SHIMANO REPORTS Q2 2020

OSAKA, Japan — For the first half of fiscal year 2020, net sales decreased 11.9% from the same period of the previous year to 160,255 billion yen ($1.5USD).

Bicycle products division were down 14.6% from the same period last year, to 123 billion yen ($1.2 billion USD); operating income in the segment was down 19.7%. Demand for bikes “rapidly increased” when COVID-19 restrictions were lifted in Europe, North America and China, and said that distributor bike inventories were low starting in May.

Fishing tackle net sales from this segment decreased 1.8% from the same period of the previous year to 37,487 billion yen ($357 million USD). In North America were underpinned by e-commerce as a mode to purchase fishing tackle without going outside. With the lifting of restrictions in late April, demand for fishing products rapidly increased and sales recovered to the level of the same period of the previous year.

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2020-07-29T11:31:32-04:00 July 29th, 2020|