In the period ending March 31, Asics reportedly recorded record quarterly net sales, with an increase of 35% on a currency-neutral basis.

The company noted that this came down to the “normalisation of social and economic activities” in Asia after China lifted its Covid-19 restrictions.

In Japan alone, Asics’ net sales were up by 61.9% to ¥23.1 billion (US$166.65 million) with growth of 41.2% in Greater China to ¥19.1 billion (US$137.79 million). In Southeast and South Asia, sales were up in the period by 91.1% to ¥6.9 billion (US$49.78 million).

In Europe, first quarter sales were up by 43.9% to ¥44.4 billion (US$320.3 million) while North America achieved growth of 23.9% to ¥26.1 billion (US$188.27 million).

Profit attributable to the company owners in the first quarter totalled ¥16.3 billion (US$117.58 million), an increase of 86.9% over the same period of 2022.

In the full 2023 fiscal year, Asics is forecasting a net sales increase of 5.2% to reach ¥510 billion (US$3.68 billion) and net income of ¥20 billion (US$144.27 million).