Asics: Fireside chat with President COO - Athletes, Architecture and AI

研报英文原文证据摘录

Asics: Fireside chat with President COO - Athletes, Architecture and AI

22 July 2026

Yugo Shima

+81 3 6777 6994

Japan Consumer yugo.shima@bernsteinsg.com

Asics Corp Ran Yang

+852 2123 2658

Rating ran.yang@bernsteinsg.com

Outperform

Price Target

7936.JP 6,100.00 JPY

Asics: Fireside chat with President COO - Athletes, Architecture

and AI

"How far up the mountain is the transformation?" Every conversation about ASICS Close Date 21 Jul 2026

with investors converges on this one question. Looking back, the last five years read like a

7936.JP Close Price (JPY) 4,853.00

turnaround story almost too good to be true. But its essence was never a flashy strategic

Price Target (JPY) 6,100.00

pivot — it was the patient construction of machinery: rebuilding the operating foundation of

Upside/(Downside) 26%

the company while preserving its founding spirit. A corporate transformation should never be

52-Week Range 5,149.00/3,425.00

told through a single lens; it becomes a durable system only when many complex gears mesh

JPL 2,545.21

at once. Mr. Tominaga is the man who drove that machinery-building globally from the IT side.

FYE Dec

So we put the question to him directly.

Div Yield 0.8%

The answer came back not as a station on the mountain, but as structure. Markdown Market Cap (JPY) (B) 3,564.44

discipline is embedded in compensation ("including executives, we evaluate only on profit EV (JPY) (B) 3,580.95

growth — revenue alone earns you nothing"); forecast accuracy is embedded in the division Performance YTD 1M 6M 12M

of authority (volumes sit with regions, guardrails with categories, in a constant game Absolute (%) 29.2 11.2 21.8 34.9

of catch); and data integrity rests on a global single instance that is rare in this industry JPL (%) 15.4 (4.9) 9.7 40.3