Shimano forecasts sharp declines in '09

NET sales and income projected to slice last year's growth
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Shimano has released its forecasts for the year ahead and financials for the past year.

Although strong growth was seen between 2007 to 2008, this year's path puts the company's consolidated net income almost back on par with '07 levels at 20,000 million Yen.

From January 1st to December 31st 2008, Shimano recorded net income of 25,150 million Yen, up from the previous year's 19,894 million Yen figure.

Bicycle components made up 79.1 per cent of sales, while fishing equpment made up the majority of remainding sales.

Europe is still Shimano's biggest customer, with 40.8 per cent of exports landing here. Asia made up 32.7 per cent of shipments, while the USA accounts for 12.8 per cent. Japan recieved 12 per cent of the exports.

Total net assets fell by 11,945 million Yen between December 31st 2007 to the same date in 2008.

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