OSAKA, Japan - Shimano has released its Q3 2017 financial results which show that global net sales of the company's bicycle division products grew slightly by 1.8% to 196 billion yen (approx. US$1.7 billion) in the first nine-months of 2017. During this period, the bike division's operating income decreased 4.9% to 41,105 million yen (approx. US$361 million).
A statement released by Shimano noted sluggish markets in most major markets.

“In Europe, retail sales of completed bicycles, which had been somewhat soft since the beginning of the year, were at the same level as the previous year for a first nine-month period despite lacking vigor, and distributor inventories of bicycles in Europe remained at an appropriate level.”
“In North America, retail sales of completed bicycles were approximately the same as the previous year’s level and distributor inventories continued to be somewhat low.”
“In China, retail sales of completed bicycles were below the previous year’s level as retail sales of lowend bicycles remained lackluster, although distributor inventories were at an appropriate level.”
“In the Japanese market, retail sales of both sports bicycles and community bicycles remained lackluster, but distributor inventories remained at an appropriate level.”

Shimano reported net sales of 246 billion yen (approx. US$2.2 billion) for the entire group during the the first 9 months of 2017—a 1.8% increase from 242 billion yen in the same period of 2016. However, operating income, ordinary income and net income were down by 4%, 18.6% and 23.7% respectively.
The company's forecast for net sales of 330 billion yen (approx. US$2.9 billion) for the entire year remains unchanged.