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Steady net sales uplift for Shimano in latest reporting period

Shimano 105 cassette

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.’



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