News Article

Shimano Net Income Nearly Halved

Home

OSAKA, Japan (July 30) – Over its fiscal year 2001, which ended on December 31, 2001, Shimano, Inc. reported lowered annual figures. Net group sales over 2001 totaled JPY 125.5 billion (US$ 951 million), down from JPY 143 billion in 2000. Net income nearly halved to JPY 5.7 billion (US$ 42.8 million) or JPY 41.5 […]

OSAKA, Japan (July 30) – Over its fiscal year 2001, which ended on December 31, 2001, Shimano, Inc. reported lowered annual figures. Net group sales over 2001 totaled JPY 125.5 billion (US$ 951 million), down from JPY 143 billion in 2000. Net income nearly halved to JPY 5.7 billion (US$ 42.8 million) or JPY 41.5 per share, compared with JPY 9.9 billion or JPY 71.9 per share in 2000. Operating income was JPY 11.2 billion ($ 85.3 million).
Shimano’s bicycle components sales represented roughly two thirds of its overall turnover with JPY 85.7 billion ($649.9 million) net sales in 2001. Costs and expenses totaled JPY 77.6 billion ($588.4 million). Operating income was JPY 8.1 billion ($61.4 million) for the bicycle components segment. Around 75% came from exports and sales outside Japan. Group President Yozo Shimano commented in its annual report that sales in the bike sector were sluggish, due to the decline in demand worldwide and the adjustment of inventory in Europe. Last year Shimano introduced its Nexave groupset, completed its high-end Dura-Ace group with a triple front chaining and new disc brakes. Earlier this year Shimano targeted to increase its net bike sales to JPY 86.9 billion ($754 million).(FN)

Comment on this article