ASICS puts investor relations to test with sports charity plan

TOKYO -- Japanese sporting goods maker ASICS faces growing tensions with shareholders ahead of its annual general meeting on March 28, with a U.S. proxy advisory firm opposing a proposal to use company shares to create a foundation for supporting participation in sports.

ASICS, which owns the Onitsuka Tiger brand, is known for taking investor relations seriously. It declared last year that it would sell all cross-shareholdings. Its profit growth and shareholder returns have drawn attention, with market capitalization nearly quadrupling in the past two years to around 2.4 trillion yen ($16.1 billion).