Shimano cuts profit guidance after quake

2011-04-30T00:00:00

Shimano maintained its 2011 sales guidance unchanged at ¥220 billion (€1.8bn-$2.7bn) despite the 8.9-magnitude earthquake that hit the country on March 11 and the subsequent nuclear disaster. However, it cut its forecast for net income to ¥20 billion (€166.2m-$244.0m) from ¥22 billion, while estimates for operating and ordinary income were ...

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