Business news :Shimano Revenues Grew 4.9 Percent in Fourth Quarter

Shimano Corp. released financial results for fiscal 2012 indicating its revenues increased 4.9 percent to ¥63.1 billion ($803 mm) in the fourth quarter ended Dec. 31.

Bicycle revenues in the quarter rose 6.9 percent to ¥52.0 billion yen ($661 mm), while Fishing revenue declined 3.5 percent to ¥11.0 billion ($141mm). Other revenues slipped 20 percent to ¥96 million ($1.2mm).

For the full fiscal year, Shimano reported Bicycle revenues increased 11.8 percent to ¥198.2 billion ($2.49 bb). European retail sales remained at virtually the same level as for the previous year, but edged up in North America. The market for sports bicycles in China lost momentum after spiking in 2011, but still grew at a stable pace.  In Southeast Asia and South America, overall demand for sports bicycles gew, while sales remained lackluster in Japan.

For the full fiscal year, Fishing Tackle sales increased 7.6 percent to ¥47.2 billion ($593mm). Sales were up in Japan despite typhoons and cold weather impeding sales for much of the year. A strong yen, heat waves, hurricanes in North America and the recession in Europe presented headwinds, but international sales still grew, particularly in Oceania.

Shimano forecast its 2013 Bicycle sales would grow 2.5 percent to ¥6.5 billion in Japan and 78.5 percent to ¥200.1 billion overseas. Fishing Tackle sales are forecast to grow 18.8 percent to ¥48.0 billion.

( SportsOneSource Media )