OSAKA, Japan(BRAIN) Monday April 30 2012 2:07 PM MT—A warm winter in Europe and North America pushed Shimano’s bicycle component sales to $619.7 million ($49.808 billion Yen) over the first quarter, up from $507.5 million ($40.792 billion Yen) last year, a 22 percent increase.
Overall, Shimano’s sales were up 23 percent to $777.22 billion (62.472 billion Yen) from $633.25 million (50.900 billion Yen), the warm weather also contributed to Shimano’s fishing sales climbing 26 percent.
Shimano sees the warm weather pushing its selling season forward, and increasing its business this year, increasing its sales estimate for 2012 by $37.3 million (3.0 billion Yen) from its February forecast.
And though the company sees improving economic conditions in Europe and the United States keeping sales strong, it still singles out growing sport bike sales in China as fueling its real growth.
Conditions in its home market of Japan are still tough. Not only have they had a cold and snowy winter, questions about the country's electricity supply and strong Yen continue to affect the economy.