Asics shares surge as raised guidance predicts record profit
The Onitsuka Tiger-owner now expects operating profit to reach ¥136 billion ($919 million) this year, according to a Wednesday statement. That's ahead of analysts estimates, and up from a prior forecast of ¥120 billion. The company had previously said its operating profit wouldn't hit ¥130 billion until 2026.
Asics said earnings are seen rising faster than previously expected due to strong performance in its running, sports style and Onitsuka Tiger categories and reduced uncertainty around US tariffs. The company cut the projected tariff impact on its North American operations by 40% to ¥3 billion.
Earnings from its North America operations — where the company targets a number one market share in specialty stores by year-end — are seen 30% higher at ¥15 billion this year compared to a prior forecast. Group sales are expected to hit a record ¥800 billion this year.
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5 days ago
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