The company behind the Onitsuka Tiger brand, Asics has raised its net profit and sales forecasts for the fiscal year ending December 2024. The company expects a record operating profit of ¥95 billion ($596 million) during the year.
The company has benefited from the weakening yen. Demand outside Japan surged in the second quarter, with a 38 per cent increase in Greater China, a 30 per cent rise in Southeast and South Asia, and a 16 per cent growth in the United States compared to the same period last year. Domestic sales also climbed by 24 per cent.
The company attributes its recent success to the popularity of resurrection models like the Gel-1130 and Gel-Kayano 14, favored by fitness enthusiasts and celebrities such as Hailey Bieber, which are expected to continue performing well in the future.
