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Investing.com -- Asics shares jumped 17% compared to the TOPIX index following the company’s release of second-quarter results, driven by an upward revision to full-year guidance and strong July performance.
The company reported second-quarter operating profit of ¥36.6 billion, representing a 45% year-over-year increase. This significantly exceeded the FactSet consensus estimate of ¥31.1 billion.
Asics sales outperformed company plans by ¥10.9 billion, while operating profit exceeded projections by ¥8.6 billion. Cost management contributed to the profit beat, with ¥3.4 billion coming from reduced SG&A spending.
Regional performance was described as mixed, though the company maintained strong overall momentum. July sales reached ¥81.6 billion, marking a 20.9% increase on a constant-currency basis. North American results were partially influenced by some shipment front-loading.
The company raised its dividend plan from ¥26 to ¥28 per share and revised its full-year forecast upward by ¥16 billion. This revision includes ¥12.1 billion from first-half outperformance and an additional ¥3.9 billion added to second-half projections.
Morgan Stanley analysts noted "residual scope to overshoot the new full-year plan," describing the company’s SG&A cost assumptions as "conservative."
Asics also reduced its forecast for US tariff impact in fiscal year 2025 from ¥5 billion to approximately ¥3 billion.
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