Shimano Inc. has released its 2018 financial report announcing that net sales from its bicycle segment increased 2.6% from the previous year to 277,243 million yen (approx. US$2.5 billion), while operating income decreased 0.3% to 57,250 million yen (approx. US$516 million).
Shimano commented that in Europe, retail sales of completed bicycles, mainly sports e-bikes, were generally robust partly because the favorable weather continued from April through the summer season, and distributor inventories of bicycles remained relatively low.
In North America, retail unit sales of completed bicycles fell below the previous year’s level, but shifting to high-end models helped retail sales amount to stay at the same level as the previous year. Distributor inventories remained at an appropriate level.
In China, retail sales of completed bicycles were below the previous year’s level, but distributor inventories remained in an appropriate range.
With regard to the other emerging markets, Southeast Asia as a whole lacked vigor although retail sales of completed bicycles showed signs of a gradual recovery in Indonesia. In South America, the Brazilian market eventually bottomed out after consumption had slightly weakened, 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, retail sales of both sports bicycles and community bicycles remained sluggish owing partly to unseasonable weather conditions, which started with the cold waves at the beginning of the year, as well as natural disasters. Nonetheless, retail sales of e-bikes as a whole increased, and particularly, sports e-bikes have gained more attention. Distributor inventories remained at a slightly high level within an appropriate range.
Shimano also noted that the new Shimano 105 Series, which is one of the high-end road bike components, and the new Shimano Steps E7000/E6100 sport e-bike components, were well received in the market.
