Shimano Inc has reported that consolidated net sales rose 13.1% in the first nine months of 2012, with a 79.3% surge in consolidated income. Focusing specifically on its bicycle components division, Shimano reported sales of ¥146 billion (US$1.8 billion) – up 13.6% year on year. Operating income for Shimano’s bike business increased 40.6% to ¥30 billion (US$373 million).
As with the first half 2012 results for the groupset manufacturer, Shimano noted that sales in Europe, a key market for the company, remained at virtually the same level as in the 2011 period. This is even with the unsettled weather across the region in the first half of the year. North American sales continued to be more buoyant, thanks in part to a mild winter and stable spring weather.
Emerging markets continued their strong growth path, notably China, where demand for sports bicycles remained high. Although, Shimano noted that, in China, ‘sales could slow toward the end of 2012 as the Chinese economy may have peaked.’
