The top and bottom lines at Asics Corp. rose in the second quarter on the continuation of strong running sales.
In the quarter ended Sept. 30, net income increased 13.8 percent to 5.81 billion yen, or $72.5 million at current exchange, while revenue advanced 2.2 percent to 126.6 billion yen, or $1.58 billion.
Earnings per share were 30.65 yen, or 38 cents, compared with 26.94 yen, or 34 cents, the same period a year ago.
Domestic sales in Japan inched up 0.4 percent to 43.39 billion yen, or $541 million, mainly due to the strong sales of running shoes and training wear despite the weak sales of baseball wear and equipment.
Overseas sales were stronger, increasing 3.1 percent to 83.22 billion yen, or $1.04 billion, thanks to robust sales of running shoes in the Americas, Europe and other regions.
The company said in a statement that the Japanese economy continues to face difficult economic conditions due to the effects of weak consumer consumption and deflation, and was not immune to the worsening of the sovereign debt problem in Europe.
The firm added, “In the sporting goods industry, interests in sport remained at a high level owing to rising health consciousness on the back of a running boom and other factors, but business conditions remained challenging.”
In a separate release, Asics America Group, which includes the markets of United States, Brazil and Canada, said first half 2012 net income rose 17.9 percent over the same period in 2011. Revenue improved 14.1 percent, on the back of double-digit growth in all categories, which includes footwear, apparel and accessories.
Asics America’s president and CEO Kevin Wulff said in a statement, “We are continuing to see significant growth and are on track to reach our… 2015 big goal of becoming a billion dollar company.”