OSAKA, Japan – Unstable summer weather in Europe and the United States caused sluggish retail sales, notes Shimano in its financial report on Q3 of 2011. To revitalize sales the component maker is: “Focusing on the creation of a stream of captivating products.”
During the first nine months of 2011 Shimano saw an increase in the sale of bicycle components of 4.5%. Shimano’s turnover between January and late September amounted 128,712,000 Japanese yen (1,110.3 million). Operating income decreased by 11.6% to 21,210 million yen (182.9 million euro).
The Japanese manufacturer of bicycle components is increasingly benefiting from the rapidly increasing market for sport bikes in China. The buoyant market growth for this year maintains on the same high level as in 2010. Shimano says that worldwide sales of the new group Deore XT and Tiagra, launched in the second quarter are still running well. The manufacturer is most satisfied with the order intake of the new Ultegra Di-2 race group.
Despite the growing importance of the Chinese market for Shimano, the company is increasingly concerned about the poor economic conditions in the US and the debt crisis in Europe. Shimano states that: “In these circumstances we are endeavoring to strengthen our competitiveness. While closely monitoring economic trends in Japan and overseas, we are focusing on the creation of a stream of captivating products. At the same time we are working to establish agile and efficient production and logistics systems to deliver out products throughout the world.”
* Please note that Shimano Inc. has announced figures in JPY currency only. EUR equivalent amount is calculated by up-to-date exchange rate for the reference, the company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.