OSAKA, Japan (BRAIN)—Sales of Shimano’s bicycle components, led by its remodeled Deore XT, hit 112.02 billion yen ($1.008 billion) through the first three quarters of 2007, up 28.6 percent compared with the same period last year, according to the company’s third-quarter financial summary.
The bike division’s operating income increased 51.1 percent to 19.19 billion ($172.77 million). “The demand for high-end series of mountain bike components increased owing to the high popularity of the fully remodeled Deore XT series. In European markets, market demand for all product groups were buoyant, helped by good weather and good economic conditions. Sales in Latin American and Chinese markets also increased,” Shimano’s accountants reported. The company also credited “the growing preoccupation worldwide with the environment and healthy lifestyle” with bolstering sales.
Overall sales, including Shimano’s fishing tackle and cold-forging segments, were up by 24.5 percent to 152.07 billion yen ($1.37 billion), and net income for the period was up by 61 percent to 15.83 billion yen ($142.49 million), the company reported. The current statement upped Shimano’s full-year net sales forecast by 5 percent and net income forecast by 7 percent over previous predictions, to 205 billion yen ($1.845 billion) and 21 billion yen ($189.04 million), respectively