Shimano has released its latest summary of financial results, running from 1st January to 31st March 2019.
It revealed that its net bicycle sales increased by 2.4% from the same period of the previous year to 69,603 million yen, and operating income decreased 5.6% to 13,926 million yen.
The company said that in Europe, retail sales of completed bicycles, mainly sport e-bike, remained ‘solid’ in continuation from the previous year, and distributor inventories of bicycles in Europe remained at an ‘appropriate level’. In North America, it said that although total retail unit sales of completed bicycles were ‘sluggish’, the sales amount remained at the same level as the previous year due to relatively strong sales of high-end bicycles. Distributor inventories remained at an appropriate level.
It added: “In China, retail sales of completed bicycles showed no signs of recovery, and retail sales of low-end and middle-range bicycles continued to be sluggish. Meanwhile, distributor inventories remained at an appropriate level. With regard to the other emerging markets, retail sales in Southeast Asia continued to lack vigor. Meanwhile, in South America, while retail sales in the Brazilian market continued to recover, the Argentine market remained stagnant due to the effects of currency depreciation. Distributor inventories remained at an appropriate level except for the Argentine market.
“In the Japanese market, despite good weather conditions, sales of high-end sports bicycles were sluggish. Meanwhile, as the shift to sports-type cross bike and e-bike for commuting to work and school further progressed, unit sales decreased, but sales unit prices increased. Distributor inventories were slightly high. Under these market conditions, the Shimano 105 Series, which is one of the high-end road bike components, and the Shimano Steps sport e-bike components, were well received in the market in continuation from the previous year.”