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Asics sets up subsidiary

By FashionUnited

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Asics Corp, the Japanese sporting goods producer, is to set up a sportswear and production subsidiary in October, and will be closing its women's sportswear subsidiary Asics Almos Inc.

Asics Ubik Creation, the new company, will produce sportswear, outdoor clothing and related accessories, starting next month. The company will be based in Suita in western Japan. Asics Ubik Creation has a registered capital of 50 million Japanese yen (£250,000), and is expected to generate sales of 1.5 billion yen in the year ending March 2006.

Asics, which is based in Kobe in western Japan, has 15 Japanese affiliates and 15 abroad, including the US, Europe, Australia and China.

Asics