For the six months ended 30 June 2026, Asics recorded consolidated net sales of ¥534.4 billion (~$3.36 billion, as per conversion rate of $1 = ¥159.2045 as on August 17, 2026), a 32.7 per cent increase year on year (YoY). Operating profit surged 48.5 per cent to ¥120.4 billion (~$756.26 million), with an operating margin of 22.5 per cent, up 2.4 percentage points.
Asics posted record Q2 FY26 results, with first-half net sales up 32.7 per cent to ¥534.4 billion (~$3.36 billion and operating profit up 48.5 per cent.
SportStyle, Onitsuka Tiger and Performance Running drove growth, with sales and profit rising across all major regions.
Margin gains, cost control and lower inventories helped offset tariffs and costs; Asics lifted FY26 sales and profit outlook.
The company’s performance was propelled by exceptional growth in its SportStyle and Onitsuka Tiger brands, as well as continued momentum in Performance Running, with both sales and profitability reaching all-time highs despite ongoing cost pressures and tariff headwinds.
The net profit attributable to owners of the parent soared 53.3 per cent to ¥82.1 billion (~$515.69 million). Gross profit rose 34.1 per cent to ¥306.2 billion (~$1.92 billion), with gross margin improving to 57.3 per cent. Earnings before interest, tax, depreciation and amortisation (EBITDA) and earnings per share (EPS) also improved significantly, Asics said in a press release.
Regional and category performance drives growth
All major regions delivered sales and profit growth. In North America, net sales increased 28.1 per cent YoY, led by a 90 per cent surge in SportStyle sales, while operating margin improved to 20.1 per cent. Europe posted a 46.4 per cent sales rise, also driven by SportStyle and Onitsuka Tiger, with operating margin up to 20.8 per cent.
Geographically, China achieved a 30.7 per cent sales increase, Southeast and South Asia grew 33.9 per cent, and Japan saw sales rise 6.9 per cent, with strong inbound tourism boosting Onitsuka Tiger sales.
All product categories contributed to growth: SportStyle sales jumped 83.0 per cent, Onitsuka Tiger rose 35.9 per cent, and Performance Running grew 19.3 per cent. Category profit margins improved across the board, with SportStyle at 34.0 per cent and Onitsuka Tiger at 39.7 per cent.
Margin expansion and cost control support profitability
Asics’ gross margin expanded by 0.6 percentage points to 57.3 per cent, supported by pricing optimisation and favourable product mix, despite the negative impact of higher wholesale channel share and US tariffs.
Selling, general and administrative (SG&A) expenses increased due to higher personnel and advertising costs, but the SG&A-to-sales ratio improved by 1.8 percentage points to 34.8 per cent, reflecting strict cost control.
The operating margin rose to 22.5 per cent from 20.1 per cent a year earlier. Inventory levels declined by ¥4.2 billion (~$26.38 million) from the previous fiscal year-end, underscoring improved inventory management.
Upgraded full-year forecast on sustained momentum
Buoyed by its record H1 performance and ongoing strength in SportStyle and Onitsuka Tiger, Asics raised its FY26 guidance. The company now expects full-year net sales of ¥1,050.0 billion (~$6.60 billion), up from the previous forecast of ¥950.0 billion (~$5.97 billion), representing a 29.5 per cent YoY increase.
The operating profit is projected at ¥195.0 billion (~$1.22 billion), up 36.8 per cent YoY, while net profit is forecast to reach ¥120.0 billion (~$753.75 million), a 21.6 per cent increase.
The outlook assumes continued robust demand across all categories and regions, as well as ongoing cost discipline and strategic investments in branding and innovation.
The company said in its earnings release that it will continue to prioritise global expansion, premium brand positioning, and operational efficiency as key pillars for sustainable growth in the coming quarters.
Fibre2Fashion News Desk
