Asics revenue soars 23% in 2021

Asics reported that despite the effects of COVID-19, net sales increased 22.9% in its fiscal year ended December 31 due to strong sales across all regions, primarily driven by the Performance Running category and the Core Performance Sports category. The strongest regional gains were seen in North America, up 31.8%; and Greater China, 27.9%.

Sales reached 404,082 million yen for 2021 from 328,784 million yen in 2020.

Gross profit increased 30.8% to 199,878 million yen due to the impact of increased net sales. Operating income amounted to 21,945 million yen compared to a loss of 3,953 million yen due to an improvement in the gross margin rate.

Ordinary income was 22,166 million yen against a loss of 6,923 million yen. Profit attributable to owners of the parent company was 9,402 million yen compared to a loss of 16,126 million yen.

Category Performance

By product category, net sales of Performance Running increased 31.0% to 208,268 million yen due to strong sales in all regions. The category’s profit increased by 71.2% to 42,634 million yen also due to an improvement in the gross margin rate.

Net sales of Core Performance Sports increased 23.2% to 41,332 million yen due to strong sales in all regions. The category’s profit increased significantly by 260.5% to 5,004 million yen due to an improvement in the gross margin rate, as well as the increase in net sales.

Net sales of Sports Style increased 12.5% ​​to 33,252 million yen due to strong sales in the Europe, Greater China and Oceania regions. The category’s profit increased significantly by 110.1% to 4,310 million yen due to an improvement in the gross margin rate, as well as the increase in net sales.

Apparel and equipment net sales increased 14.5% to 34,115 million yen due to strong sales in Japan, North America and Europe. The category’s loss was 175 million yen, a significant reduction in loss from the prior year, due to an improved gross margin ratio.

Net sales of Onitsuka Tiger increased 13.6% to 38,545 million yen due to strong sales in the Greater China and Southeast and South Asia regions. The category’s profit increased by 34.6% to 4,868 million yen due to an improvement in the gross margin rate, as well as the increase in net sales.

Regional performances

  • Japan: Net sales increased 16.4% to 109,911 million yen due to strong sales of Performance Running category and Core Performance Sports category. Segment income returned to profit at 1,193 million yen, due to an improvement in the selling, general and administrative expense ratio, as well as an increase in net sales.
  • North America: Net sales increased 31.8% to 86,176 million yen due to strong Performance Running sales
    category and Core Performance Sports category. Segment income returned to profit at 848 million yen, due to an improvement in the gross margin rate, as well as the increase in net sales.
  • Europe: Net sales increased 22.1% to 106,604 million yen due to strong sales of Performance Running category, Core Performance Sports category and Sports Style category. Segment revenue increased significantly by 138.2% to 10,889 million yen due to an improvement in gross margin rate, as well as increased net sales.
  • Greater China: Net sales increased 27.9% to 52,593 million yen due to strong sales of Performance Running
    category and Onitsuka Tiger category. Segment revenue increased significantly by 112.5% ​​to 9,147 million yen due to the impact of higher net sales and an improvement in the gross margin rate of retail products. wholesale and retail.
  • Oceania: Net sales increased 24.2% to 24,756 million yen due to strong sales of Performance Running category and Sports Style category. Segment revenue increased by 23.6% to 3,347 million yen, mainly due to the impact of the increase in net profit
    Sales.
  • Southeast and South Asia: Net sales increased 27.5% to 10,903 million yen due to strong sales of Performance Running category and Onitsuka Tiger category. Segment revenue increased significantly by 533.7% to 964 million yen due to the impact of increased net sales
  • Other: Net sales increased 24.3% to 35,133 million yen due to strong sales of the Performance Running category and the Core Performance Sports category. Segment revenue increased significantly by 284.3% to 1,797 million yen, mainly due to the impact of the
    increase in net sales.

Outlook
Looking ahead, Asics said in its statement, “For the fiscal year ending December 2022, production disruptions will persist in the first quarter and logistics costs are expected to increase. In such an environment, we expect to plan a increasing both sales and operating profit while continuing to invest aggressively in marketing.

The outlook for the current year includes:

  • Net sales are expected to reach 420.0 million yen, a gain of 3.9%;
  • Transactions are expected to reach 23.0 million yen, a gain of 4.8%;
  • Ordinary income is expected to reach 22.5 million yen, up 1.5%; and
  • Profit attributable to parent company owners is expected to reach 1¥3.5 million, a gain of 43.6%.

Photo courtesy of Asics

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