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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  ASICS Corporation    7936   JP3118000003

ASICS CORPORATION

(7936)
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ASICS : VENTURES TAKES STAKE IN PYRATES SMART FABRICS, DEVELOPER OF SUSTAINABLE FABRICS

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09/26/2019 | 04:18am EDT

ASICS Corporation (ASICS) announces that ASICS Ventures Corporation (ASICS Ventures), its investment subsidiary, has taken an equity stake in PYRATES Smart Fabrics, a Spanish startup that develops and supplies advanced and responsible fabrics. PYRATES Smart Fabrics is established in 2014 and led by Regina Polanco.
Following 3 years of R&D, PYRATES Smart Fabrics has developed a range of 9 PYRATEX knitted fabrics that can be applied in the field of sportswear, underwear, Prêt à Porter and athleisure. And with high environmental performance and social consideration, some the fabrics are certified by OEKO-TEX® standard which assure the articles are harmless in human ecological terms. Having received in 2019 the grant of phase 1 of Horizon2020 has been a confirmation from the European Union as an advanced textile company. PYRATES Smart Fabrics aims to be a leading driver in the textile industry, through its naturally functional fabrics which it supplies through a b2b business model.
PYRATES Smart Fabrics participated in the first edition of the ASICS TENKAN-TEN Growth Catalyst - the global corporate acceleration program for sports & well-being growth stage startups. Through the program ASICS provided high performance services, mentoring, networking and financial support that allowed PYRATES Smart Fabrics to expand their business and to get investment ready.
At ASICS, sustainability is in our DNA. We aim to include social and environmental considerations in all our business decisions. ASICS continues to introduce advanced technology for our products to improve both sustainability and functionality, and shift to sustainable materials.
ASICS is currently planning a capsule collection release for the beginning of 2020, made from PYRATEX fabrics.
ASICS wishes to achieve sustainable growth by focusing on new business development efforts through ASICS Ventures.

Name:     PYRATES Smart Fabrics
Headquarters :  Calle del Poeta Joan Maragall 56, 28020, Madrid, SPAIN
Founder:    Regina Polanco
Business:    Developing and supplying advanced and sustainable fabrics
URL:       www.pyratessmartfabrics.com
Name:     ASICS Ventures Corporation
Headquarters :  7-1-1, Minatojima Nakamachi, Chuo-ku,Kobe, JAPAN
Representative: Hiroaki Kageyama
Business:    Investing in startups, promoting business development
〇 ABOUT ASICS TENKAN-TEN
The ASICS TENKAN-TEN Sports & Well-Being Growth Catalyst is a global start up acceleration program focusing on growth stage startups helping them to scale their businesses.
In 2018, five start-ups from across the globe were selected to be part of the first program. The next edition will start in September 2019 and end in January 2020. For more information on the program, please visit www.tenkan-ten.com


Disclaimer

Asics Corporation published this content on 26 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 September 2019 08:17:02 UTC

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Sales 2020 323 B 3 048 M 3 048 M
Net income 2020 -4 444 M -42,0 M -42,0 M
Net Debt 2020 30 000 M 283 M 283 M
P/E ratio 2020 -48,7x
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EV / Sales 2021 0,74x
Nbr of Employees 9 039
Free-Float 91,5%
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Mean consensus HOLD
Number of Analysts 10
Average target price 1 292,22 JPY
Last Close Price 1 326,00 JPY
Spread / Highest target 28,2%
Spread / Average Target -2,55%
Spread / Lowest Target -37,4%
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Motoi Oyama Chairman & Chief Executive Officer
Yasuhito Hirota President, COO & Representative Director
Koji Hayashi Executive Officer & Senior Manager-Finance
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