Shimano Continues Double Digit Growth
OSAKA, Japan – Like in the first two quarters of the year also in the third quarter of 2015 Shimano managed to continue its double digit growth. As a result, for the first nine months of 2015, net sales increased 19.0% to JPY 286,840 million (€ 2,166mn) while operating as well as net income increased with even bigger numbers.
Shimano’s operating income increased 35.7% to JPY 65,087 million (€ 491mn). The company’s ordinary income increased by a huge 74.2% to JPY 84,007 million (€ 634mn), and net income increased even bigger with 86.7% to JPY 64,715 million (€ 489mn).
‘Strong e-bike sales’
On the sale of bicycle components during the first three quarters of 2015 Shimano says in its financial statement, “Demand in both Europe and North America was little affected by the weather. In Europe, although sales volume has been running at a somewhat lower level than during the previous year when sales were brisk thanks to good weather, retail sales have been strong with brisk sales of high-end models centring on e-bikes.
Both in Europe and North America, distributor inventories have remained virtually at the appropriate level. In Japan, whereas retail sales of sports bicycles continued to be robust, retail sales of community bicycles have been weak, greatly affected by the impact of price increases resulting from the depreciation of the yen, and distributor inventories of community bicycles remained somewhat high.”
On its sales in emerging markets Shimano says, “Retail sales of sports bicycles in China have been below the previous year’s level, reflecting the economic slowdown. On the other hand, growth of sales of sports bicycles in other promising emerging markets, namely Southeast Asia and South America, has continued to be relatively robust.
“In these market conditions, full model changes of Deore XT and Acera mountain bike components and Tiagra road bike components, which were launched during the first half, were well received and order-taking remained brisk. As a result, net sales from this segment increased 21.0% from the same period of the previous year to JPY 237,738 million (€ 1,794mn).”