Shimano reports drop in sales for the year so far
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A mix of market conditions and unforeseen circumstances resulted in Shimano’s fishing business reporting a year-on-year drop of 0.8% in net sales for the first nine months of 2016, to 48,443 million yen.
However, operating income increased by 35.2% to 5,373 million yen for the same period.
The Japanese market remained buoyant thanks to relatively stable weather from the beginning of the year to mid-August. Despite the temporary negative impacts of the Kumamoto earthquakes and typhoons on the fishing environment and consumption trends, sales in Japan exceeded those of the same period in the previous year, attributable in part to favourable sales of new products.
Sales in Asia were robust at the beginning of the year, supported by the weaker yen. However, they remained at virtually the same level as the previous year because retailers began adjusting inventory from the summer onward.
In Europe, North America, and Australia sales did not fully recover from the dip experienced in the first half. Despite this, net sales for the first nine months of the fiscal year 2016 achieved initial targets.