INDEX / DIRECTORY / ASICS / ECONOMIC

ASICS ECONOMIC

ECONOMIC AUDIT UPDATED 2026-10-07
Economic Score 2.90 /10 D ASICS - Complicity Index 292
Economic 2.90

Evidence-only forensic audit. Scoring happens downstream - see the main dossier for the composite assessment.

Forensic audits like this are reader-funded - no sponsors, no ads. Support OpenIntel →

Request ID: c949dcfa-fcac-4db0-b2e6-23f2ec599e30 Target: ASICS Corporation (Japan), with controlled entities attributed only where supported Research cutoff: 7 October 2026

This audit records verifiable economic, commercial, supply-chain and investment links and distinguishes ASICS-controlled entities from independent distributors, retailers, service providers, investees, athletes and customers.

Authoritative-source checks and entity map

ASICS Corporation states that it was founded in Japan on 1 September 1949 and incorporated on 21 July 1977 ([pre-2020] historical facts), is listed on the Tokyo Stock Exchange Prime Market, had 9,455 consolidated employees and ¥810,916 million consolidated annual sales for 2025, and is headquartered in Kobe.1 Its current location directory lists ASICS Japan Corp., ASICS Trading Co., Ltd. and ASICS Ventures Corp. in Japan and Middle East subsidiaries in the UAE and Saudi Arabia, but no ASICS-owned Israeli subsidiary or office.2

Current representative directors are Chairman/CEO Yasuhito Hirota and President/COO Mitsuyuki Tominaga; the current board and executive roster is identified on ASICS’s leadership page.3 Targeted searches of the named current principals did not identify public evidence of material personal/family-office investments in Israeli companies, Israeli state financing, settlement enterprises or Israeli defence companies. No public evidence identified.3

As of 30 June 2026, ASICS’s principal-shareholder table lists The Master Trust Bank of Japan trust account at 16.13% and Custody Bank of Japan trust account at 8.57%, followed by other institutional/custodial holders; no Israeli holder is named in the published principal-shareholder table.4 Custodial and omnibus entries do not establish ultimate beneficial ownership.4 no public evidence identified of Israeli beneficial control of ASICS.4

On 10 June 2026 ASICS announced that the Onitsuka Tiger business is scheduled to transfer on 1 January 2027 to OT GROUP Corporation, a wholly owned ASICS subsidiary, with regional Onitsuka Tiger operations reorganized under it.5 The scheduled reorganization had not taken effect by the 7 October 2026 cutoff.5

Exact-name searches of the reviewed A/HRC/59/23 report and OHCHR settlement-business material did not identify ASICS by name.6, 7, 8 The 2025 OHCHR update lists 158 enterprises after assessing 215, while the 2026 HRC presentation stated that additional submitted enterprises remained unassessed; the 2026 source is an automatic UN transcript and not an official record.7, 9 No verified ASICS-specific OHCHR listing was identified; this is not treated as proof that every ASICS-related entity has been assessed.6, 7, 9

Israeli-Nexus Floor factors

Founded in Israel: No. ASICS reports a Japanese founding in 1949 and incorporation in 1977.1 These are [pre-2020] historical facts older than five years.

Headquarters/principal management in Israel: No. ASICS lists its head office and Institute of Sport Science in Kobe, Japan, and no Israeli ASICS office appears in the current location directory.1, 2

Israeli tax residency / PTE status: no public evidence identified. ASICS’s Israel-specific privacy page calls ASICS Japan Corporation the “Database Owner” for Israeli users under Israeli privacy law; that role does not establish Israeli tax residence or Preferred Technology Enterprise status.10

Israeli beneficial ownership/control: no public evidence identified in the current principal-shareholder disclosure.4

Acquired Israeli operating companies

No public evidence identified of ASICS Corporation or a controlled group company acquiring or holding a controlling stake in an Israeli operating company.2, 11, 12 On 14 May 2020, ASICS Ventures announced an investment in Seevix Material Sciences Ltd., an Israeli startup headquartered at Hadassah Ein Kerem Campus in Jerusalem, and said Seevix and the ASICS Institute of Sport Science would jointly develop sporting goods using SVX material.11 This 2020 evidence is older than five years and is tagged [pre-2020] under the requested age-label convention; the event itself occurred in 2020.11 The announcement disclosed no price, ownership percentage or control rights.11 ASICS Ventures’ current portfolio page, which describes more than 20 startup investments in 10 countries as of June 2025, does not display Seevix; that omission does not establish divestment, so current stake status remains unresolved.12

Supply Chain & Sourcing Relationships

Direct supplier relationships

ASICS says more than 150 Tier 1 suppliers in 22 countries provide production capacity and that its public factory list is updated annually and covers key Tier 1 and Tier 2 suppliers producing ASICS and Onitsuka Tiger footwear, apparel, accessories and equipment.13 ASICS also says pre-procurement screening considers production country, supplier profile and audit performance, with country/region risk assessments before manufacturing relationships begin.14 Current status: ongoing in 2026.13, 14

No public evidence identified of direct ASICS commercial relationships with Mehadrin, Hadiklaim, Galilee Export or Agrexco successors.13, 14, 15 The reviewed ASICS sourcing disclosures concern sporting goods and priority raw materials such as cotton and leather, not fresh-produce procurement.15

Importer of record structure

Original’s currently states that it is the official importer of ASICS Israel.16 Separate Original’s customer-club terms state that I.A.IL Ltd. distributes ASICS and other named brands in Israel.17 The summer-2026 ASICS promotion terms identify I.A.IL Ltd., company number 51-236842-4, as the company conducting the promotion.18

These first-party distributor materials establish a current third-party Israeli distribution channel, but no reviewed customs declaration or ASICS distribution contract established the importer of record for every shipment or the contract’s exclusivity/equity terms.16, 18, 17 no public evidence identified that ASICS uses a wholly owned Israeli subsidiary or joint venture as importer of record.2

Seasonal sourcing patterns

No public evidence identified of recurring seasonal procurement by ASICS from Israeli suppliers, including December-April agricultural sourcing.13, 14, 15

Third-party and indirect sourcing/distribution

Current evidence supports third-party distribution of ASICS products in Israel through I.A.IL/Original’s.16, 17 Original’s About page says its mixed-brand network has about 30 stores nationwide, including three ASICS branches; this is Original’s network and is not evidence of ASICS ownership.19 The current Original’s directory separately lists ASICS-branded stores in Haifa, TLV Mall and Tel Aviv Port and an ASICS outlet in Netanya.20 No shipment-level public record was retained in this repaired audit.

Product Origin, Labeling & Regulatory Compliance

Settlement-origin products

No public evidence identified that ASICS goods were confirmed by a regulator or the reviewed OHCHR material to originate from a West Bank, East Jerusalem or Golan Heights settlement.13, 14, 6, 7 Targeted searches of current distributor/store material did not identify a dedicated ASICS store in a named settlement; the available public pages do not establish inventory at every independent reseller.20, 6, 7

Labeling compliance

No public evidence identified of a DEFRA, Israeli customs or other regulatory enforcement action against ASICS concerning country-of-origin labeling of settlement-produced goods.14, 15, 6 ASICS describes general supplier-risk and raw-material traceability controls but no Israel/occupied-territory-specific labeling rule was identified.14, 15

Corporate labeling/sourcing policy for occupied territories

No public evidence identified of an ASICS corporate policy specifically governing sourcing from or labeling goods made in Israeli settlements or other occupied territories.13, 14, 15

Investment, Capital & Financial Exposure

Foreign direct investment

The identified direct Israeli capital link is the 14 May 2020 [pre-2020] ASICS Ventures investment in Seevix Material Sciences Ltd. in Jerusalem.11 ASICS described it as an investment plus joint sporting-goods development and did not disclose price, ownership percentage or control rights.11 no public evidence identified of an ASICS-owned factory, logistics hub, data centre or real-estate holding in Israel or the occupied territories in the current official location directory.2

R&D and innovation centres

The Seevix announcement documents joint development with the Kobe-based ASICS Institute of Sport Science.1, 11 no public evidence identified of ASICS operating its own R&D centre in Israel.2, 11 Current ownership and current project status are unresolved; Seevix is not displayed on the current ASICS Ventures portfolio list shown as of June 2025.12

Parent & beneficial ownership flows

ASICS is Japan-headquartered and Tokyo-listed.1 Its 30 June 2026 principal-shareholder table does not name an Israeli controlling holder.4 I.A.IL is identified by its own current terms as the Israeli distributor of ASICS products and by the summer-2026 promotion terms as the promotion operator, but ASICS’s location directory does not list I.A.IL as a group subsidiary.2, 18, 17 no public evidence identified of ASICS equity ownership of I.A.IL.2, 18, 17

Portfolio & fund exposure

No public evidence identified that ASICS Corporation publicly discloses holdings in Israeli sovereign bonds or Israel-focused funds.4, 21, 22 The identified Israeli venture investment is Seevix in 2020.11 No current ownership percentage was identified.11, 12

Financing the State

ASICS is a sporting-goods manufacturer and seller.1 no public evidence identified of ASICS underwriting Israeli sovereign/war bonds, selling Israel Bonds, insuring Israeli state/military/settlement operations, or directly lending to Israeli defence primes or OHCHR-listed companies.1, 4, 6, 7

Controlling principals and group attribution

No public evidence identified from targeted searches of the current ASICS directors/executives of material personal or family-office investments in Israeli companies.3 ASICS Ventures is a controlled group company and its Seevix investment is attributable to the ASICS group.2, 11 ASICS Trading is also a current Japanese subsidiary; no public evidence identified of a separate Israeli subsidiary or Israeli investment by ASICS Trading.2

Operational Presence & Market Activity

Physical footprint

ASICS’s current corporate directory does not list a company-owned Israeli office or subsidiary.2 The evidenced retail footprint is through the local distributor network. Original’s current directory lists ASICS-branded locations in Haifa, TLV Mall and Tel Aviv Port plus an ASICS outlet in Netanya.20 TLV Fashion Mall independently lists an ASICS store.23 Original’s About page says its wider mixed-brand network has about 30 stores, including three ASICS branches; these pages do not establish ASICS Corporation ownership of the network.19, 20

Employment & tax contribution

No public evidence identified of an ASICS-owned Israeli workforce count or ASICS Israeli corporate-income-tax contribution.1, 2, 22 ASICS Japan Corporation’s Israel-specific privacy page identifies itself as database owner for Israeli users, which is a privacy-law role rather than evidence of an Israeli employing or tax-resident entity.10

Market positioning

ASICS maintains a current FrontRunner Team Israel page, while Original’s maintains current ASICS importer, retail and promotional pages.16, 20, 24 ASICS’s FY2026 financial data report sales by broad regions including EMEA and “Others” rather than a separate Israel line; no Israel-specific revenue figure was identified.21, 22, 25

Digital data and ecommerce services

ASICS’s Israel-specific legal page says ASICS Japan Corporation processes Israeli users’ personal data and that Global-e provides/manages some online-purchase logistics, customer support, shipping and returns as an independent database owner for certain services.10 Global-E Online Ltd.’s 2026 Form 20-F states that it is incorporated in Israel and headquartered in Petah Tikva.26 This supports a current service-provider relationship with an Israeli-domiciled company, not ASICS ownership of Global-e.10, 26

State procurement / military-security boundary

A 6 January 2015 Israeli Ministry of Defense notice [pre-2020] announced a tender for professional running shoes for combat soldiers, named ASICS among seven acceptable brands, and required each bidding retailer to keep at least four listed brands in stock.27 The notice says the winning retail chain would be selected based on tender criteria and price; it does not identify ASICS as the winner, a direct Ministry contractor, or an actual supplier.27 No current continuation or award to ASICS was identified from this source.27

Constructive notice and settlement nexus

The ICJ issued its advisory opinion on the occupied Palestinian territory on 19 July 2024, and the ICC issued warrants for Benjamin Netanyahu and Yoav Gallant on 21 November 2024.28, 29 Current Israeli-market activity is evidenced after both dates by ASICS’s Israel-specific privacy/ecommerce terms and 2026 Original’s importer, store and promotion materials.10, 16, 20, 18 These facts establish continued Israeli-market commerce, not settlement-specific commerce.10, 16, 20, 18 No verified settlement-specific ASICS operation was identified in the reviewed OHCHR material or dedicated-store pages.20, 6, 7

Corporate Structure & Foundational Ties

Founding & incorporation history

ASICS reports a Japanese founding on 1 September 1949 and incorporation on 21 July 1977 after the merger of Onitsuka, GTO and JELENK.1 These are [pre-2020] historical facts older than five years. No public evidence identified that ASICS or Onitsuka Tiger was founded or originally incorporated in Israel.1, 5

Headquarters & domicile

ASICS’s current head office is in Kobe, Japan, and its official location directory lists no dual or legacy Israeli headquarters.1, 2

State & institutional linkages

No public evidence identified of Israeli state ownership in ASICS, Israeli government board appointees, or designation of ASICS as Israeli critical national infrastructure.3, 4 The 2015 Ministry of Defense tender named ASICS only as one of seven acceptable shoe brands; it does not establish a direct ASICS government contract or award.27

Structural governance features

No public evidence identified of a golden share, founder share, charter restriction or other governance mechanism tying ASICS to the Israeli state or Israeli policy objectives.3, 4

Profit Repatriation & Economic Contribution

Revenue attribution

ASICS’s current financial data report sales by broad geographic regions, including EMEA, without a separate Israel revenue line in the reviewed public tables.22, 25 no public evidence identified of Israel-specific ASICS wholesale revenue, distributor royalties, ecommerce gross merchandise value or Israel-specific operating profit.22, 25, 16, 17

Profit flows

No public evidence identified of a quantified profit-repatriation flow from Israel to ASICS Corporation or from ASICS globally into Israel.22, 25 The public evidence establishes Israeli distribution through I.A.IL/Original’s, a current ecommerce/logistics relationship with Israeli-domiciled Global-e, and the 2020 Seevix venture investment, but not target-specific margins, fees, dividends or royalties.11, 10, 26, 16, 17

Economic ecosystem role

No public evidence identified of an Israeli government or industry designation of ASICS as a critical employer, sector anchor or infrastructure provider.1, 2 Original’s describes an active mixed-brand retail network with three ASICS branches and acts as the evidenced distributor channel, but the network is not shown to be ASICS-owned.16, 19, 17

Footnotes

  1. ASICS Corporation, “Company Profile” - https://corp.asics.com/en/about_asics/practical_information ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12

  2. ASICS Corporation, “Location” - https://corp.asics.com/en/about_asics/location ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12 ↩13 ↩14

  3. ASICS Corporation, “Our Leaders” - https://corp.asics.com/en/about_asics/executives ↩ ↩2 ↩3 ↩4 ↩5

  4. ASICS Corporation, “Shareholding Structure” - https://corp.asics.com/en/investor_relations/stock_info/shareholder_structure ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9

  5. ASICS Corporation, “Notice Regarding Company Split (Simplified Absorption-Type Split) with a Consolidated Subsidiary and Decision on Subsidiary Reorganization Policy,” 10 June 2026 - https://corp.asics.com/en/press/article/2026-06-10_company-split ↩ ↩2 ↩3

  6. OHCHR, A/HRC/57/21, “Database of all business enterprises involved in certain settlement-related activities,” 2 August 2024 - https://www.un.org/unispal/document/ohchr-report-02aug24/ ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7

  7. United Nations Human Rights Council / OHCHR, A/HRC/60/19, OHCHR settlement-business database update, 26 September 2025 - https://documents.un.org/api/symbol/access?l=en&s=A%2FHRC%2F60%2F19&t=pdf ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7

  8. United Nations, A/HRC/59/23, “From economy of occupation to economy of genocide” - https://docs.un.org/A/HRC/59/23 ↩

  9. United Nations Transcripts, “31st Meeting - 63rd Session of Human Rights Council,” 29 September 2026 - https://transcripts.un.org/en/hrc/63/31 ↩ ↩2

  10. ASICS, “Local Deviations - Israel” - https://legal.asics.com/en_israel-jp/legal/local-deviations ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7

  11. ASICS Ventures, “ASICS Ventures Invests In Israeli Synthetic Spidersilk Startup, Seevix Material Sciences,” 14 May 2020 - https://corp.asics.com/en/ventures/article/2020-05-14-3 ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12

  12. ASICS Ventures, current corporate/portfolio page - https://corp.asics.com/en/ventures ↩ ↩2 ↩3 ↩4

  13. ASICS Corporation, “Our Partnership Approach” - https://corp.asics.com/en/csr/people-supply-chain/partnership ↩ ↩2 ↩3 ↩4 ↩5 ↩6

  14. ASICS Corporation, “Managing and Monitoring” - https://corp.asics.com/en/csr/people-supply-chain/managing-and-monitoring ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8

  15. ASICS Corporation, “Due Diligence” - https://corp.asics.com/en/csr/people-supply-chain/due-diligence ↩ ↩2 ↩3 ↩4 ↩5 ↩6

  16. Original’s, “ASICS” importer/brand page - https://originals.co.il/pages/asics-landing-page ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9

  17. Original’s / I.A.IL Ltd., customer-club terms - https://originals.co.il/pages/%D7%AA%D7%A7%D7%A0%D7%95%D7%9F-%D7%9E%D7%95%D7%A2%D7%93%D7%95%D7%9F-%D7%90%D7%AA%D7%A8-%D7%90%D7%95%D7%A8%D7%99%D7%92%D7%99%D7%A0%D7%9C%D7%A1 ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8

  18. Original’s / I.A.IL Ltd., “ASICS Summer 2026 1+1 promotion terms” - https://originals.co.il/pages/%D7%9E%D7%91%D7%A6%D7%A2-%D7%91%D7%99%D7%92%D7%95%D7%93-%D7%90%D7%A1%D7%99%D7%A7%D7%A1-1-1-%D7%9C%D7%97%D7%91%D7%A8%D7%99-%D7%9E%D7%95%D7%A2%D7%93%D7%95%D7%9F ↩ ↩2 ↩3 ↩4 ↩5 ↩6

  19. Original’s, “ABOUT US” - https://originals.co.il/pages/%D7%9E%D7%99-%D7%90%D7%A0%D7%97%D7%A0%D7%95 ↩ ↩2 ↩3

  20. Original’s, current store directory - https://originals.co.il/pages/%D7%97%D7%A0%D7%95%D7%99%D7%95%D7%AA ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8

  21. ASICS Corporation, “Announcement of the financial results for second quarter and the six months ended June 30, 2026,” 14 August 2026 - https://corp.asics.com/en/investor_relations/news/announcement-of-the-financial-results-for-second-quarter-and-the-six-months-ended-june-30-2026 ↩ ↩2

  22. ASICS Corporation, “Financial Data” - https://corp.asics.com/en/investor_relations/library/financial_data ↩ ↩2 ↩3 ↩4 ↩5 ↩6

  23. TLV Fashion Mall, “ASICS” store - https://www.tlvmall.com/stores/asics/ ↩

  24. ASICS, “ASICS FrontRunner Team Israel” - https://www.asics.com/ae/en-ae/frontrunner/team/israel ↩

  25. ASICS Corporation, financial performance chart / geographic net sales through FY2026 Q2 - https://corp.asics.com/chart/en/index_quen.html ↩ ↩2 ↩3 ↩4

  26. Global-E Online Ltd., 2025 Annual Report on Form 20-F, filed 2026, U.S. SEC - https://www.sec.gov/Archives/edgar/data/1835963/000117891326001772/zk2634880.htm ↩ ↩2 ↩3

  27. Israel Ministry of Defense, “Tender for professional running shoes for combat soldiers,” 6 January 2015 - https://mod.gov.il/%D7%9B%D7%AA%D7%91%D7%95%D7%AA-%D7%95%D7%9E%D7%91%D7%96%D7%A7%D7%99%D7%9D/%D7%97%D7%93%D7%A9%D7%95%D7%AA-%D7%9E%D7%A9%D7%A8%D7%93-%D7%94%D7%91%D7%99%D7%98%D7%97%D7%95%D7%9F/%D7%9E%D7%9B%D7%A8%D7%96-%D7%9C%D7%A0%D7%A2%D7%9C%D7%99-%D7%A8%D7%99%D7%A6%D7%94-%D7%9E%D7%A7%D7%A6%D7%95%D7%A2%D7%99%D7%95%D7%AA-%D7%9C%D7%9C%D7%95%D7%97%D7%9E%D7%99%D7%9D ↩ ↩2 ↩3 ↩4

  28. International Court of Justice, “Summary of the Advisory Opinion of 19 July 2024,” official copy hosted by the United Nations - https://www.un.org/unispal/wp-content/uploads/2024/07/186-20240719-sum-01-00-en.pdf ↩

  29. International Criminal Court, “Situation in the State of Palestine: Pre-Trial Chamber I issues warrants of arrest for Benjamin Netanyahu and Yoav Gallant,” 21 November 2024 - https://www.icc-cpi.int/news/situation-state-palestine-icc-pre-trial-chamber-i-rejects-state-israels-challenges ↩