ASICS Breaks Records with Highest-Ever Sales and Profits in FY2024
During its financial results briefing for the fiscal year ending December 2024, ASICS made headlines with its groundbreaking performance. The Japanese sportswear label shattered its previous records, achieving its highest-ever sales, operating profit, and net income.
ASICS saw a remarkable 18.9% increase in sales, reaching an impressive ¥678.5 billion JPY. The brand’s operating profit also soared by 84.7%, crossing the ¥100 billion JPY mark for the first time at ¥100.1 billion JPY. Net income also experienced a significant boost, rising by 80.9% to ¥53.8 billion JPY.
SportStyle and Onitsuka Tiger Lead the Way
ASICS’ SportStyle and Onitsuka Tiger categories proved to be major contributors to the brand’s success, acting as its “second pillar of business” after Performance Running. Both categories achieved net sales of approximately ¥100 billion JPY. Onitsuka Tiger, in particular, saw a remarkable 58.3% increase in net sales and a profit margin of 34%, making it the most profitable category for ASICS.
The “CPS (Core Performance Sports)” category, which includes products for tennis and indoor athletics, also experienced significant growth in several global regions. ASICS’ president, Tominaga Mitsuyuki, shared, “We are focusing on tennis because of its popularity among star players. It is a lifestyle sport that appeals to people of all ages, and we have also seen a rise in popularity for similar sports like pickleball and padel in North America and Europe. We believe there is still room for growth in this category.”
Plans for the Future
Looking ahead to 2025, ASICS has big plans to give back to the community. The brand will establish its own foundation, which will support the development of sports infrastructure and provide athletic equipment to various communities. ASICS stated, “We aim to improve accessibility to sports by globally supporting organizations that assist people in socially or economically difficult situations. Our goal is to address social issues related to exercise and sports and promote the physical and mental well-being of as many people as possible.”
To learn more about ASICS’ impressive financial performance in FY2024, check out their full financial report here.
