ASICS Corporation · Fiscal year ended December 2025
Is ASICS mainly a running-shoe company?
Running shoes are the obvious way to picture ASICS. FY2025 confirms that the image is still grounded in reality: Performance Running is the company's largest category at ¥363.5 billion. But beside it, SportStyle and Onitsuka Tiger are growing rapidly, and their combined category profit now exceeds Performance Running. Running remains the core, while the ways ASICS monetizes that core are spreading outward.
This is not investment advice or a stock recommendation. We reorder company-published primary-source facts to make the shape of the business easier to see.
Running shoes are the most obvious way to picture ASICS.
The FY2025 numbers show that this image is still substantially correct.
But stopping there misses a second growth engine that has become too large to ignore.
Sales are ¥810.9 billion
Most of those sales are generated outside Japan.
80.5% of sales are in foreign markets
What generates that revenue?
Performance Running is the largest category at ¥363.5bn
That is about 44.8% of consolidated sales by simple calculation.
So the familiar picture of ASICS as a running company has real weight.
Performance Running represents about 44.8% of sales
But two adjacent categories are growing much faster.
SportStyle is ¥141.3bn
The other is Onitsuka Tiger.
Onitsuka Tiger is ¥136.5bn, with a 37.7% category margin
Running remains largest, but two lifestyle categories are now substantial
FY2025 category sales.
Together, SportStyle and Onitsuka Tiger generated ¥277.8 billion in sales.
That is about 34.3% of consolidated sales.
The profit comparison is even more striking.
SportStyle + Onitsuka Tiger generate ¥92.7bn in category profit
Two lifestyle categories together now exceed running on category profit
FY2025 category profit. SportStyle + Onitsuka Tiger is a site-calculated sum.
That does not mean ASICS is leaving running behind.
The running side itself is also expanding beyond the sale of shoes.
OneASICS has 23.13 million members
Even sales recorded in Japan increasingly include global demand.
¥41.5bn of ¥47.4bn in Japan inbound sales came from Onitsuka Tiger
It is still reasonable to think of ASICS as a running company.
But running is increasingly the starting point rather than the boundary of the business.
THE VIEW AFTER THE NUMBERS
What the numbers suggest
ASICS has not stopped being a running-shoe company.
Performance Running remained the largest FY2025 category at ¥363.5 billion in sales.
At the same time, SportStyle and Onitsuka Tiger generated ¥277.8 billion in combined sales. Their combined category profit was ¥92.7 billion, above Performance Running’s ¥86.0 billion. Onitsuka Tiger’s category profit margin reached 37.7%.
And 80.5% of total sales came from foreign markets, while OneASICS membership reached 23.13 million.
Running therefore functions as more than one product category. It is also a starting point from which technology, design, brand value and customer relationships are extended into other markets.
From performance shoes to SportStyle, a Japan-originated luxury ambition in Onitsuka Tiger, and race registration and membership services, large businesses are growing around the running core.
Primary sources used
Consolidated Financial Summary for the Fiscal Year Ended December 31, 2025 (with script)
ASICS Corporation · 2026-02-13
Pages used: p.4 / p.4-5 / p.9 / p.12 / p.21 / p.21-22 / p.22 / p.26-27 / p.28-29
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