Summary of Consolidated Financial Statements For the Third Quarter Ended September 30, 2021 (Japan GAAP) November 5, 2021 Name of the Company: ASICS Corporation Listing Exchanges: Tokyo Code No.: 7936 URL: https://corp.asics.com/en/ President and COO, Representative Director: Yasuhito Hirota Date of filing Securities Report by quarter: November 8, 2021 Date of scheduled payment of dividends: – Quarterly Results Supplemental Materials: Yes Quarterly Results Presentation Meeting: Yes (Conference call for institutional investors, analysts and press in Japan) (Amounts less than one million yen are truncated) 1. Consolidated results for the third quarter ended September 30, 2021 (January 1, 2021 – September 30, 2021) (1) Consolidated business results (Accumulated) (The percentages indicate the rates of increase or decrease compared with the corresponding period of the previous fiscal year) Net sales Operating income Ordinary income Profit attributable to owners of parent MY % MY % MY % MY % 3rd quarter ended September 30, 2021 322,207 29.8 35,785 991.2 35,681 – 19,073 – 3rd quarter ended September 30, 2020 248,206 (13.3) 3,279 (74.1) 259 (98.0) (3,408) – (Note) Comprehensive income: 3rd quarter ended September 30, 2021: ¥ 31,516 million (– %) 3rd quarter ended September 30, 2020: ¥ (8,701) million (– %) Net income per share Diluted net income per share Yen Yen 3rd quarter ended September 30, 2021 104.23 104.12 3rd quarter ended September 30, 2020 (18.64) – (2) Consolidated financial position Total assets Net assets Shareholders’ equity ratio MY MY % As of September 30, 2021 347,505 152,022 43.6 As of December 31, 2020 333,180 126,763 37.9 (Reference) Shareholders’ equity: September 30, 2021: ¥ 151,583 million December 31, 2020: ¥ 126,221 million 2. Dividends Cash dividend per share (Record date) End of 1st quarter End of 2nd quarter End of 3rd quarter End of year Annual Yen Yen Yen Yen Yen FY ended December 31, 2020 – 0.00 – 24.00 24.00 FY ending December 31, 2021 – 12.00 – FY ending December 31, 2021 (Projected) 12.00 24.00 (Note) Changes in projected dividends: No
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Summary of the Consolidated Report for the Fiscal Year ...
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Summary of Consolidated Financial Statements
For the Third Quarter Ended September 30, 2021
(Japan GAAP)
November 5, 2021
Name of the Company: ASICS Corporation
Listing Exchanges: Tokyo
Code No.: 7936
URL: https://corp.asics.com/en/
President and COO, Representative Director: Yasuhito Hirota
Date of filing Securities Report by quarter: November 8, 2021
Date of scheduled payment of dividends: –
Quarterly Results Supplemental Materials: Yes
Quarterly Results Presentation Meeting: Yes (Conference call for institutional investors, analysts and press in Japan)
(Amounts less than one million yen are truncated)
1. Consolidated results for the third quarter ended September 30, 2021 (January 1, 2021 – September 30, 2021)
(1) Consolidated business results (Accumulated)
(The percentages indicate the rates of increase or decrease compared with the corresponding period of the previous fiscal year)
Net sales Operating income Ordinary income Profit attributable to
Total accumulated other comprehensive income 2,179 (10,280)
Stock acquisition rights 313 398
Non-controlling interests 126 143
Total net assets 152,022 126,763
Total liabilities and net assets ¥ 347,505 ¥ 333,180
Consolidated Income Statement
ASICS Corporation and Consolidated Subsidiaries
The third quarter ended September 30, 2021 and 2020
Net sales ¥ 322,207 ¥ 248,206
Cost of sales 160,931 132,097
Gross profit 161,276 116,108
Selling, general and administrative expenses *1 125,490 112,829
Operating income 35,785 3,279
Other income (expenses):
Interest and dividend income 352 429
Interest expense (1,248) (1,185)
Exchange gain (loss), net 177 (2,359)
Related expense of restricted stock remuneration (179) (84)
Gain on sales of investments in securities, net 35 68
Loss on sales or disposal of property, plant and equipment and other, net (137) (215)
Loss on valuation of investments in securities (27) (36)
Loss on impairment of property, plant and equipment (34) (99)
Extra retirement payments *2 (64) (624)
Loss on temporary closing of stores *3 (6,134) (2,410)
Loss on the cancellation of lease contracts (164) (200) Subsidy income 595 316
Other,net 198 (136)
(6,631) (6,537)
Profit (loss) before income taxes 29,154 (3,257)
Income taxes:
Current 10,112 4,168
Refunded *4 - (4,022)
10,112 147
Profit (loss) 19,041 (3,404)
Profit (loss) attributable to:
Non-controlling interests (31) 3
Owners of parent ¥ 19,073 ¥ (3,408)
The Third Quarter
Ended September 30,
2021
The Third Quarter
Ended September 30,
2020
(2) Consolidated Income Statement and Statement of Comprehensive Income
Millions of yen
Consolidated Statement of Comprehensive Income
ASICS Corporation and Consolidated Subsidiaries
The third quarter ended September 30, 2021 and 2020
Profit (loss) ¥ 19,041 ¥ (3,404)
Other comprehensive income (loss) :
Unrealized holding gain (loss) on securities 722 (989)
Unrealized deferred gain (loss) on hedges 6,396 (2,607)
Translation adjustments 5,326 (1,740)
Retirement benefits liability adjustments 29 40
Total other comprehensive income (loss), net 12,474 (5,296)
Comprehensive income (loss) ¥ 31,516 ¥ (8,701)
Comprehensive income (loss) attributable to:
Owners of parent ¥ 31,533 ¥ (8,704)
Non-controlling interests (16) 2
The Third Quarter Ended
September 30, 2021
The Third Quarter Ended
September 30, 2020
Millions of yen
(3)Notes for Consolidated Financial Statements
(Consolidated Balance Sheet)
The Company has an overdraft agreement with the bank to finance working capital efficiently. The balance of unused loan commitments as of September 30, 2021 under this agreement is as follows.
Overdraft maximum amount ¥204,500 ¥194,500
Balance of used loans - 5,000 Unused balance ¥204,500 ¥189,500
(Consolidated Income Statement)
*1 The material expenses in Selling, General and Administrative expenses are as follows:
The Company has received subsidies related to COVID-19, which are directly deducted from selling, general and administrative expenses in the amount of ¥300 million and ¥816 million for the 3rd quarter ended September 30, 2021 and 2020 respectively.
Packing and transportation ¥12,733 ¥10,958
Advertising 20,786 20,149
Commission fee 19,080 14,931
Provision for bad debt (20) 1,008
Salaries and wages 30,666 26,815
Provision for bonus 1,959 1,062
Retirement benefit 789 783
Rent 8,743 7,713
Depreciation and amortization 9,561 9,167
*2 Extra retirement payments
2020 (from January 1 to September 30, 2020)
This is a special severance payment associated with the rationalization of management of European subsidiaries.
2021 (from January 1 to September 30, 2021)
This is a special severance payment associated with the rationalization of management of European subsidiaries.
*3 Loss on temporary closing of stores
2020 (from January 1 to September 30, 2020)
We have been temporarily closing some own retail stores in Japan, North America, Europe, etc., due to requests of governments and local governments regarding the infection (COVID-19), and as a measure
against the spread of infections. Fixed costs (personnel expenses, depreciation and amortization, etc.) of own retail stores incurred during the closure period are recorded in extraordinary losses as losses resulting
from temporary store closures.
The Company has received subsidy related to COVID-19 and deducted ¥412 million directly from the extraordinary losses described above.
2021 (from January 1 to September 30, 2021)
Due to the COVID-19, part of the stores originally planned could not be opened. As a result, fixed costs (personnel expenses, depreciation and amortization, etc.) of own retail stores incurred during the closure period
and loss on furniture and fixtures and inventories that cannot be transferred to other stores were recorded as loss on temporary closing of stores in extraordinary losses.
The Company has received subsidy related to COVID-19 and deducted ¥190 million directly from the extraordinary losses described above.
*4 Refund of income taxes
2020 (from January 1 to September 30, 2020)
This is the amount of tax refunds recorded by U.S. subsidiaries based on the CARES Act established in the U.S.
2021 (from January 1 to September 30, 2021)
Not applicable.
(Segment Information)
1) Outline of Reportable Segments
2) Net Sales and Segment Income/Loss of Reportable Segment
2021 (from January 1 to September 30, 2021) Japan
North
America Europe
Greater
China Oceania
SouthEast and
South Asia Others Total Adjustments ConsolidatedNet sales:
Vs 3rd quarter ended September 30, 2020 (%) (Yen) - - +167.6 +115.6 +52.2 +477.6 +435.9
5.1 4.1 16.0 22.4 15.2 9.4 7.0
Millions of yen
As of September 30, 2021 As of December 31, 2020
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Reportable segments of the Group are components for which discrete financial information is available and whose operating results are regularly reviewed by the Executive Meeting of the Company to make decisions on
the allocation of management resources and assess performance.
The Company is mainly engaged in business management activities and product development as the global headquarters.
The Group is primarily engaged in the manufacture and sales of sporting goods. ASICS Japan Corporation and other subsidiaries in Japan are responsible for Japan. ASICS America Corporation is responsible for North
America; ASICS Europe B.V. for Europe, Middle East, and Africa; ASICS China Trading Co., Ltd. for Greater China; ASICS Oceania PTY., Ltd. for Oceania; and ASICS Asia PTE., Ltd. for SouthEast and South