Mizuno Corporation

At Tokyo Game Show 2026, which opened on the 17th, companies from outside the gaming industry are drawing attention with their first-ever exhibits, including Sanrio, which announced in April that it was making a full-scale entry into the gaming business, and major semiconductor maker Kioxia. Sanrio is developing games that make use of the world of its popular characters, and unveiled titles including Sanrio Party Land, scheduled for release in October as its first offering, while Hello Kitty appeared on stage to entertain visitors. Senior Managing Executive Officer Kosuke Hamazaki said, "We want even people who don't play games much to give them a try." Commercial kitchen equipment maker Nakanishi Manufacturing exhibited for the first time a game set in a cafeteria in another world, and many companies took on the challenge, with PARCO showing three indie titles that can be developed on a low budget and Toei also setting up a booth where visitors can try three titles before their release. Kioxia displayed high-speed storage devices for game consoles of the kind also used in international esports competitions, while Mizuno introduced its latest game controllers and high-performance gaming chairs. Atsuo Nakayama, a specially appointed professor at Nihon University who is well versed in the entertainment industry, said, "Games can keep users engaged for a long time, so every industry is always looking to move in. The market is expanding, and there is still room to enter."

Against the tailwind of sporting events in 2026, the comparison between Japan's two leading sports manufacturers, Asics and Mizuno, is drawing attention. Asics has achieved high growth through the success of Onitsuka Tiger and global expansion, trading at a high forward PER of 31 times, while Mizuno is undervalued at 14 times PER, with a solid earnings base in competitive equipment such as baseball and golf gear. Asics posted strong first-quarter operating profit of 60.8 billion yen, up 37 percent year-on-year, reaching a progress rate of 35.5 percent against its full-year plan, making an upward revision almost certain. Mizuno expects revenue to rise 8.1 percent to 280 billion yen and operating profit to increase 12.8 percent to 25.5 billion yen this fiscal year, both setting new record highs and maintaining a trend of consecutive revenue and profit growth. In terms of share price levels and supply-demand dynamics, Asics is down only 5 percent from its all-time high, while Mizuno is down 18 percent, and the margin trading ratio also highlights the weight of outstanding buy positions, with Asics at 1.4 times versus Mizuno at 30.2 times.