OSAKA, Japan (BRAIN)—Shimano sales over the first quarter were 11 percent higher than the same period last year, and better than the company forecasted.
Shimano’s sales hit $533.5 million* (50.23 billion Yen) over the first three months of the year, up from $479 million (45.09 billion Yen) last year, though still behind Shimano’s record 2008 year.
Shimano saw strong sales growth in its North America and Asia markets, up 27 and 17 percent respectively. Shimano’s Asian sales are to bike makers who ship bikes to world markets.
Bicycle sales continue to outpace Shimano’s fishing and other businesses, posting sales of $424.1 million, an increase of 13 percent.
*All dollar amounts were based on a currency conversion of 100 Yen equals $1.06.