Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Why Onitsuka Tiger Will Be Better Positioned on Its Own

Equity Bottom-Up

<ul>
<li>ASICS delivered record Q1 sales and profitability, driven by premiumization, exceptional SportStyle growth, and continued strength in core Performance Running across all regions.</li>
<li>Despite gross margin pressure from US tariffs, operating margin expanded to 22.5%, significantly above full-year guidance, highlighting strong pricing power and operating leverage.</li>
<li>Shares sold off after unchanged guidance and softer April sales data, but earnings risks remain skewed upward despite increasingly demanding valuation multiples.</li>
</ul>


ASICS delivered record Q1 sales and profitability, driven by premiumization, exceptional SportStyle growth, and continued strength in core Performance Running across all regions.
Despite gross margin pressure from US tariffs, operating margin expanded to 22.5%, significantly above full-year guidance, highlighting strong pricing power and operating leverage.
Shares sold off after unchanged guidance and softer April sales data, but earnings risks remain skewed upward despite increasingly demanding valuation multiples.


ASICS (7096)| SportStyle Momentum Drive Record Results

ASICS Corp

ASICS (7096)| SportStyle Momentum Drive Record Results