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ASICS (7936) investor relations material

ASICS Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary12 Nov, 2025

Executive summary

  • Net sales for the nine months ended September 2025 reached ¥625.1 billion, up 19.0% year-over-year, marking a record high, with all categories and regions contributing to growth, especially SportStyle and Onitsuka Tiger.

  • Operating profit rose 39.4% year-over-year to ¥127.6 billion, with operating margin up 3.0 ppt to 20.4%.

  • Profit attributable to owners of parent increased 32.9% to ¥86.3 billion, setting new record highs.

  • Gross margin improved by 1.1 ppt to 56.5%, driven by a strategic focus on high-end products.

  • All product categories and regions recorded higher net sales, with SportStyle and Onitsuka Tiger achieving nearly 50% YoY growth.

Financial highlights

  • Net sales: ¥625,055 million (+19.0% YoY); operating profit: ¥127,606 million (+39.4% YoY); ordinary profit: ¥124,500 million (+41.0% YoY); profit attributable to owners of parent: ¥86,314 million (+32.9% YoY).

  • Comprehensive income for the nine months: ¥74,084 million (+21.3% YoY).

  • Basic earnings per share: ¥120.66 (adjusted for 4-for-1 stock split).

  • SG&A expenses increased 13.1% year-over-year but the SG&A to sales ratio improved by 1.9ppt to 36.1%.

  • Days Inventory Outstanding (DIO) improved to 147 days, down 4 days year-over-year.

Outlook and guidance

  • Full-year 2025 forecast: net sales ¥800,000 million (+17.9% YoY), operating profit ¥140,000 million (+39.8% YoY), ordinary profit ¥135,000 million (+45.8% YoY), profit attributable to owners of parent ¥90,000 million (+41.1% YoY), basic EPS ¥125.89.

  • Year-end dividend forecast raised to ¥16.0 per share, with a full-year dividend of ¥28.0 per share.

  • Repurchase of treasury shares totaling ¥30.0 billion resolved, with a new program up to 10 million shares (¥30 billion) from November 13, 2025 to January 31, 2026.

  • Forecasts revised upward as of November 12, 2025.

Rationale for recent and planned share repurchases
Sustainability of SportStyle/Onitsuka Tiger growth
Address Oceania profit decline and NA margin gain
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Frequently asked questions

ASICS Corporation is a Japanese multinational company known for its sports apparel, shoes, and equipment. The company offers a wide range of products including performance running shoes, sports apparel, and equipment under various brand names. ASICS Corporation is headquartered in Kobe, Hyogo, Japan, and its shares are listed on the Tokyo Stock Exchange.

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