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Article Date: April 2022
Word Count: 300

Shimano Sales Grow 14% in First Quarter


Net income attributable to shareholders inched up just 1% to ¥28,740 million ($247.3 mm) in the first quarter from ¥28,596 million last year, on revenues that were up 14% to ¥144,047 million ($1,239.6 mm) from ¥126,426 million on balanced growth in bike and fishing. Gross margin was up 150 basis points to 42.3%, but SG&A increased 20% in yen, deleveraging 80 b.p. as a% of sales. Also weighing on the bottom line was about ¥1 billion from an impairment charge and subsidiary restructuring, and an almost ¥3 billion negative swing in foreign exchange. Full year guidance remains unchanged, expecting ¥580 ... Log in to view full article.

 


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