Asics said its board approved a share buyback of up to 20 million shares, capped at ¥70 billion, or approximately $456.2 million, equal to 2.82% of shares outstanding. The program will run from September 10 through March 31, 2027, with purchases conducted through market transactions on the Tokyo Stock Exchange. Separately, Asics will cancel 25 million treasury shares on September 30, reducing shares outstanding and supporting earnings per share. The Japanese sportswear maker has been reporting record profits and raised its earnings forecast for the fiscal year ending March 2026 in August. Its shares surged after the announcement, rising ¥104 to ¥4,153 at 1:34 p.m. on September 9. The buyback is part of a broader capital policy designed to improve supply-demand conditions and raise ROE (return on equity) by reducing shares in circulation. Asics has benefited from global demand for high-performance sporting goods, particularly running shoes. The repurchased shares are separate from those scheduled for cancellation, and the company has not said how it will ultimately handle them, leaving open the possibility of further cancellations. The announcement came as Japanese companies with strong earnings continue to direct surplus capital toward shareholder returns amid pressure to improve ROE and PBR (price-to-book ratio). The market interpreted Asics' action as an indication that management considers the current share price undervalued.