ASICS (7936) Q4 2025 earnings summary

Executive summary

• Achieved record revenue and profit for the fifth consecutive year, with all categories and regions contributing to growth.

• Net sales reached ¥810.9 billion, up 19.5% year-over-year, with operating profit at ¥142.5 billion, up 42.4%.

• SportStyle and Onitsuka Tiger surpassed ¥100 billion in net sales for the first time.

• Major initiatives included global brand expansion, innovation partnerships, and the establishment of the ASICS Foundation to promote health and exercise.

• Recognized for excellence in corporate governance, IR activities, and sustainability.

Financial highlights

• Net sales rose 19.5% year-over-year to ¥810.9 billion; operating profit up 42.4% to ¥142.5 billion; profit attributable to owners up 54.7% to ¥98.7 billion.

• Gross margin improved by 1.0ppt to 56.8%; operating margin increased by 2.8ppt to 17.6%.

• Gross profit rose 21.6% to ¥460.6 billion.

• Q4 operating profit surged 73.7% year-over-year to ¥14.9 billion.

• Cash and cash equivalents at year-end were ¥112.2 billion, down from ¥127.0 billion the previous year.

Outlook and guidance

• FY26 forecast: net sales of ¥950.0 billion (+17.2% YoY), operating profit of ¥171.0 billion (+20.0% YoY), and profit attributable to owners of ¥110.0 billion (+11.4% YoY).

• Operating margin is expected to rise to 18.0%.

• Annual dividend planned at ¥38.0, a record high, reflecting strong performance and cash flow.