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Shimano's Q1 Bike Sales Down 18 Percent

Published May 26, 2009

OSAKA, Japan (BRAIN)—Shimano, whose overall sales fell 19 percent during the first quarter, reports that its bike business—78 percent of its total sales—fell 18 percent to $373 million (JPY 35.3 billion) from $456 million (JPY 43.3 billion) last year.

Sales in its other two divisions also were down. Shimano’s fishing business, 21 percent of its overall sales, fell 17 percent to $100 million (JPY 9.5 billion). Its other businesses including auto parts, 1 percent of overall sales, fell 70 percent to $28 million.

As mentioned in a previous report, Shimano revised its first six-month forecast down 21 percent, expecting its sales to be harder hit during the second quarter then the first quarter.

—Matt Wiebe

Topics associated with this article: Earnings/Financial Reports

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