572 million due to the strong sales in all categories.
Segment profit increased by 53.5％ to ¥18,211 million mainly due to the impact of an increase in net sales described above.
Greater China region
Net sales increased by 28.2％ to ¥37,196 million due to the strong sales in all categories.
Segment profit increased by 62.9％ to ¥11,052 million mainly due to an improvement in gross margin, as well as due to the impact of an increase in net sales described above.
Oceania region
Net sales increased by 27.4％ to ¥15,906 million due to the strong sales in all categories.
Segment profit increased by 7.0％ to ¥2,368 million mainly due to the impact of an increase in net sales described above.
Southeast and South Asia regions
Net sales increased by 34.6％ to ¥16,870 million due to the strong sales in all categories.
Segment profit increased by 45.2％ to ¥4,445 million mainly due to the impact of an increase in net sales described above.
Other regions
Net sales increased by 23.4％ to ¥15,916 million due to the strong sales in all categories.
Segment profit increased by 25.7％ to ¥2,980 million mainly due to an improvement in gross margin, as well as due to the impact of an increase in net sales described above.
-
Explanation on financial position
As for the consolidated financial position as of March 31, 2026, total assets increased by 9.1％ from the end of the previous fiscal year to ¥640,103 million, total liabilities increased by 2.9％ from the end of the previous fiscal year to ¥322,221 million and total net assets increased by 16.3％ from the end of the previous fiscal year to ¥317,882 million.
Current assets
Current assets increased by 12.8％ to ¥462,218 million mainly due to increases in notes and accounts receivable - trade.
Non-current assets
Non-current assets increased by 0.8％ to ¥177,885 million mainly due to an increase in software and a decrease in buildings and structures.
Current liabilities
Current liabilities increased by 4.9％ to ¥255,624 million mainly due to an increase in short-term borrowings and a decrease in accrued expenses.
Non-current liabilities
Non-current liabilities decreased by 4.0％ to ¥66,596 million mainly due to a decrease in lease liabilities.
Net assets
Net assets increased by 16.3％ to ¥317,882 million mainly due to an increase in retained earnings.
-
Overview of cash flows
As for cash flows as of March 31, 2026, cash and cash equivalents (hereinafter, "cash") increased ¥7,132 million from the end of the previous fiscal year to ¥119,354 million.
The respective cash flow positions and main factors behind the changes are as follows.
Cash flows from operating activities
Net cash used in operating activities was ¥11,130 million, an increase of ¥14,578 million compared with the previous fiscal year. Major source of cash was ¥61,869 million from profit before income taxes, while major uses of cash were ¥44,889 million for the increase in trade receivables and ¥23,618 million for income taxes paid.
Cash flows from investing activities
Net cash used in investing activities was ¥3,123 million, a decrease of ¥2,258 million compared with the previous fiscal year. Major source of cash was ¥5,847 million from proceeds from sales of property, plant and equipment, while major uses of cash were ¥3,600 million for purchases of property, plant and equipment and ¥3,504 million for purchase of intangible assets.
Cash flows from financing activities
Net cash provided by financing activities was ¥21,876 million, an increase of ¥33,052 million compared with the previous fiscal year.
Major source of cash was ¥37,500 million from the net increase in short-term borrowings, while major uses of cash were
¥11,350 million for cash dividends paid and ¥4,271 million for repayment of lease liabilities.
- Explanation on forecast of consolidated business results and others
Regarding our forecast of consolidated business results for the fiscal year ending December 31, 2026, current results are trending strongly, and at present we do not envision conditions in the Middle East having a significant impact on the results of the ASICS Group.
However, we are taking a cautious approach on the continued uncertain outlook for global affairs, and we have left our forecast of consolidated business results released on February 13, 2026 unchanged.
Based on future results trends, if the need to revise our results forecast arises, we will immediately disclose any revisions.
-
Explanation on business results
-
Consolidated Financial Statements and Notes
-
Consolidated Balance Sheet
(Millions of yen)
As of December 31, 2025 As of March 31, 2026
Assets
Current assets
Cash and deposits
112,267
119,389
Notes and accounts receivable - trade
82,956
129,351
Electronically recorded monetary claims
5,847
6,037
Merchandise and finished goods
174,372
166,052
Work in process
1,011
1,206
Raw materials and supplies
3,584
3,639
Other
33,747
40,505
Allowance for doubtful accounts
(3,853)
(3,963)
Total current assets
409,933
462,218
Non-current assets
Property, plant and equipment
Buildings and structures
37,445
34,475
Accumulated depreciation
(24,124)
(22,839)
Buildings and structures, net
13,320
11,635
Machinery, equipment and vehicles
17,849
18,063
Accumulated depreciation
(5,575)
(6,005)
Machinery, equipment and vehicles, net
12,274
12,058
Tools, furniture and fixtures
44,243
45,901
Accumulated depreciation
(32,336)
(33,557)
Tools, furniture and fixtures, net
11,906
12,344
Land
4,859
4,357
Leased assets
1,001
1,042
Accumulated depreciation
(889)
(904)
Leased assets, net
112
138
Construction in progress
2,214
2,716
Total property, plant and equipment
44,688
43,250
Intangible assets
Goodwill
5,716
5,543
Software
35,529
41,107
Right of use assets
52,761
51,094
Other
9,962
5,988
Total intangible assets
103,969
103,733
Investments and other assets
Investment securities
3,707
3,776
Long-term loans receivable
18
14
Deferred tax assets
8,757
7,713
Other
15,781
19,779
Allowance for doubtful accounts
(376)
(382)
Total investments and other assets
27,889
30,901
Total non-current assets
176,546
177,885
Total assets
586,480
640,103
(Millions of yen)
As of December 31, 2025 As of March 31, 2026
Liabilities
Current liabilities
Accounts payable - trade
71,835
66,434
Electronically recorded obligations
1,834
1,542
Short-term borrowings
2,500
40,000
Current portion of bonds payable
25,000
25,000
Lease liabilities
16,000
15,762
Accrued expenses
49,375
35,955
Income taxes payable
26,990
17,137
Accrued consumption taxes
3,002
5,664
Provision for bonuses
2,263
4,649
Other
44,924
43,478
Total current liabilities
243,726
255,624
Non-current liabilities
Bonds payable
10,000
10,000
Lease liabilities
45,029
43,589
Deferred tax liabilities
1,047
2,122
Retirement benefit liability
5,120
4,713
Other
8,200
6,171
Total non-current liabilities
69,399
66,596
Total liabilities
313,125
322,221
Net assets
Shareholders' equity
Share capital
23,972
23,972
Capital surplus
13,655
13,917
Retained earnings
246,352
281,891
Treasury shares
(57,651)
(57,037)
Total shareholders' equity
226,328
262,744
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
303
376
Deferred gains or losses on hedges
874
6,976
Foreign currency translation adjustment
44,698
46,673
Remeasurements of defined benefit plans
(686)
(665)
Total accumulated other comprehensive income
45,189
53,360
Share acquisition rights
242
234
Non-controlling interests
1,594
1,542
Total net assets
273,355
317,882
Total liabilities and net assets
586,480
640,103
-
Consolidated Income Statement and Statement of Comprehensive Income
(Millions of yen)
Three months ended
Three months ended
March 31, 2025
March 31, 2026
Net sales
208,313
270,265
Cost of sales
91,990
122,746
Gross profit
116,322
147,518
Selling, general and administrative expenses
* 71,810
* 86,755
Operating profit
44,511
60,762
Non-operating income
Interest income
873
722
Dividend income
2
6
Gain on forgiveness of debts
429
-
Other
336
295
Total non-operating income
1,640
1,023
Non-operating expenses
Interest expenses
1,247
1,346
Foreign exchange losses
316
485
Loss on overseas business
658
670
Other
552
509
Total non-operating expenses
2,775
3,011
Ordinary profit
43,376
58,775
Extraordinary income
Gain on sale of non-current assets
12
3,108
Total extraordinary income
12
3,108
Extraordinary losses
Loss on sale of non-current assets
0
0
Loss on retirement of non-current assets
0
14
Loss on cancellation of rental contracts
5
-
Total extraordinary losses
6
14
Profit before income taxes
43,382
61,869
Income taxes
11,654
15,198
Profit
31,727
46,671
Profit attributable to non-controlling interests
80
101
Profit attributable to owners of parent
31,647
46,569
(Millions of yen)
Three months ended
Three months ended
March 31, 2025
March 31, 2026
Profit
31,727
46,671
Other comprehensive income
Valuation difference on available-for-sale securities
(58)
73
Deferred gains or losses on hedges
(8,408)
6,101
Foreign currency translation adjustment
(3,273)
1,975
Remeasurements of defined benefit plans, net of tax
30
21
Total other comprehensive income
(11,709)
8,171
Comprehensive income
20,018
54,842
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
19,938
54,741
Comprehensive income attributable to non-controlling
interests
80
101
-
Consolidated Statement of Cash Flows
(Millions of yen)
Three months ended March 31, 2025
Three months ended March 31, 2026
Cash flows from operating activities
Profit before income taxes
43,382
61,869
Depreciation and amortization
5,349
7,632
Amortization of goodwill
161
194
Increase (decrease) in allowance for doubtful accounts
248
37
Increase (decrease) in retirement benefit liability
(347)
(374)
Increase (decrease) in provision for bonuses
1,960
2,366
Interest and dividend income
(875)
(728)
Interest expenses
1,247
1,346
Foreign exchange losses (gains)
2
1
Loss (gain) on sale and retirement of non-current assets
(11)
(3,094)
Other loss (gain)
1,335
1,073
Decrease (increase) in trade receivables
(30,405)
(44,889)
Decrease (increase) in inventories
7,198
9,775
Decrease (increase) in other assets
(6,754)
(5,908)
Increase (decrease) in trade payables
(3,818)
(6,836)
Increase (decrease) in accrued consumption taxes
2,109
2,622
Increase (decrease) in other liabilities
(9,131)
(12,133)
Subtotal
11,650
12,953
Interest and dividends received
936
808
Interest paid
(1,214)
(1,274)
Income taxes paid
(7,925)
(23,618)
Net cash provided by (used in) operating activities
3,448
(11,130)
Cash flows from investing activities
Payments into time deposits
(1)
-
Proceeds from withdrawal of time deposits
1
9
Purchase of property, plant and equipment
(2,164)
(3,600)
Payments for retirement of property, plant and equipment
(12)
(19)
Proceeds from sale of property, plant and equipment
153
5,847
Purchase of intangible assets
(3,058)
(3,504)
Purchase of investment securities
(0)
(24)
Proceeds from sale of shares of subsidiaries resulting in
change in scope of consolidation
422
-
Net decrease (increase) in short-term loans receivable
1
0
Proceeds from collection of long-term loans receivable
1
3
Decrease (increase) in investments and other assets
(726)
(1,835)
Net cash provided by (used in) investing activities
(5,381)
(3,123)
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
8,000
37,500
Purchase of treasury shares
(8,571)
(1)
Proceeds from sale of treasury shares
0
0
Repayments of lease liabilities
(3,440)
(4,271)
Dividends paid
(7,164)
(11,350)
Net cash provided by (used in) financing activities
(11,176)
21,876
Effect of exchange rate change on cash and cash equivalents
(358)
(489)
Net increase (decrease) in cash and cash equivalents
(13,468)
7,132
Cash and cash equivalents at beginning of period
126,973
112,221
Cash and cash equivalents at end of period
113,504
119,354
- Notes for Consolidated Financial Statements
(Application of accounting treatment peculiar to three-month consolidated financial statement preparation) (Calculation of tax expenses)
Tax expenses are calculated by making a reasonable estimate of the effective tax rate after applying tax effect accounting to profit before income taxes for the consolidated fiscal year that includes the three-month period and multiplying the three-month profit before taxes by the estimated effective tax rate.
(Segment information)
Outline of reportable segments
Reportable segments of the Group are components for which discrete financial information is available and whole operating results are regularly reviewed by the Executive Meeting of the Company to make decisions on the allocation of management resources and assess performance.
The Company is mainly engaged in business management activities and product development as the global headquarters. The Group is primarily engaged in the manufacture and sales of sporting goods.
ASICS Japan Corporation and other subsidiaries in Japan are responsible for Japan.
ASICS America Corporation is responsible for North America; ASICS Europe B. V. for Europe, Middle East, and Africa; ASICS China Trading Co. , Ltd. for Greater China; ASICS Oceania PTY. , Ltd. for Oceania; and ASICS Asia PTE. , Ltd. for Southeast and South Asia.
Net sales and segment profit (loss) of reportable segments
(Millions of yen)
Three months ended March 31, 2025
Reportable segment
Japan
North America
Europe
Greater China
Oceania
Southeast and South Asia
Net sales:
Sales to customers
¥ 39,308
¥ 39,133
¥ 58,797
¥ 29,011
¥ 12,480
¥ 12,536
Intersegment
11,250
-
-
-
-
-
Total sales
50,559
39,133
58,797
29,011
12,480
12,536
Segment profit (loss)
¥ 10,677
¥ 5,772
¥ 11,865
¥ 6,786
¥ 2,213
¥ 3,061
(Millions of yen)
Three months ended March 31, 2025
Reportable segment
Others
Total
Adjustments
Consolidated
Others
Total
Net sales:
Sales to customers
¥ 12,900
¥ 204,168
¥ 4,056
¥ 208,225
¥ 88
¥ 208,313
Intersegment
-
11,250
-
11,250
(11,250)
-
Total sales
12,900
215,419
4,056
219,475
(11,162)
208,313
Segment profit(loss)
¥ 2,371
¥ 42,748
¥ 39
¥ 42,787
¥ 1,724
¥ 44,511
(Millions of yen)
Three months ended March 31, 2026
Reportable segment
Japan
North America
Europe
Greater China
Oceania
Southeast and South Asia
Net sales:
Sales to customers
¥ 46,492
¥ 48,153
¥ 84,572
¥ 37,191
¥ 15,906
¥ 16,870
Intersegment
12,782
-
-
5
-
-
Total sales
59,274
48,153
84,572
37,196
15,906
16,870
Segment profit (loss)
¥ 14,502
¥ 6,382
¥ 18,211
¥ 11,052
¥ 2,368
¥ 4,445
(Millions of yen)
Three months ended March 31, 2026
Reportable segment
Others
Total
Adjustments
Consolidated
Others
Total
Net sales:
Sales to customers
¥ 15,916
¥ 265,103
¥ 5,120
¥ 270,223
¥ 41
¥ 270,265
Intersegment
-
12,787
-
12,787
(12,787)
-
Total sales
15,916
277,890
5,120
283,010
(12,745)
270,265
Segment profit(loss)
¥ 2,980
¥ 59,942
¥ 331
¥ 60,274
¥ 488
¥ 60,762
(Notes on significant changes in the amount of shareholders' equity)
Not applicable.
(Notes on matters related to going concern assumption)
Not applicable.
(Consolidated Income Statement)
* The material expenses in Selling, general and administrative expenses are as follows:
Millions of yen
Three months ended March 31, 2025
Three months ended March 31, 2026
Packing and transportation ¥
7,678
¥
9,014
Advertising
13,348
17,958
Commission fee
12,398
15,214
Provision for bad debt
237
111
Salaries and wages
13,758
16,019
Provision for bonus
3,165
3,414
Retirement benefit
322
305
Rent
3,776
2,347
Depreciation and amortization
5,279
7,540
(Subsequent event) Not applicable.
-
Consolidated Balance Sheet
- Supplemental information
Net sales per region
(Millions of yen)
Three months ended
March 31, 2025
Japan
North
America
Europe
Greater
China
Others
Consolidated
Net sales
¥ 40,146
¥ 40,153
¥ 54,791
¥ 29,014
¥ 44,207
¥ 208,313
(Notes)
Net sales are based on customer locations and classified by country and territory.
Net sales attributable to "North America" of ¥40,153 million for the three months ended March 31, 2025 include net sales in the United States of America of ¥33,647 million. Net sales attributable to "Greater China" of ¥29,014 million for the three months ended March 31, 2025 include net sales in the People's Republic of China of ¥22,821 million.
(Millions of yen)
Three months ended
March 31, 2026
Japan
North
America
Europe
Greater
China
Others
Consolidated
Net sales
¥ 48,556
¥ 49,475
¥ 76,318
¥ 37,198
¥ 58,715
¥ 270,265
(Notes)
Net sales are based on customer locations and classified by country and territory.
Net sales attributable to "North America" of ¥49,475 million for the three months ended March 31, 2026 include net sales in the United States of America of ¥41,131 million. Net sales attributable to "Greater China" of ¥37,198 million for the three months ended March 31, 2026 include net sales in the People's Republic of China of ¥29,213 million.
Foreign currency exchange rates
USD
EUR
RMB
AUD
SGD
Three months ended March 31, 2025
¥
152.90
¥
160.70
¥
21.02
¥
95.52
¥
113.27
Three months ended March 31, 2026
¥
156.54
¥
183.62
¥
22.59
¥
108.29
¥
122.54
Increase (Decrease)
¥
3.64
¥
22.92
¥
1.57
¥
12.77
¥
9.27
Ratio (%)
2.4
14.3
7.5
13.4
8.2
Net sales and segment profit ratio
Japan North America
Europe Greater China
Oceania
Net sales | (Local currency) | - | 18.8 | 27.2 | 20.0 | 12.4 |
vs Three months ended March 31, 2025 (%) | (Yen) | 17.2 | 23.0 | 43.8 | 28.2 | 27.4 |
Segment profit | (Local currency) | - | 6.2 | 35.8 | 54.0 | (5.8) |
vs Three months ended March 31, 2025 (%) | (Yen) | 35.8 | 10.6 | 53.5 | 62.9 | 7.0 |
Southeast and South Asia | Others | |||||
Net sales | (Local currency) | 28.7 | 13.4 | |||
vs Three months ended March 31, 2025 (%) | (Yen) | 34.6 | 23.4 | |||
Segment profit | (Local currency) | 37.6 | 16.9 | |||
vs Three months ended March 31, 2025 (%) | (Yen) | 45.2 | 25.7 | |||
-
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Asics Corporation published this content on May 13, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 13, 2026 at 04:04 UTC.
