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Investing.com -- Asics reported strong third-quarter results that exceeded market expectations, despite the stock closing down 0.5% relative to TOPIX following the 1pm (Japan) announcement on Wednesday.
The sportswear company posted an operating profit of ¥46.5 billion for the quarter, representing a 43% year-over-year increase. This figure surpassed the FactSet consensus estimate of ¥44.6 billion.
Compared to the company’s January-September cumulative plan, Asics achieved sales that were ¥8.0 billion higher and operating profit that was ¥10.0 billion above target. While regional performance showed some variations, the company maintained strong overall momentum.
In addition to the quarterly results, Asics announced a ¥30.0 billion share buyback program scheduled to run from November 13 to January 31. The company also raised its full-year guidance, a move that came when market expectations for such an increase were reportedly low.
October sales reached ¥66.6 billion, representing a 14.0% increase on a constant currency basis.
According to Morgan Stanley analysts, the results "offered a number of positives that should heighten expectations" for the fiscal year ending December 2026, suggesting the slight stock decline might not align with the company’s performance indicators.
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