Onitsuka Tiger gave Asics Corp. a very healthy second quarter and first half earnings report.
Asics said in June that it plans to spin off its Onitsuka Tiger brand, set to occur on Jan. 1, 2027. The nearly 80-year-old brand will be spun into a new wholly-owned subsidiary of Asics call OT Group Corp. The move will help the brand establish its position as a “luxury” lifestyle brand.
Asics said on Friday in its first-half report that second quarter profit was up 62.1 percent to 35.6 billion yen, while net sales rose 35.9 percent to 264.2 billion yen. It also noted that all regions showed sales and operating profit growth.
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The standout in the quarter in its Japan operations was its premium lifestyle brand Onitsuka Tiger, which saw “strong demand from inbound tourism,” the company said, adding that Europe and Greater China also saw sales growth.
For the first half, profits rose 53.3 percent to 82.1 billion yen, while net sales increased 32.7 percent to 534.4 billion yen.
At Onitsuka Tiger, net sales for the first half through June rose 35.9 percent to 89.5 billion yen, reflecting double-digit increases across all regions, led by Japan. Flagship stores were opened in July in Shinjuku, Japan, which is now its largest global store featuring the full brand lineup, and in Shanghai, China, as well as in August in Nagoya, Japan. Flagship stores are slated to open in Milan, Italy, in September, and in Seoul, Korea, in October. The company also disclosed that it plans to open a store in Los Angeles in 2027, as part of a plan to open doors that “embody the brand’s vision and re-enter the North American market as omnichannel hubs.”
In the performance running category, net sales for the six months rose 19.3 percent to 220.6 billion yen and was driven by continued strong growth of it Bounce shoe, while the Gel-Kayano 33, launched in June, delivered a “strong start,” the company said. Sales growth was driven by strong performance from its Gel-1130, Gel-NYC, and Gel-Kayano 14 styles, as as the successful launch of its Gel-Cumulus 16 and Gel-NYC 2.0 shoes.
In SportStyle, net sales spiked 83.0 percent to 123.1 billion yen for the first half. Sales growth was driven by strong performance from its Gel-1130, Gel-NYC, and Gel-Kayano 14 styles, as as the successful launch of its Gel-Cumulus 16 and Gel-NYC 2.0 shoes.
In Asics Walking, net sales in the first half rose 9.8 percent to 8.6 billion yen. Examples of top walking shoes include the Runwalk Trad Sneaker and the Gel-Ridewalk GTX 2. As it repositions Asics Walking as a premium brand, the company will also gradually revamp the design of its company-owned stores. Asics is planning overseas expansion in the second half of 2026, starting in Greater China and other regions. It also plans to restructure its domestic operations and consolidate its membership programs under the “OneAsics” brand.
The domestic operation restructuring will see Asics Trading Co. Ltd. transfer its walking business to Asics Corp. and Asics Japan Co., Ltd., effective Jan. 1, 2027. Operations connected to Asics Trading will be wound down, after which the entity will dissolve and liquidate. The company expects to record 7.0 billion yen as an extraordinary loss in connection with the transition, which includes a special career transition support program for employees impacted by the change.
In core performance sports, net sales for the six months rose 24.9 percent to 55.1 billion yen, driven by strong growth in tennis and indoor sports, such as volleyball. An example of a volleyball shoe is the Sky Elite FF4, the flagship model of the Cushion and Bounce series, that’s designed to support higher jumps and stable landings.
In the apparel category, net sales rose 28.1 percent for the six months ended June 2026 to 25.6 billion yen. Sales were driven by Europe, which saw strong running apparel sales, as well as regions that include Greater China, North America, and Southeast and South Asia.
Looking ahead, Asics is now forecasting 1.050 trillion yen in net sales for fiscal year 2026, up from the prior forecast of 950.0 billion yen. Profits were guided to 120.0 billion yen, up from the prior forecast of 110.0 billion yen.
The company said it established research and development centers in Europe this past June and in North America last December to drive innovation as it builds a “global R&D network.”
Asics also noted that it has received tariff refunds from the U.S. government totaling $28 million for payments made through Feb. 23, 2026.
