OSAKA, Japan (BRAIN) — In the year the company celebrated its 100th anniversary, Shimano Inc.’s sales and operating income hit an all-time record, driven primarily by its business in the bike industry.
Company-wide, Shimano's sales last year were up 44.6% over 2020, while operating income was up 79.3%.
In Shimano’s bike division, net sales were up 49.0% to 443.7 billion yen ($3.8 billion) and operating income increased 82.7% to 125.2 billion yen.
Much of the increase came in the first half of the year, when 2021 sales were being compared to the first half-year of the pandemic when some operations came to a standstill.
However, even compared to pre-pandemic years, Shimano’s 2021 performance was remarkable. The 2021 bike-related sales were up 41% over 2015, its previous record year, for example.
“Demand for mid to high-end bicycles remained at high levels due to the global cycling boom, triggered by the spread of COVID-19, but some markets began to settle down in the second half of fiscal year 2021,” the company said in its full-year report Tuesday.
Shimano's bike-division sales, in billions of yen:
- 2021: 443.7
- 2020: 297.8
- 2019: 290.0
- 2017: 270.2
- 2016: 259.5
- 2015: 314.0
- 2014: 274.0
- 2013: 217.3
- 2012: 198.2
- 2011: 177.3
- 2010: 169.4
- 2009: 144.7
- 2008: 185.9
- 2007: 157.8
Sales in Shimano's fishing tackle division were up 28.1% to 102.4 billion yen. Fishing accounted for 19% of Shimano's business. Non-bike and fishing business totaled 447 million yen, or about a tenth of one percent of Shimano's total business.
Company-wide sales were 546,515 million yen, up 44.6% over the prior year. Operating income company-wide was 148,287 million yen, up 79.3% over 2021. Earnings per share were 1,252.62 yen, up from 684.71 yen per share in 2020.
Shimano is forecasting a 6.1% increase in sales in fiscal 2022, with company-wide sales hitting 580 billion yen and operating income 161 billion yen.
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