TOKYO : Japan’s Asics said on Wednesday it will spin off its high-end Onitsuka Tiger business into a separate wholly owned subsidiary, aiming to accelerate decision-making at a brand that has become a major profit driver amid strong tourism demand and growing global appetite for retro-style sneakers.
Under the plan, the nearly 80-year-old Onitsuka Tiger business will be transferred to OT Group through a company split effective January 1, 2027. Asics Chief Executive Yasuhito Hirota said the company has no plans to list OT Group separately.
The move comes as Onitsuka Tiger continues to outperform, helping Asics deliver four consecutive years of record profits. The brand’s resurgence has been driven by increasing demand for vintage-inspired sports footwear and strong sales to international tourists, particularly across Asia.
Investor enthusiasm has mirrored the brand’s success. Shares of Asics, which competes with global sportswear giants Nike, Adidas and Puma, have risen roughly sevenfold over the past five years, lifting the company’s market value to about $20 billion.
“As organisations grow too large, decision-making often slows as approvals become more layered and time-consuming,” said Tatsunori Kawai. “A spin-off is an ideal move for fast-growing businesses that need greater agility.”
Asics will spin off its high-end Onitsuka Tiger line into a wholly owned subsidiary, OT Group, effective January 1, 2027, to speed up decision-making as the retro sneaker brand drives record profits. The nearly 80-year-old label has surged on tourism demand and global appetite for vintage-style footwear, helping Asics’ market value climb to about $20 billion.