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.