Shimano’s Sales Climb 15 Percent In Year, Topping Guidance
February 14, 2023
Shimano reported that net income rose 10.6 percent on a 15.1 percent revenue gain in its year ended December 31. Both earnings and sales easily topped the company’s guidance. Sales are expected to decline 20 percent in the current year.
Sales increased 15.1 percent from the previous year to ¥628,909 million ($4.8 bn). Operating income increased 14.1 percent to 169,158 million ($1.28 bn), ordinary income increased 15.7 percent to ¥176,568 million ($1.34 bn), and net income attributable to owners of the parent increased ¥10.6 percent to ¥128,178 million ($971 mm). SGB Media