Citing a mild winter and improving economies in Europe as two of the factors, Shimano reported a 20 percent increase in its total revenues to 75.7 billion yen (€538.17m-$744.66m) for the first quarter ended on March 31. This led the company to post a 30 percent higher net income of ¥9.98 billion (€70.95m-$98.17m) for the period.
Sales of bicycle components rose by 19 percent to ¥61.0 billion (€433.69m-$600.00m), in spite of a delay in the U.S. spring season due to cold weather. Demand was described as robust in China and other emerging markets. The segment's operating profit jumped by 41 percent to ¥13.3 billion (€94.55m-$130.83m).
An even higher increase of 188 percent was recorded in the operating results of Shimano's fishing tackle business. They rose to ¥892 million (€6.34m-$8.77m) as revenues in this segment increased by 21 percent to ¥14.5 billion (€103.07m-$142.65m), driven by higher demand for premium products in Japan ahead of an increase in sales taxes and by strong sales in Europe and the U.S.
