Asics SWOT & PESTLE Analysis

Strength

1. Driving innovation through ASICS Institute of Sport Science: The ASICS Institute of Sport Science (ISS) was established in 1985, to develop products based on biomechanics and human-centric science, supplementing the instincts and experience of craftsmen. Its goal was to create unique, innovative products with high added value. That strong emphasis on technology lives on in the Company to this day. The institute has developed many path-breaking innovations, some of which are also a first in the industry. Asics in 2020 has developed a new smart shoe which can monitor how you run and give feedback on how to improve one’s performance in real time. Asics also revealed its Evoride shoes in 2020 which are built around Asics' revolutionary Guidesole technology, engineered to minimize movement in the lower leg, helping runners save energy and run more efficiently. This technology is one of the most important innovations in Asics' 70-year history and has created a completely new category of running shoes for the industry.

2. Enduring relationships with all stakeholders: Asics strength as a company lies in the enduring relationships it has built with all stakeholders —shareholders, customers, business partners and employees — and the trust they have in its technology, products and brands, cultivated over many years in business fields centered on sports. Founder Kihachiro Onitsuka engaged in product development with the belief that consumers would appreciate products with superior performance. He initially focused on basketball shoes — a product with the most sophisticated and challenging technologies at the time. He rose to the challenge, helping ASICS accumulate a wealth of technology and experience along the way.

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Weakness

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Opportunity

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Threat

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Political

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Economic

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Social

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Technological

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Legal

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Environmental

1. Continuous materiality program aligned with international standards: Product safety and quality is one of the top priorities of product manufacturing organizations. Over the past year, consumers have shown an increasing interest in material and product traceability. Climate change, water and resource scarcity are also areas of growing concern for many of the stakeholders. Asics continuous materiality program has two main elements: our materiality matrix, which helps us prioritize sustainability issues, and our value chain analysis, which shows us where material issues occur in our value chain. Together, these elements help us focus on the issues and areas that matter most to our stakeholders and our business.

2. Addressing climate change through science-based targets: Climate change is a serious threat to the environment and economies around the world. Rising global temperatures are affecting weather patterns and causing extreme weather conditions, leading to food shortages and water scarcity; they also affect our ability to move and play sports, as well as the places where we do this. Climate change is also a direct threat to our business, impacting production sites and logistical routes in our supply chain. ASICS cares for the resources that enable current and future generations to MOVE – in the design of its products, materials and manufacturing processes, and in the way it manage its offices, distribution centers and retail locations. The materials it uses to make its products can also contribute to our overall emissions. For example, polyester and polyurethane are derived from fossil fuels, and release CO2 when the products containing carbon are incinerated at the end of their life. We’re committed to reducing our carbon footprint by setting science-based carbon reduction targets in line with the goal of the Paris Agreement to keep global temperature increases below 2ºC. Its new targets were set in 2018, and officially approved by the Science Based Targets initiative (SBTi) in the same year.

3. Promoting circular economy - collecting and recycling used products: Asics is following a circular economic model in which the focus remains on resource reuse and recycling rather than disposal. Asics has entered into a number of alliances in order to fulfill this end of reclaiming and reusing clothing and shoes of all brands. The ASICS REBORN WEAR PROJECT (ARWPJ) was launched in Japan in 2019 as a tribute to the Japan Team for Olympic and Paralympic Games, Tokyo 2020. The range was presented as the official Tokyo 2020 Japan Team sportswear. It was prepared from sportswear collected from people across the country associated with rich sporting memories which were breathed with new life. Asics collected the donated items and then extracted polyester through a circular production and development process. The extracts were then used to manufacture the resin, thread and fabric used in the creation of new sportswear and shoes. Asics hopes to continue its journey of reducing environmental impacts and assisting towards the success of Tokyo 2020.