Shimano Enjoys Brisk 2010 Sales

TOKYO, Japan – Shimano Group managed to double its net income to 19,121 million yen (170,7 million euro) during the fiscal year 2010, say the company’s financial results which were published earlier today. Net sales rose 14.4% tot 213,596 million yen (1,907 million euro) while ordinary income increased 37.9% tot 27,763 million yen (247,7 million euro).

Shimano’s financial report mentions for the results of it bicycle components segment that in the major markets of Europe and the United States that: “Altough retail sales were lacklustre in January and February owing to unusually severe winter weather, they remained firm from March onward.

“Products that Shimano introduced in the second quarter, namely the new 105 series for road bike components and Deore XT and SLX for mountain bike components, continued to enjoy brisk sales, attesting the popularity of these new products.

“In the third quarter, Shimano introduced the fully remodelled XTR flagship and order-taking for the series was buoyant. In the fourth quarter, reflecting robust retail sales and normal level distribution inventories, sales of Shimano’s 2011 spring models were brisk. As a result, sales from the bicycle components segment increased 17.1% from the previous year to 169,409 million yen (1,512 million euro) and operating income rose 56,1% tot 31,032 million yen (276,9 million euro).”

Outlook

For 2011 Shimano says in its financial report that there’s concern that the tempo of recovery may slow in the European economies, the US and other advanced countries. “In view of this outlook Shimano forecasts for 2011 an increase of 3% in net sales; 18.9% increase in of ordinary income and net income to rise by 15.1%.”