Growth across all categories and regions drives Asics Q1 performance

Japanese sportswear company Asics has achieved record financial results for the first quarter and the three months ended March 31, 2026. Net sales increased by 29.7 percent year-over-year (YoY) to reach 270.20 billion yen (1.71 billion dollars).

The growth was observed across all categories and regions, with operating profit rising 36.5 percent to 60.70 billion yen. This performance was driven by strong sales momentum, which successfully offset a decline in gross margin to 54.6 percent. The company noted that the margin was impacted by US tariffs.

Performance across categories and regions

The SportStyle category delivered a significant increase in net sales, rising 69.6 percent to 59.60 billion yen. This growth was particularly pronounced in the US and Europe, where sales increased by over 80 percent. Category profit grew by 75.8 percent to 19.50 billion yen.

Onitsuka Tiger also recorded strong results, with net sales increasing 33.8 percent to 37.80 billion yen. In Japan, the brand benefited from robust demand from inbound tourists, with sales to this group reaching 13.10 billion yen compared to 9.10 billion yen in the same period last year.

The Performance Running category saw net sales grow 19.1 percent to 116.70 billion yen. Growth in this segment was supported by the launch of the 'superblast 3' in February and the continued performance of 'novablast 5'. Category profit reached 29.60 billion yen, up 13.2 percent.

Digital expansion and membership growth

Asics continues to expand its digital footprint through the OneASICS membership program. E-commerce sales for the first quarter rose 12.7 percent to 40.10 billion yen. When excluding the US, where the company implemented a strategic consolidation of its business, e-commerce growth was 24.9 percent.

The company reported a 21.2 percent increase in revenues for its Europe, Middle East, and Africa (EMEA) region during the first quarter of 2026. This performance, which excludes the Onitsuka Tiger brand, highlights a period of profitable growth across all product categories for the group.

The company announced plans to open the 'Asics Technical Lab' in Kobe, Japan, in December 2027. This new production facility will focus on manufacturing shoes for elite athletes and developing footwear technology.

In terms of governance, Asics has appointed its first foreign-born director, Jenifer Rogers. The board of directors currently consists of nine members, including six independent outside directors.

Asics remains cautious due to uncertain global affairs but expects net sales to reach 950 billion yen for the year.