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OSAKA, Japan – Shimano has been able to maintain positive sales and net income figures during the first quarter of this year. Although it is not that impressive as last year’s performance, the Japanese component supplier is still showing double digit growth figures.

Overall the net sales rose by 15.9% to JPY 55,586 million (€ 314 million) in the first quarter of 2008. The net income went up by 14.7% to JPY 5,349 million (€ 30 million).

Positive attitude towards bicycles

Shimano is taking full advantage of the global positive attitude towards bicycles. The sales of bicycle components is even compensating the loss of Shimano’s other activities. As a result, the sales for this segment soared 21.9% compared with the same period of the previous year to JPY 43,273 million (€ 295 million) and the operating income jumped 30% to JPY 8,343 million (€ 47 million).

In Europe Shimano reported a growth of the medium and high-end components for MTB and road bikes, while the other markets showed a rise in medium-end models. For the whole year Shimano has not adjusted it forecast of its financial performance.