OSAKA, Japan (BRAIN) — Shimano sales gained 11 percent last year to $2.6 billion (245.8 billion yen). Sales of Shimano bicycle products were $2.1 billion (198.2 billion yen) a 12 percent increase, while fishing sales were up 8 percent to $505.4 million (47.2 billion yen). The company’s bicycle business is 81 percent of its overall business.
Asia is now Shimano’s largest market, bumping Europe into second place. The company’s Asian sales were up 14 percent, from $835.6 million (78.1 billion yen) in 2011 to $952.2 million (89.0 billion yen) last year. Sales into Europe were up five percent to $905.1 million (84.6 billion yen) and Shimano’s sales into North America hit $315.1 million (29.5 billion yen), a 13 percent increase.
Given persistent economic problems in Europe and the U.S., and the impact of this on Asian export-driven economies, Shimano only is predicting sales growth of 4 percent next year. The company does not expect the weakening yen, down 13 percent since November, to influence its business much.