Despite strong sales at the beginning of the quarter spurred on by clement weather in Europe and North America, Shimano has announced that sales of bike components dropped sharply from January to March 2020 due to the coronavirus pandemic.
According to the company's financial results announcement, net sales for Shimano's bicycle component segment decreased by 15.4% to 58,868 million yen from the same period of the previous year. Furthermore, operating income decreased by 26.1% to 10,298 million yen.

In a statement Shimano made the following comments about various regions around the globe:
In Europe, aided by the mild winter since the beginning of the year, retail sales of completed bicycles, especially e-bikes, had been strong, but sales declined sharply from the middle of March due to the impact of the novel coronavirus, and distributor inventories of bicycles in Europe increased rapidly.
In North America, retail unit sales of completed bicycles had been strong, supported by good weather, but then plummeted in March due to the spread of the novel coronavirus. This led to high levels of distributor inventories.
In China, retail sales were sluggish due to the spread of the novel coronavirus. Meanwhile, distributor inventories generally remained at an appropriate level.
In South America, in the Brazilian market, retail sales were on a recovery trend after stagnating due to political instability, but retail sales rapidly slowed in late March due to the impact of the spread of the novel coronavirus. In the Argentine market, where currency depreciation continues, sales remained stagnant.

In the Japanese market, retail sales of community bicycles for commuting to work and school and middle- to high-end sports bicycles were weak throughout the period, but e-bike sales remained strong. Distributor inventories generally remained at appropriate levels.