Having previously reported a strong first half of its fiscal year 2015, Shimano Group has seen a continued double-digit uplift for the nine months of 2015.
In the three quarters of fiscal 2015, Shimano Group reported a net sales increase of 19.0% year on year to ¥286,840 million (US$2.4 billion). Operating income increased 35.7% to ¥65,087 million, and net income increased 86.7% to ¥64,715 million.
Shimano noted that demand for bicycle components in both Europe and North America was little affected by the weather. In Europe, although sales volume has been running at a somewhat lower level than during the previous year when sales were brisk – thanks to good weather, retail sales have been strong.
In Europe and North America, Shimano added that distributor inventories have ‘remained virtually at the appropriate level’.
In Japan, whereas retail sales of sports bicycles continued to be robust, retail sales of community/urban bicycles have been weak, greatly affected by the impact of price increases resulting from the depreciation of the Yen, and distributor inventories of community bicycles remained somewhat high.
Retail sales of sports bicycles in China have been below the previous year’s level, reflecting the economic slowdown in the country. On the other hand, growth in the sales of sports bicycles in other promising emerging markets, namely Southeast Asia and South America, has ‘continued to be relatively robust’.
In these market conditions, Shimano added that full model changes of DEORE XT and ACERA mountain bike components and Tiagra road bike components, which were launched during the first half, were well received and ordertaking remained brisk.
As a result, net sales from Shimano’s bicycle components division increased 21.0% year on year to ¥237,738 million, and operating income increased 37.0% to ¥61,233 million.
