For 2018, Shimano has reported a 2.6% year on year uplift in net sales of its bicycle components division to ¥277.2 billion (US$2.5 billion). Operating income in 2018 decreased 0.3% to ¥57.3 billion (US$517.1 million).
Total group net sales for fiscal year 2018, increased 3.6% from the previous year to ¥348.0 billion. Operating income increased 2.1% to ¥65.7 billion.
In Europe, retail sales of completed bicycles, mainly sport e-bikes, were seen to be generally robust. This was partly because favourable weather conditions continued from April through the summer season, and distributor inventories of bicycles remained relatively low.
In North America, retail unit sales of completed bicycles fell below the previous year’s level, but shifting to high-end models helped retail sales to stay at the same level as the previous year. Distributor inventories remained at an appropriate level.
In China, retail sales of completed bicycles were below the previous year’s level, but distributor inventories remained in an ‘appropriate range’.
With regard to the other emerging markets, Shimano added that Southeast Asia as a whole lacked vigour. Although retail sales of completed bicycles showed signs of a gradual recovery in Indonesia. In South America, the Brazilian market eventually bottomed out after consumption had slightly weakened, while the Argentine market remained stagnant due to the effects of currency depreciation. Distributor inventories remained at an appropriate level except for the Argentine market.
In the Japanese market, retail sales of both sports bicycles and community bicycles remained sluggish. Nonetheless, retail sales of e-bikes as a whole increased, and particularly sport e-bikes have gained more attention. ‘Distributor inventories remained at a slightly high level within an appropriate range.’
Under these market conditions, Shimano added that its new 105 Series, ‘which is one of the high-end road bike components, and the new SHIMANO STEPS E7000/E6100 sport E-BIKE components, were well received in the market.’