Asics : The Fiscal First Quarter Ended June 30, 2014

Name of the Company: ASICS Corporation Listing Exchanges: Tokyo

August 7, 2014

Code No.: 7936 Head Office: Hyogo Prefecture

(URL http://www.asics.com/en)

President and CEO, Representative Director: Motoi Oyama

Date of filing Securities Report by quarter: August 8, 2014

Date of scheduled payment of dividends: - Quarterly Results Supplemental Materials: Yes Quarterly Results Presentation Meeting: None

(Amounts less than one million yen are truncated.)

1. Consolidated results for the first quarter ended June 30, 2014 (April 1, 2014- June 30, 2014) (1) Consolidated business results (Accumulated)

(The percentages indicate the rates of increase or decrease compared with the previous fiscal year.)

(Note) Comprehensive income: 1st quarter ended June 30, 2014: ¥11,358 million ( - %)

1st quarter ended June 30, 2013: ¥15,015 million (62.2%)

(Note) The fiscal year ending December 31, 2014 is a transitional period for the change in the fiscal year end. Therefore, the first quarter ended June 30, 2014 has irregular settlement periods whereby the consolidated period is three months (April 1, 2014 to June

30, 2014) for the Company and those consolidated subsidiaries whose fiscal year end was on March 31, and six months (January 1,

2014 to June 30, 2014) for consolidated subsidiaries whose fiscal year end was on December 31. As a result, the rates of increase or

decrease compared with the previous fiscal year are not disclosed.

(2) Consolidated financial position

(Reference) Shareholders' equity: June 30, 2014: ¥ 166,717 million March 31, 2014: ¥158,443 million

2. Dividends

(Reference)Changes in projected dividends: None

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3. Forecast of consolidated business results for the fiscal year ending December 31, 2014 (April 1, 2014 - December 31, 2014)

(The full-year percentages indicate the rates of increase or decrease compared with the previous fiscal year;

the mid-term percentages are comparisons with the interim period of the previous fiscal year)

(Reference) Changes in forecast of consolidated business results: None

The fiscal year ending December 31, 2014 is a transitional period for the change in the fiscal year end. Therefore, the full-year forecast is disclosed for the period of consolidation of nine months (April 1, 2014 to December 31, 2014) for the Company and those consolidated subsidiaries whose fiscal year end was on March 31, and the consolidated period of twelve months (January 1, 2014 to December 31, 2014), as before, for consolidated subsidiaries whose fiscal year end was on December 31. Moreover the fiscal first half forecast is for the consolidated period of six months (April 1, 2014 to September 30, 2014) for the Company and those consolidated subsidiaries whose fiscal year end was on March 31, and for the consolidated period of nine months (January 1, 2014 to September 30, 2014) for consolidated subsidiaries whose fiscal year end was on December 31. As a result, the full-year percentages and the mid-term percentages are not disclosed.

※ Notes

(1) Changes in significant subsidiaries during the fiscal year (changes in specified subsidiaries that caused changes in the scope of consolidation): None

(2) Adopting accounting treatment simplified or specialized for quarterly consolidation: Yes

(3) Changes in accounting policy, changes in accounting estimates, and changes in presentation due to revisions

Changes in accounting policy to conform to revisions in accounting standards and others: Adopted: Yes

Changes in accounting policy adopted otherwise than in: None

Changes in accounting estimates: None

Changes in presentation due to revisions: None

(4) Number of shares (of common stock) issued and outstanding

* Implementation status of quarterly review procedures

This quarterly financial results report is not subject to quarterly review procedures by independent auditors under Japan's Financial Instruments and Exchange Law. At the time of release of this report, such quarterly review procedures under the Financial Instruments and Exchange Law have not been completed.

* Explanation of appropriate use of business performance forecasts; other special items

(Notes to the description about future, other)

The performance forecasts above are estimated based on information available as of the date hereof. This may cause actual results to differ from stated projections due to changing business conditions or other factors.

(How to access supplemental materials on quarterly business results)

We plan to post the supplemental materials on quarterly business results on Company's website ( http://www.asics.com/en) on

August 7, 2014.

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In the first quarter ended June 30, 2014, business was steady in the sporting goods industry on the back of a high level of interest in sports owing to rising health consciousness, as well as a running boom. In the U. S., particularly, where sports are deeply rooted in people's lifestyle, the sporting goods industry showed growth in accompaniment with the recovery in economic activity.
Under these conditions, the ASICS Group continued its efforts to reinforce and expand its business on a global scale based on the Five-Year Strategic Plan, "ASICS Growth Plan (AGP) 2015".
In the running business, the ASICS Group strove to expand the business further as the core business such by launching various high-function running shoes, GEL-NIMBUS 16 and GEL-CUMULUS 16, onto the market as well as supporting marathon events held in different parts of the world, including Paris and Stockholm, and holding a trail running event.
In the athletic sports business, the ASICS Group concentrated on activities to heighten the value of the ASICS brand such by launching replica jerseys of both the South African and Australian national rugby teams.
In the Onitsuka Tiger business, the ASICS Group strove to heighten the value of Onitsuka Tiger as an innovative and sophisticated brand such by launching shoes designed in collaboration with a famous designer as the latest works of the NIPPON MADE series.
On the sales front, in addition to concentrating on the expansion of directly managed sales venues by opening 16 stores, including ASICS STORE MELBOURNE(Austraria), ASICS STORE TSUKUBA(Japan) and Onitsuka Tiger Melbourne(Austraria), the ASICS Group worked on expanding sales by promoting expansion of E-commerce running on a shared global IT platform and other means.
In the apparel business, the ASICS Group worked on expanding running apparel business as well as strengthening the function of the global sourcing and development such by centralizing the production control function of each country's apparel products in ASICS HongKong Apparel Limited in Hong Kong in order to expand sales and boost profitability at the global level.
In the new business, the ASICS Group started a "designated manager" business that operates, maintains and manages public sporting facilities at nine locations in Kobe City.
To strengthen the development and hiring of top professional talent on global and regional bases and to ensure the optimal placement of global talent, the ASICS Group has introduced a new human resources system that gives priority to fast-track talent development and puts an end to seniority based appointments. Aiming to establish a corporate culture and system that allows diverse talent to perform to their maximum ability in order to allow the company to continue to flourish, the ASICS Group promoted diversity under the slogan "One Team" -- Stronger through Diversity.
In other activities, as part of a continuous support program for the Great Eastern Japan Earthquake "A Bright Tomorrow
Through Sport", the ASICS Group supported the Tohoku Food Marathon & Festival 2014.
In the first quarter ended June 30, 2014, consolidated net sales were ¥161,613 million. Domestic net sales were ¥22,937 million, overseas sales were ¥138,675 million, gross profit was ¥73,238 million, operating income was ¥20,123 million, ordinary income was ¥20,649 million and net income was ¥14,432 million.
Business results by reportable segment were as follows.
The fiscal year ending December 31, 2014 is a transitional period for the change in the fiscal year end. Therefore, the current fiscal first quarter consolidated period has irregular settlement periods whereby the period of consolidation is three months (April 1, 2014 to June 30, 2014) for the Company and those consolidated subsidiaries whose fiscal year end was on March 31

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in the previous fiscal year, and six months (January 1, 2014 to June 30, 2014) for consolidated subsidiaries whose fiscal year end was on December 31 in the previous fiscal year. As a result, a year-on-year ratio is not disclosed for segments excluding Japan area.

① Japan Area

Sales decreased 1.5% to ¥27,223 million, mainly owing to a decline in shoe sales to overseas sales subsidiaries. Segment income decreased 60.5% to ¥387 million, primarily due to an increase in advertising expenses and an increase in selling, general and administrative expenses due to new openings of directly managed stores.

② America Area

Sales were ¥57,524 million and segment income was ¥6,349 million.

③ Europe Area

Sales were ¥52,364 million and segment income was ¥5,230 million.

④ Oceania /SouthEast and South Asia Area

Sales were ¥8,830 million and segment income was ¥1,659 million.

⑤ East Asia Area

Sales were ¥15,185 million and segment income was ¥1,512 million.

⑥ Other business

Sales were ¥4,942 million and segment loss was ¥632 million.

As for consolidated financial position as of June 30, 2014, total assets decreased 0.4% from the end of the previous fiscal year to ¥316,260 million, total liabilities decreased 6.1% from the end of the previous fiscal year to ¥148,295 million and net assets increased 5.3% from the end of the previous fiscal year to ¥167,964 million.
Current assets increased 1.0 % to ¥242,776 million mainly due to a decrease in cash and deposits and increases in notes and accounts receivable-trade and inventories.
Non-current assets decreased 4.8% to ¥73,483 million, which mainly reflected decreases in intangible assets including goodwill and brand as well as deferred tax assets.
Current liabilities decreased 7.9% to ¥74,766 million mainly due to decreases in notes and accounts payable-trade and accrued expenses.
Non-current liabilities decreased 4.2% to ¥73,529 million mainly due to a decrease in other liabilities attributable to a decrease in long-term derivatives liabilities as well as a decrease in deferred tax liabilities.
Shareholders' equity rose 7.7% to ¥160,577 million due to an increase in retained earnings.
Accumulated other comprehensive income decreased ¥3,198 million to ¥6,139 million mainly due to a decrease in translation adjustments.
Minority interests increased 10.6% to ¥1,227 million.

There is no change in forecast for consolidated business results announced on May 8, 2014.

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ASICS Corporation and Consolidated Subsidiaries

From April 1 to June 30, 2014 and 2013

Millions of yen

2013 Japan area America area Europe area

Net sales:

Oceania

/SouthEast and

South Asia area East Asia area Other business Total Adjustments Consolidated

Sales to customers ¥22,065 ¥21,872 ¥21,444 ¥3,894 ¥4,674 ¥2,554 ¥76,506 ¥57 ¥76,563

Total sales 27,644 21,872 21,444 3,915 4,674 2,554 82,106 (5,542) 76,563

Operating income (loss) ¥980 ¥2,658 ¥3,338 ¥1,002 ¥223 ¥(176) ¥8,027 ¥497 ¥8,524

On January 1, 2014, ASICS Asia PTE. LTD. changed its business form from a marketing company to a sales company. As a result of this change, the name of the reportable segment in which this company belonged was changed from the "Oceania Area"segment to the "Oceania/SouthEast and South Asia Area" segment. In line with this, the operating results of ASICS Asia PTE. LTD., which were included in adjustments, were transferred to the "Oceania/SouthEast and South Asia Area" segment. The disclosed segment information for the first quarter ended June 30, 2013 is presented based on the above-mentioned reportable segment structure.

1st quarter ended June 30, 2013 91.06 120.16 94.38 0.0837 14.13

Increase or (Decrease) ¥11.60 ¥20.40 ¥(0.67) ¥0.0144 ¥1.50

Ratio (%) +12.7 +17.0 (0.7) +17.2 +10.6

Net Sales (Currency Neutral) - - - - - - Vs 1st quarter ended June 30, 2013 (%) （Yen) (1.5) - - - - -

Operating Income

Vs 1st quarter ended June 30, 2013 (%) Operating Income Ratio (%)

(Currency Neutral) - - - - - -

（Yen) (60.5) - - - - -

1.4 11.0 10.0 18.8 10.0 (12.8)

The fiscal year ending December 31, 2014 is a transitional period for the change in the fiscal year end. Therefore, the first quarter ended June 30, 2014 has irregular settlement periods whereby the period of consolidation is three months (April 1, 2014 to June 30, 2014) for the Company and those consolidated subsidiaries whose fiscal year end was on March 31, and six months (January 1, 2014 to June 30, 2014) for consolidated subsidiaries whose fiscal year end was on December 31. As a result, the rates of increase or decrease of net sales and operating income of segments excluding Japan area is not disclosed.

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