OSAKA, Japan (BRAIN) — Shimano’s bicycle component sales increased 4.6% to ¥278.4 billion ($1.76 billion) in the first nine months of the company’s fiscal years, and operating income in the division increased 10.9% over the period.
The company raised its outlook for the full fiscal year for sales, operating income and net income due to weakening Asian currencies, which increases demand while raising non-operating costs. The new outlook raises the full-year company-wide net sales forecast by 0.9%. Shimano raised its full-year operating income forecast by 15.5% and net income by 9.3%.
“Amid continued strong interest in bicycles as a long-term trend, retail sales of completed bicycles remained generally solid, despite the impact of global inflation, and adjustments of market inventories made gradual progress,” the company said.
Shimano said North American sales of complete bikes “remained weak” due to an uncertain economic outlook and “stubbornly” high prices due to tariffs. However the company said market inventories remained at appropriate levels in North America. it said sales of complete bikes in Europe remained “solid.”
Sales in the bike division totaled over the nine-month period.
Sales in Shimano's fishing tackle division were up 14.4% to ¥96.6 billion over the period, while operating income in that division was up 72.9%.
Through the third quarter, which ended Sept. 30, company-wide, Shimano sales were up 6.9% to ¥375 billion. Operating income increased 21.8% to ¥44 billion over the nine months.
For the third quarter alone, company wide sales were ¥128.2 billion, up from ¥113.6 billion in the third quarter last year.
