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Asics Corporation launched its 2025 full-year earnings report on Friday, February 13, indicating that the yr demonstrated the corporate’s continued sturdy development momentum. The firm noticed all classes and areas put up will increase for the yr, however that momentum was not essentially balanced throughout the portfolio, both from a gross sales pattern, gross sales contribution, or revenue contribution foundation.
The North America enterprise continues to lag all different areas by way of gross sales development (in reported phrases), and working margin falls brief as effectively.
In a separate assertion, Asics North America (ANA) mentioned Mexico delivered double-digit development within the fourth quarter, however declines have been seen within the U.S. and Canada. All three areas noticed good points for the total yr.
ANA mentioned the area has benefited lately by infrastructure enhancements and reductions in promotional pricing which have resulted in “significant increases in the brand’s credibility and the region’s profitability.”
The U.S. wholesale channel as soon as once more noticed quarterly development in comparison with the identical interval in 2024 and generated 30.8 p.c development within the channel for the total yr. Including contributions from Asics’ DTC channels, ANA’s gross sales have been up 5.6 p.c for the yr.
“Our teams continue to do a great job servicing our valued retail partners while keeping an eye to the future,” mentioned Koichiro Kodama, president and CEO of Asics America. “Asics has always been a leader in product innovation, and we were very pleased to see the marketplace respond so positively to the products we introduced this year across our categories. As we look ahead, we are well positioned to build on our success across Performance Run, SportStyle and Core Performance Sports. We are fully committed to continually improving our operational excellence to be the best-in-class brand in this industry.”
Sales at run specialty noticed one other sturdy quarter of double-digit development, led by a 53 p.c achieve by the Novablast shoe and good points from the Megablast, based on ANA. The SportStyle class continued its momentum, producing sturdy double-digit income will increase within the fourth quarter with key strategic wholesale companions and persevering with to be led by Gel-1130, the Gel-NYC and Gel-Kayano.
Asics Corp. reported that world consolidated internet gross sales elevated 19.5 p.c year-over-year (y/y) to ¥810.9 billion ($5.39 bn) in 2025. The firm reported working revenue reached ¥142.5 billion ($948 mm) in 2025, up 42.4 p.c y/y, and working margin elevated by 280 foundation factors to 17.6 p.c of internet gross sales for the yr. Both internet gross sales and working revenue reportedly set new report highs for the fourth consecutive yr.
Category Summary
All classes achieved each elevated gross sales and income for the yr.
Notably, SportStyle and Onitsuka Tiger every achieved internet gross sales exceeding ¥100.0 billion ($666 mm) for the primary time, culminating in development of greater than 40.0 p.c in contrast with the earlier fiscal yr. SportStyle revenue margin elevated by 200 foundation factors to 29.3 p.c of internet class gross sales and Onitsuka Tiger working margin improved by 370 foundation level to 37.7 p.c of internet gross sales for the class.
A fast calculation on the again of an envelope finds that the mixed SportStyle and Onitsuka Tiger – let’s name it life-style – represented 34.3 p.c of complete gross sales for the yr, whereas the 2 classes mixed had working income that accounted for 65.1 p.c of working income for the corporate.
For Onitsuka Tiger particularly, the corporate mentioned 2025 marked the full-scale launch of efforts to broaden its presence in Europe. Large flagship shops opened in Barcelona, Spain; London, UK; and Paris, France, with “all getting off to a strong start.”
“The brand is beginning to establish its position as a Japanese luxury lifestyle brand,” the corporate famous in its earnings launch.
In January 2026, the Onitsuka Innovative Factory commenced operations in Sakaiminato City, Tottori Prefecture. This manufacturing facility, reportedly boasting craftsmanship devoted to Japanese manufacturing, goals to additional improve the model’s worth.
The firm has its eyes on the North America marketplace for 2026.
Regional Summary
All areas have been mentioned to have achieved larger internet gross sales and revenue in 2025.
Japan area
Japan internet gross sales elevated by 22.7 p.c y/y to ¥204,236 million in 2025, reportedly as a result of sturdy gross sales of Performance Running and Onitsuka Tiger. Sales to inbound vacationers have been mentioned to be the first driver, rising by 84 p.c for the yr. The firm mentioned Domestic Performance Running and SportStyle additionally confirmed important development. Japan phase revenue elevated by 61.7 p.c to ¥44,734 million, mentioned to be primarily attributable to an enchancment in gross margin, in addition to as a result of affect of a rise in internet gross sales.
“We will continue to focus on strengthening the Asics brand within Japan,” the corporate mentioned within the earnings report.
North America area
North America internet gross sales elevated 4.6 p.c y/y to ¥141,192 million ($939 mm) primarily as a result of sturdy gross sales of SportStyle, whereas the strategic discount in EC (digital commerce) gross sales was carried out. Segment revenue elevated 42.1 p.c y/y to ¥16,018 million ($107. mm), mentioned to be primarily as a result of affect of a rise in internet gross sales.
Europe area
Net gross sales elevated by 25.9 p.c to ¥225,805 million as a result of sturdy gross sales in all classes.
Segment revenue elevated by 45.3 p.c to ¥36,746 million primarily as a result of affect of a rise in internet gross sales.
Greater China area
Net gross sales elevated by 19.9 p.c to ¥120,514 million as a result of sturdy gross sales in all classes. Segment revenue elevated by 29.8 p.c to ¥25,099 million primarily attributable to an enchancment in gross margin, in addition to as a result of affect of a rise in internet gross sales.
Oceania area
Net gross sales elevated by 15.5 p.c to ¥49,649 million as a result of sturdy gross sales in all classes. Segment revenue elevated by 3.8 p.c to ¥7,927 million primarily as a result of affect of a rise in internet gross sales.
Southeast and South Asia areas
Net gross sales elevated by 33.4 p.c to ¥49,780 million as a result of sturdy gross sales in all classes. Segment revenue elevated by 47.6 p.c to ¥10,946 million primarily as a result of affect of a rise in internet gross sales.
Other areas
Net gross sales elevated by 16.1 p.c to ¥52,078 million as a result of sturdy gross sales in all classes. Segment revenue elevated by 23.9 p.c to ¥8,107 million primarily attributable to an enchancment in gross margin, in addition to as a result of affect of a rise in internet gross sales.
Outlook
Asics mentioned it believes that 2025 has laid the muse for additional development in 2026 and the next medium-term plan interval beginning in 2027.
Major 2026 Initiatives
For 2026, we plan to attain internet gross sales of ¥950 billion, working revenue of ¥171 billion, and an working margin of 18.0 p.c.
In Performance Running, Asics will proceed revolutionary product improvement, aiming for the No. 1 share in main marathons.
In Core Performance Sports, Asics will keep our give attention to tennis whereas strengthening sports activities classes past tennis.
In SportStyle, Asics will broaden our product lineup whereas pursuing sustainable development inside this large market.
For Onitsuka Tiger, Asicswill additional solidify our model place in Europe and advance preparations for re-entering the U.S. market in 2027 and later.
Furthermore, the corporate mentioned it’ll implement measures for sustainable development throughout all areas and supplied for example the numerous enlargement potential that is still in Greater China, the place the corporate will lengthen the Asics model footprint.
In North America, the corporate mentioned it’s steadily rising gross sales at working specialty shops. “Leveraging the brand equity cultivated here, we will further strengthen the expansion of mid-priced products, which represent a larger market segment,” the corporate famous within the 2025 earnings report.
Furthermore, declaring 2026 the “Year of Asia,” we’ll harness the momentum of the Aichi-Nagoya 2026 Events to dedicate our efforts to additional enhancing the model in Asia. Specifically, Asis mentioned it’ll speed up development even additional in Southeast Asia, the place the working market is quickly increasing, aiming to attain $100 million in gross sales throughout Southeast Asian nations at an early stage.
Image courtesy Onitsuka Tiger / Asics Corporation
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