Shimano begins year with 20% sales increase
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Shimano has continued its upward trend in fishing tackle sales and reported an increase of more than 20% for the first three months of the year.
The Japanese giant says that its sales reached 14,550 million yen – a 20.6% increase compared to the same period last year – and reported brisk sales to retailers in Europe, North America and Oceania.
In Japan, sales also grew after getting off to a smooth start thanks to stable weather from the New Year onwards and longer than usual holidays. It added that its domestic market lost momentum following record-breaking snowfall in parts of the Pacific-facing regions.
In its report to investors, Shimano said: “Thanks to a mild winter in Europe, business conditions continued to improve as personal consumption at last became evident in the region.”
It did add a note of caution, citing the heightening political unrest in Ukraine as a cause for concern.
“Overseas, although the economies of developed countries, including the US, are relatively robust, they all have issues and the pace of economic improvement is expected to be moderate.”
As a result the company has revised upwards its forecast for the full year ended December 31st, 2014 and is predicting group net sales of 287,000 million yen compared to its previously published expectation of 280,000 million yen.