Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

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<p>70% of sales account for sports shoes and the company has clearly benefitted from the trend globally towards a more active lifestyle. Running shoe demand, led but Nike and Adidas, has seen phenomenal growth over recent years. At Asics, sales have risen from Y171bn to 3/06 (OP of Y16.4bn) to Y403bn expected to 12/16 (OP of Y23bn). Japan accounts for 25% of sales, EMEA 27% and Americas 28%.</p><p>In the Americas (mainly US and Brazil) the situation is worse than expected. Performance running shoes are…</p>

70% of sales account for sports shoes and the company has clearly benefitted from the trend globally towards a more active lifestyle. Running shoe demand, led but Nike and Adidas, has seen phenomenal growth over recent years. At Asics, sales have risen from Y171bn to 3/06 (OP of Y16.4bn) to Y403bn expected to 12/16 (OP of Y23bn). Japan accounts for 25% of sales, EMEA 27% and Americas 28%.In the Americas (mainly US and Brazil) the situation is worse than expected. Performance running shoes are…

Growth Is Slowing, the Shares Are Expensive (28x 12/17). No Reason to Own This Name.

Japan

ASICS CORPORATION manufactures general sporting goods and equipment.  The Company's products, such as athletic shoes and sportswear, are distributed in the United States, Europe, Australia, and Asia.

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ASICS Corp (7936 JP)

Growth Is Slowing, the Shares Are Expensive (28x 12/17). No Reason to Own This Name.

70% of sales account for sports shoes and the company has clearly benefitted from the trend globally towards a more active lifestyle. Running shoe...

Pearl Hill Advisors

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