Osaka, Japan – Shimano has released its financial report for the first quarter of the 2018 fiscal. Accordingly, net sales for the entire group increased 6.7% from the same period of the previous year to 85,236 million yen. Operating income increased 10.9% to 16,928 million yen, and ordinary income increased 16.3% to 15,454 million yen.

Net sales from the bicycle segment increased 5.1% from the same period of the previous year to 68,000 million yen, and operating income increased 5.5% to 14,757 million yen.

The company noted that its STteps E8000 drive unit for E-MTBs, DI2 electronic shifting system version and Ultegra disc brakes for road bike components were well received in the market.

Europe
“While retail sales of completed bicycles, mainly E-BIKE, stayed in a robust situation since the second half of the previous year, distributor inventories of bicycles remained at an appropriate level.”

North America
“Although retail sales of completed bicycles were sluggish at the beginning of the year, distributor inventories maintained an appropriate level.”

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, although distributor inventories remained at an appropriate level.”

Emerging markets
“Retail sales of completed bicycles in Southeast Asia showed signs of recovery, but still lacked vigor. Retail sales of completed bicycles in South America maintained recovery from the second half of the previous year, particularly in Brazil and Argentina. Distributor inventories were at an appropriate level both in Southeast Asia and South America.”

Japan
“Retail sales of both sports bicycles and community bicycles were lackluster, partly due to unstable weather, such as heavy snowfalls. Distributor inventories remained at a slightly high level, though they were in an appropriate range.”