During the first nine months of fiscal year 2018, Shimano saw an overall net sales increase of 3.2% year on year to ¥253.9 billion. Operating income increased 2.7% to ¥47.8 billion. Shimano’s bicycle components division reported a 2.2% year on year increase in net sales to ¥200 billion, while operating income decreased 0.1% to ¥41.1 billion.
In its reporting for the first nine months of its fiscal year, Shimano pointed to a number of factors at play for its bicycle components operation:
- In Europe, with the stable weather continuing through the summer season, retail sales of completed bicycles, mainly sport e-bike, stayed robust and distributor inventories of bicycles remained at a slightly lower level, though they were in an appropriate range.
- In North America, retail sales of completed bicycles were on par with an average year, and distributor inventories remained at an appropriate level.
- In China, retail sales of completed bicycles remained feeble and retail sales of low-end and middle- range bicycles continued to be sluggish. On the other hand, bike sharing is facing a period of realignment and the number of products supplied to the market has stabilized, thereby distributor inventories remained at an appropriate level.
- With regard to the other emerging markets, Southeast Asia as a whole lacked vigour although retail sales of completed bicycles showed signs of a gradual recovery in Indonesia.
- In South America, consumption showed signs of slowdown due to the effects of continuing currency depreciation and political instability in Brazil and Argentina.
- Distributor inventories were at an appropriate level both in Southeast Asia and South America.
- In the Japanese market, although retail sales of sports bicycles and community bicycles remained sluggish owing partly to the unseasonable weather conditions persisting since the beginning of the year, sales of e-bikes as a whole increased, and particularly, [the] sport e-bike has gained more attention. Distributor inventories remained at an appropriate level.
Under these market conditions, Shimano added that its new 105 Series, ‘which is one of the high-end road bike components, were well received in the market.’