Shimano bike sales up 16% through June

OSAKA, Japan (BRAIN) — Shimano’s sales through the first half of the year hit $1.58 billion (123.56 billion Yen), a 15 percent increase over the same period last year. The company’s bicycle business was the main driver of this increase; bicycle product sales were $1.25 billion (98.0 billion Yen) over the period and 79 percent of the company’s business.
 
Geographically, the company’s sales into Southeast Asia and South America are driving increases as the bike markets in those regions continue to grow strongly. Sales to North America also improved, but not at the rate of Asia. Sales into Europe, the company’s largest market, were flat. A harsh winter season in Japan dampened sales into Shimano’s home market.
 
Success in Asia’s emerging bike markets caused the company to revise its estimated business for 2012 from its first quarter estimate of 233.0 billion Yen to 240.0 billion Yen. However Shimano is pessimistic about market conditions in Europe, citing the recent election of France’s François Hollande and the rise of anti-austerity parties in Greece as increasing uncertainty over Europe’s economic recovery.