For the first nine months of 2011, Shimano has reported that consolidated net sales (across all business units) increased by 3.7% year on year to reach ¥161.6 billion (US$2.1 billion). The company’s Bicycle Components business segment saw a 4.5% year on year gain in sales to reach ¥128.7 billion (US$1.6 billion).
Economic malaise
Commenting on its performance for the first nine months of 2011, Shimano noted that ‘the economic malaise deepened in the US and Europe, whereas high economic growth continued in China. In Japan, recovery of the supply chains and production facilities affected by the Great East Japan Earthquake gave the economy a temporary lift. Nevertheless, the business environment for exporters became more challenging owing to uncertainty concerning the European and US economies and the rapid appreciation of the Yen.’
Bike unit steady
Shimano noted that its Bicycle Components business segment saw sluggish retail sales in Europe during the months of June and July, following unsettled weather. Although, retail sales in the first nine months were virtually unchanged in most major markets.
The market for sports bicycles in China, ‘which has been buoyant since the beginning of 2011, continued to grow greatly compared with the previous year.’ Meanwhile, ‘brisk sales of products introduced in the second quarter, namely, the DeoreXT mountain bike components and the Tiagra road bike components,continued.’
Shimano also reported that order-taking has been upbeat for its new Ultegra Di2 electronic groupset.
Full year forecast
Despite a relatively encouraging position for its bike business, reflecting the challenging economic backdrop, particularly in the US and Europe, Shimano has lowered its overall sales forecast for the year. The company has now issued a consolidated forecast of ¥221.0 billion (US$2.8 billion) for the full year of 2011. This replaces the company’s last forecast announced on 27 July.
