• Q2 net income plummets
  • Sales slide 10.8%
  • Smaller decrease forecasted for FY

Japanese sporting goods firm Asics has posted a 65.3% reduction in net income for the second quarter ended 30 September.

The Tokyo-listed running shoe specialist today (9 November) reported Q2 net income of JPY2.62bn (US$29.1m), compared to JPY7.54bn during the prior year period.

Asics reported second quarter net sales of JPY110.77bn during the second quarter, a decrease of 10.8% compared to the same quarter in 2008.

For the year ending 31 March 2010, Asics forecasted a 38.9% reduction in net income, to JPY8bn. Full-year sales are expected to decrease 7% to JPY225bn, the company added.

Click here to view Asics' full second quarter earnings statement.