Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Asics (7936) | Delivers Strong Q3 Performance Amid Challenging Conditions

Equity Bottom-Up

<ul>
<li>Asics is seeing robust D2C sales growth, now 40% of total sales, driving gross margins to 55.5% (+4.5 pp YoY) in 1H24.</li>
<li>High-Margin models and strong sales in Onitsuka Tiger and Sportsstyle categories support a forecasted 13% YoY sales increase in 2H24.</li>
<li>Asics' strategic transformation, focusing on structural reforms and emerging markets, to drive upgraded MTP though FY26.</li>
</ul>


Asics is seeing robust D2C sales growth, now 40% of total sales, driving gross margins to 55.5% (+4.5 pp YoY) in 1H24.
High-Margin models and strong sales in Onitsuka Tiger and Sportsstyle categories support a forecasted 13% YoY sales increase in 2H24.
Asics' strategic transformation, focusing on structural reforms and emerging markets, to drive upgraded MTP though FY26.


Asics (7936) | Q3 Preview; Revision of MTP

ASICS Corp

Asics (7936) | Q3 Preview; Revision of MTP