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    7936   JP3118000003

ASICS CORPORATION

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ASICS : Notice Concerning the Revision of the Consolidated Business Results Forecast for the Fiscal Year Ending December 31, 2021

05/13/2021 | 02:48am EDT

Note: This document is a translation of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

May 13, 2021

Name of the Company: ASICS Corporation

President and COO, Representative Director : Yasuhito Hirota

Executive Officer, Senior General Manager,

Accounting and Finance Division

: Koji Hayashi

Telephone Number

: +81(0)50-1744-3104

Code Number: 7936 Listing Exchanges: Tokyo

Notice Concerning the Revision of the Consolidated Business Results Forecast

for the Fiscal Year Ending December 31, 2021

ASICS Corporation (the "Company") hereby announces revision of the consolidated business results forecast for the fiscal year ending December 31, 2021.

1. Revision of the consolidated business results forecast for the fiscal year ending December 31, 2021 (January 1, 2021 - December 31, 2021)

(Amount: million yen)

Profit

Net sales

Operating

Ordinary

attributable

Net income

income

income

to owners of

per share

parent

Previous forecast (A)

370,000

7,000

4,000

2,000

10.94

~385,000

~10,000

~7,000

~3,500

~19.14 yen

New forecast (B)

385,000

11,500

10,000

2,000

10.93

~395,000

~13,500

~12,000

~3,500

~19.13 yen

Amount changed (B-A)

10,000

3,500

5,000

-

-

~15,000

~4,500

~6,000

Percentage of change (%)

2.6

35.0

71.4

-

-

~4.1

~64.3

~150.0

(Reference)

Actual results for the fiscal

328,784

(3,953)

(6,923)

(16,126)

(88.17) yen

year ended December 31, 2020

2. Reasons for the revision of the consolidated business results forecast

In the first quarter ended March 31, 2021, the sales increased mainly in North America, Europe, Greater China and Oceania along with the strong growth in Performance Running category. Operating Income returned to the black with improvement of gross profit ratio and S.G.& A. control. However, the Company expects that the severe external environment would continue due to the coronavirus disease (COVID-19) and some geopolitical risks. Although profitability of temporary events is expected to be lower than the initial prediction announced in February 2021, the Company made an upward revision to the net sales, operating income and ordinary income due to the strong sales momentum mainly in Performance Running category.

Profit attributable to owners of parent is the same as previous forecast, because, at this point, the impact of the external environment such as COVID-19is uncertain and there would be a possibility to record an extraordinary loss. The updated forecast also has a range in consideration of the above uncertain factors.

1

With respect to this consolidated business results forecast, the actual results may differ significantly from this forecast due to various factors such as another major downturn in economic activity because of COVID-19. In the event that matters to be disclosed occur, the Company will make an announcement of the effect on the business results then.

*Explanation on the appropriate use of the business results forecast and other special notes Forward-looking statements in this document, such as business results forecasts, are based on information currently available to the Company and certain assumptions that the Company considers to be reasonable. The statements are not intended to be a promise by the Company to achieve those results. Actual results may significantly differ from these statements due to various factors.

End

2

Disclaimer

Asics Corporation published this content on 13 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2021 06:47:01 UTC.


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Sales 2021 390 B 3 572 M 3 572 M
Net income 2021 5 474 M 50,1 M 50,1 M
Net cash 2021 46 018 M 421 M 421 M
P/E ratio 2021 80,7x
Yield 2021 1,03%
Capitalization 442 B 4 044 M 4 043 M
EV / Sales 2021 1,01x
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Mean consensus HOLD
Number of Analysts 7
Last Close Price 2 416,00 JPY
Average target price 2 740,00 JPY
Spread / Average Target 13,4%
EPS Revisions
Managers and Directors
Motoi Oyama Chairman & Chief Executive Officer
Yasuhito Hirota President, COO & Representative Director
Koji Hayashi Senior Manager-Finance & Accounting
Hitoshi Kashiwaki Independent Outside Director
Kazuo Sumi Independent Outside Director
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