Possible Ban of Nike Super Shoes Pushes Up Asics, Mizuno Shares
This article is for subscribers only.
Reports that Nike Inc.’s acclaimed running shoes may be banned from competition by World Athletics might displease elite athletes, but could be good news for rival Japanese footwear makers.
Shares in Japanese sneaker maker Asics Corp. surged as much as 8% Thursday before paring gains to 4.7% as of 11:41 a.m. in Tokyo, after the Times of London and others reported that World Athletics was mulling a ban for Nike’s Vaporfly shoes in professional competition. Mizuno Corp., another Japanese maker of running equipment, rose as much as 1.6%.