Medium-Term Management Plan 2029

Overview of Medium-Term Management Plan 2029

Under the theme AHEAD OF THE GAME, the ASICS Corporation group will evolve the Group Integrated Enterprise (GIE) to maximize group-wide value creation capabilities, and promote growth investments centered on five areas: Product Innovation, Manufacturing, Brand Experience, Partnership, and Capital Policy. By spinning off Onitsuka Tiger from January 2027, ASICS and Onitsuka Tiger will each accelerate brand value enhancement and business growth. The company aims for revenue of 1,500,000 million yen, ROE of 50%, and ROA of 20% by 2029, and plans cumulative shareholder returns of approximately 400,000 million yen.

Capital Policy and Growth Investment Framework

The capital policy will introduce ASICS ACTIVE CAPITAL MANAGEMENT, pursuing an optimal equity level starting from growth investments. Growth investments include approximately 200,000 million yen of CAPEX/right-of-use assets, with separate allocations considered for M&A and equity investments. Shareholder returns target a cumulative payout ratio of 80%, combining flexible treasury stock acquisitions to drive EPS growth and improve capital efficiency. Even after the Onitsuka Tiger spin-off, the group will maintain a common capital strategy and aim to expand DTC by leveraging customer data through OneASICS.