TOKYO (dpa-AFX) - ASICS Corporation (ASCCY) said Wednesday that it will transfer its Onitsuka Tiger business to OT Group Corporation, a subsidiary of the company, through an absorption-type company split effective January 1, 2027, to support the continued growth of the luxury lifestyle brand.
The Japanese sportswear maker said the move will give the Onitsuka Tiger business greater independence, allowing quicker decision-making and helping the brand compete more effectively.
The business being transferred had generated revenue of 6.663 billion yen in fiscal 2025, primarily consisting of royalties and other income received from regional operating subsidiaries.
As part of the transaction, OT Group will allot 400 newly-issued shares to ASICS. The transfer will include assets valued at 2.710 billion yen and liabilities of 248 million yen related to the Onitsuka Tiger business.
ASICS said the restructuring will have a minimal impact on its consolidated financial results because it is an internal reorganization involving a wholly owned subsidiary.
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