ASICS Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 8%, Adds to Record High Profit Forecast

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Fri Nov 8, 2024 1:00 pm JST Earnings

7936 ASICS Corporation 【J-GAAP】

Earnings Report

ASICS Corporation <7936> [TSE-P] announced its financial results in the afternoon session on November 8th (13:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 88.2 billion yen, an increase of 61.2% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 7.9%, from the previous forecast of 89 billion yen to 96 billion yen (compared to 50.6 billion yen in the previous period), increasing the growth rate from 75.6% to 89.5%, further surpassing the previous forecast of record-high profits for three consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) is expected to increase by 22.5%, from the previous forecast of 31.1 billion yen to 38.1 billion yen (compared to 16.8 billion yen in the same period of the previous year), increasing the growth rate from 85.0% to 2.3 times.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 45.5% from the same period last year, reaching 30.4 billion yen. The operating profit margin rose from 14.0% in the same period last year to 17.7%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	363,068	36,051	34,219	23,245	31.7	110.7	Nov 11, 2022	J-GAAP
Jan - Sep, 2023	448,105	55,805	54,748	40,280	55.0	108.0	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	525,454	91,523	88,279	64,940	89.6	92.0	Nov 8, 2024	J-GAAP
YoY	+17.3%	+64.0%	+61.2%	+61.2%	+63.0%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	317,801	36,004	31,178	15,781	22.1	10	Aug 13, 2024	J-GAAP
Jul - Dec, 2024 New	337,801	41,004	38,178	20,781	29.0	10	Nov 8, 2024	J-GAAP
Revision Rate	+6.3%	+13.9%	+22.5%	+31.7%	+31.7%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	660,000	95,000	89,000	58,000	81.0	20	Jul 12, 2024	J-GAAP
Dec, 2024 New	680,000	100,000	96,000	63,000	88.0	20	Nov 8, 2024	J-GAAP
Revision Rate	+3.0%	+5.3%	+7.9%	+8.6%	+8.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	280,384	20,605	16,852	10,476	14.3	10	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	337,801	41,004	38,178	20,781	29.0	10	Nov 8, 2024	J-GAAP
YoY	+20.5%	+99.0%	+126.5%	+98.4%	+103.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	484,601	34,002	30,913	19,887	27.2	10	Feb 10, 2023	J-GAAP
Dec, 2023	570,463	54,215	50,670	35,272	48.1	16.25	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	680,000	100,000	96,000	63,000	88.0	20	Nov 8, 2024	J-GAAP
YoY	+19.2%	+84.5%	+89.5%	+78.6%	+82.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	158,026	22,195	20,930	15,484	21.1	14.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	122,358	-1,590	-4,078	-5,008	-6.8	-1.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	174,102	33,812	33,076	26,737	36.7	19.4	May 10, 2024	J-GAAP
Apr - Jun, 2024	168,097	25,184	24,746	15,482	21.3	15.0	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	183,255	32,527	30,457	22,721	31.4	17.7	Nov 8, 2024	J-GAAP
YoY	+16.0%	+46.6%	+45.5%	+46.7%	+48.4%