OSAKA, Japan (BRAIN) — Shimano bike component sales decreased 20.7% year-over-year in the first half with the brand saying global market inventories remain elevated.
Net sales from this segment that ended June 30 were 162,594 million yen ($1.05 billion), and operating income was 24,328 million yen, a 42.2% decrease. Shimano’s overall net sales were 216,887 million yen, compared with 263,250 million yen at the same time last year, a decrease of 17.6%.
On a quarterly basis, second-quarter bike division sales were 86,504 million yen, down 18.9% from the same period last year.
“While the strong interest in bicycles continued as a long-term trend, supply and demand adjustments of completed bicycles continued, and global market inventories generally remained high,” Shimano said.
The North American market retail sales of completed bikes softened, Shimano said, with inventories remaining “somewhat” high. Shimano added retail sales were solid in Germany and Benelux countries. Oceanian and Central and South American markets retail sales of completed bikes were weak. In the Chinese market, because of continued road bike popularity, retail sales of completed bikes and inventories were strong.
“Under these market conditions, demand for Shimano 105 and other components for road bikes was firm,” the brand said. “In addition, the Shimano Group received a favorable reception for its products, including a gravel-specific component Shimano GRX.”
Fishing division net sales declined 6.8% year-over-year to 54,069 million yen, and operating income dropped 43.8% to 6,651 million yen.
Shimano increased its overall full-year sales forecast 7% to 450,000 million yen, from the previous forecast of 420,000 million yen. That would be a 5% decrease from 2023's full-year 474,000 million yen sales figure.
