Shimano has released its latest summary of financial results, running from 1st January to 30th June.
It revealed that its net sales from the bicycle components segment increased by 4.1% from the same period of the previous year to 143,599 million yen, and operating income decreased 3% to 28,613 million yen.
The company said that in Europe, good weather conditions from the beginning of spring supported ‘favourable’ retail sales of completed bicycles, mainly sport e-bikes, 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 had been ‘sluggish’ from the start of the year, the sales amount remained at the same level as the previous year due to improved weather from the latter half of March and also owing to a ‘favourable’ sales environment, mainly for high-end bicycles. Distributor inventories remained at an ‘appropriate level’.
It added: “In China, retail sales of completed bicycles showed no clear signs of recovery, and sales continued to lack vigour. Meanwhile, distributor inventories remained at an appropriate level.
“With regard to the other emerging markets, in South America, the Brazilian market continued to recover, while 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 overall 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, disc brake components for high-end road bikes and the Shimano Steps sport e-bike components were well received in the market in continuation from the previous year.”