Asics Shares Surge as Raised Guidance Predicts Record Profit

Asics Corp. shares jumped as much as 18% after raising its full-year forecast, predicting record earnings and bringing forward mid-term targets by a year.

The Onitsuka Tiger-owner now expects operating profit to reach ¥136 billion ($919 million) this year, according to a Wednesday statement. That’s ahead of analysts estimates, and up from a prior forecast of ¥120 billion. The company had previously said its operating profit wouldn’t hit ¥130 billion until 2026.

Asics said earnings are seen rising faster than previously expected due to strong performance in its running, sports style and Onitsuka Tiger categories and reduced uncertainty ...