Companies

Asics ends 2024 with a strong foothold

Feb 21, 2025 Japan

The Japan-based sportswear company has reported an 18.9% increase in full year net sales, driven by strong sales across all categories in all major regions and exchange fluctuation rates

In the twelve months that ended in December 2024, Asics’ net sales reached 678.5 billion Japanese yen (4.31 billion euros), an increase of 18.9% on a comparable basis to the same period of last year.

In its home market of Japan, the company’s full year net sales grew by 22.5% year-on-year to 166.4 billion Japanese yen (1.06 billion euros), driven by strong sales in the SportStyle and Onitsuka Tiger categories.

Internationally, Asics’ full year net sales in North America increased by 17.8% year-on-year to 135.0 million Japanese yen (859.2 million euros, mainly due to strong sales in the Performance Running and SportStyle categories.

In Europe and Greater China, full year net sales were up by 21.2% to 179.4 billion Japanese yen (1.14 billion euros) and by 29.5% to 100.5 billion Japanese yen (639.7 million euros), respectively, as compared to fiscal 2023, driven by strong performances across all categories.

The company’s full year net sales also increased by 11.8% year-on-year in Oceania to 43.0 billion Japanese yen (273.7 million euros) and by 37.6% year-on-year in the Southeast and South Asia regions to 37.3 billion Japanese yen (237.4 million euros).

Only in the other regions was there a decrease of 10.0% year-on-year to 44.8 billion Japanese yen (285 million euros), due to the impact of the sale of Haglöfs AB and its exclusion from the scope of consolidation.

These achievements in net sales resulted in a 27.6% increase in gross profit to 378.9 billion Japanese yen (2.4 billion euros) and an 84.7% increase in operating income to 100.1 billion Japanese yen (637.1 million euros), on a comparable basis to the previous year.

Finally, Asics reported net income attributable to owners of the parent company of 63.8 billion Japanese yen (406.1 million euros), an increase of 80.9%, as compared to the previous year. This was due to a gain in the sales of investment securities following the sale of cross-shareholdings and the impact of the increase in net sales and profit described above.

1 YEN = 0.0064 EUR

Image Credits: stylerave.com

Japan Asics Companies Footwear Results Sportswear Year Results