Against a tough global economic backdrop, Shimano Inc has reported consolidated net sales of ¥221,700 million (US$2.85 billion) in fiscal 2011, up 3.8%. In its Bicycling Components division, the groupset and accessories specialist reported sales of ¥177,307 million (US$2.28 billion) in 2011, up 4.7% year on year. Here, operating income fell back 3.4% to ¥29,966 million.
Shimano noted that retail sales remained robust in Europe and North America and were virtually unchanged year on year. The sports bicycles market in China, which has been buoyant since early 2011, continued to show strong growth. Shimano noted that sales of sports bikes in China ‘greatly exceeded the previous year’s level.’
Overall, Shimano’s new product launches have enjoyed ‘brisk sales’. DeoreXT mountain bike components and Tiagra road bike components were introduced in Q2 2011. The company’s introduction of affordable electronic shifting with the Ultegra Di2 groupset has maintained momentum since being launched in the third quarter.
The company noted that ‘order-taking for Shimano products for spring 2012 was upbeat, spurred by the anticipation of further growth of demand in China for sports bicycles, coupled with robust sales and normal level distribution inventories.’
Forecasting ahead for fiscal 2012, Shimano stated that ‘If the government debt crisis were to push Europe into recession, prospects for China and other emerging economies would be damaged. In Japan, it is hoped that demand associated with recovery from the Great East Japan Earthquake will boost the economy.’
Although, Shimano pointed to the strong yen – which undermines the competitiveness of exporters in Japan. Going forwards, the company will endeavour to ‘create a stream of captivating products complemented by agile and efficient production and logistics systems deployed to deliver those products worldwide.’
