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AsicsASICS Corporation7936東証プライムその他製品FY ending Dec 2025, consolidated, J-GAAP

Asics FY ending Dec 2025 results

About 28% of Asics's sales come from Europe, with Japan and North America making up much of the rest.

Out of every ¥100 of sales, about ¥18 is left as operating profit.

Revenue changed +19.5% from the prior year, operating profit +42.4%.

Revenue and profit pattern

Revenue and profit upProfit grew faster

Revenue +19.5% · profit +42.4%, calculated from disclosed figures.

Operating leverage: 2.17× (profit growth ÷ revenue growth)

What changed from last year

FY ending Dec 2024 → FY ending Dec 2025

Revenue
+19.5%¥678.5B → ¥810.9B
Gross profit
+21.6%¥378.9B → ¥460.6B
Operating income
+42.4%¥100.1B → ¥142.5B
Net income attributable to owners
+54.7%¥63.8B → ¥98.7B
Operating cash flow
+5.1%¥104.6B → ¥109.9B
Free cash flow
-1.2%¥80.6B → ¥79.6B

Results at a glance

  • Revenue for FY ending Dec 2025 was ¥810.9B, up +19.5% from ¥678.5B the year before.
  • Profit grew faster than sales: operating income reached ¥142.5B (+42.4%) and net income ¥98.7B (+54.7%).
  • Free cash flow, however, was ¥79.6B, down -1.2% and roughly flat.

What drove the change

  • Sales grew in every product category and every region.
  • A focus on higher-value products improved the gross margin, which lifted profit.
  • SportStyle and Onitsuka Tiger grew the most, and Onitsuka Tiger opened large flagship stores in Europe.

Things to watch

  • Shoe materials are tied to oil prices, so big swings in oil can change purchase costs.
  • Much of production is outsourced to factories mainly in Southeast Asia, so delays or shutdowns there could hurt sales.
  • Competitors' innovations could reduce ASICS sales or shrink its sales channels.

Annual Securities Report (72nd fiscal period) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report (72nd fiscal period) / 事業等のリスク

Where the money goes

FY ending Dec 2024 → FY ending Dec 2025

Where ¥100 of sales goes

For every ¥100 Asics sells, how much goes where, and how much is kept.

FY ending Dec 2025
Cost of sales
¥43
SG&A
¥39
Operating profit
¥18
Net profit kept
¥12

Annual margin trends

Gross margin56.8%
FY ending Dec 2020: 46.5%46.5%FY ending Dec 2021: 49.5%49.5%FY ending Dec 2022: 49.7%49.7%FY ending Dec 2023: 52.0%52.0%FY ending Dec 2024: 55.8%55.8%FY ending Dec 2025: 56.8%56.8%FY20FY21FY22FY23FY24FY25
Operating margin17.6%
FY ending Dec 2020: -1.2%-1.2%FY ending Dec 2021: 5.4%5.4%FY ending Dec 2022: 7.0%7.0%FY ending Dec 2023: 9.5%9.5%FY ending Dec 2024: 14.8%14.8%FY ending Dec 2025: 17.6%17.6%FY20FY21FY22FY23FY24FY25
Net margin12.2%
FY ending Dec 2020: -4.9%-4.9%FY ending Dec 2021: 2.3%2.3%FY ending Dec 2022: 4.1%4.1%FY ending Dec 2023: 6.2%6.2%FY ending Dec 2024: 9.4%9.4%FY ending Dec 2025: 12.2%12.2%FY20FY21FY22FY23FY24FY25

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Dec 2025

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第72期(2025/01/01－2025/12/31)

    ID S100XOKI2026-03-04Open

  • EDINET (FSA Japan)

    有価証券報告書－第71期(2024/01/01－2024/12/31)

    ID S100VIXM2025-03-31Open

  • EDINET (FSA Japan)

    有価証券報告書－第70期(2023/01/01－2023/12/31)

    ID S100T3S42024-03-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第69期(2022/01/01－2022/12/31)

    ID S100QG4R2023-03-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第68期(令和3年1月1日－令和3年12月31日)

    ID S100NR3M2022-03-28Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第67期(令和2年1月1日－令和2年12月31日)

    ID S100L3KR2021-04-01Open

Extracted from XBRL: 56 / Derived from other figures: 1

Spotted an error? Report it (corrections keep the original record)

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